[Congressional Bills 108th Congress]
[From the U.S. Government Publishing Office]
[H.R. 165 Introduced in House (IH)]







108th CONGRESS
  1st Session
                                H. R. 165

 To prohibit the Secretary of the Treasury from using surplus funds to 
make any investment in securities, other than government and municipal 
                              securities.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            January 7, 2003

Mr. Reynolds (for himself, Mr. Doolittle, and Mr. Flake) introduced the 
   following bill; which was referred to the Committee on Financial 
                                Services

_______________________________________________________________________

                                 A BILL


 
 To prohibit the Secretary of the Treasury from using surplus funds to 
make any investment in securities, other than government and municipal 
                              securities.

    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 ``Private Economy Protection Act of 
2003''.

SEC. 2. PROHIBITION ON USING FEDERAL SURPLUS FUNDS TO INVEST IN PRIVATE 
              SECURITIES.

    Notwithstanding any other provision of law, the Secretary of the 
Treasury may not use surplus funds to make any investment in securities 
(within the meaning of the securities laws of the United States) other 
than government and municipal securities. For purposes of the preceding 
sentence, the term `surplus' shall have the meaning given to such term 
by section 3(7) of the Congressional Budget Act of 1974 (2 U.S.C. 
622(7)).
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