[Congressional Bills 104th Congress]
[From the U.S. Government Publishing Office]
[H.R. 762 Introduced in House (IH)]







104th CONGRESS
  1st Session
                                H. R. 762

To reestablish the revenue sharing program of annual payments to States 
and units of general local government, to authorize appropriations for 
    payments under the program, and to offset that authorization by 
     reducing the authorization of appropriations for foreign aid.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            January 31, 1995

Mr. Traficant introduced the following bill; which was referred to the 
 Committee on Government Reform and Oversight and, in addition, to the 
 Committee on International Relations, for a period to be subsequently 
   determined by the Speaker, in each case for consideration of such 
 provisions as fall within the jurisdiction of the committee concerned

_______________________________________________________________________

                                 A BILL


 
To reestablish the revenue sharing program of annual payments to States 
and units of general local government, to authorize appropriations for 
    payments under the program, and to offset that authorization by 
     reducing the authorization of appropriations for foreign aid.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Revenue Sharing Reestablishment Act 
of 1995''.

SEC. 2. REESTABLISHMENT OF REVENUE SHARING PROGRAM.

    (a) In General.--Subject to subsections (b) and (c), the Secretary 
of the Treasury shall make payments to States and units of general 
local government in accordance with the provisions of chapter 67 of 
title 31, United States Code (formerly known as the ``Revenue Sharing 
Act''), as in effect on April 6, 1986 (in this section referred to as 
``chapter 67'').
    (b) Entitlement Period Defined.--Notwithstanding section 6701(a)(1) 
of chapter 67, for purposes of this section the term ``entitlement 
period'' (as used in chapter 67) means each fiscal year after fiscal 
year 1995.
    (c) Authorization of Appropriations.--Notwithstanding section 
6703(b) (1) and (2) of chapter 67, there are authorized to be 
appropriated to the Secretary of the Treasury to carry out this section 
$5,000,000,000. For purposes of this section, amounts appropriated 
under this subsection shall be treated as amounts in the Trust Fund (as 
that term is used in chapter 67).

SEC. 3. REDUCTION OF AMOUNTS AUTHORIZED TO BE APPROPRIATED FOR FOREIGN 
              AID.

    The amount authorized to be appropriated for aid to foreign 
governments for fiscal years after fiscal year 1995 is reduced by 
$5,000,000,000.
                                 <all>