[Congressional Bills 110th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1181 Introduced in House (IH)]







110th CONGRESS
  1st Session
                                H. R. 1181

    To amend title 49, United States Code, to require congressional 
     approval of certain loans by the Department of Transportation.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                           February 16, 2007

 Mr. Udall of Colorado (for himself, Mr. Walz of Minnesota, Mr. Flake, 
Ms. McCollum of Minnesota, Mrs. Maloney of New York, Mrs. Bachmann, Mr. 
Garrett of New Jersey, Mr. Lamborn, Mr. Miller of Florida, Mr. Kline of 
Minnesota, and Mrs. Musgrave) introduced the following bill; which was 
     referred to the Committee on Transportation and Infrastructure

_______________________________________________________________________

                                 A BILL


 
    To amend title 49, United States Code, to require congressional 
     approval of certain loans by the Department of Transportation.

    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 ``Congress Must Co-Sign Act of 2007''.

SEC. 2. PURPOSE.

    The purpose of this Act is to require separate congressional 
approval of loans by the Department of Transportation that could expose 
taxpayers to potential liability of $1,000,000,000 or more.

SEC. 3. CONGRESSIONAL APPROVAL REQUIRED FOR CERTAIN DEPARTMENT OF 
              TRANSPORTATION LOANS.

    (a) In General.--Subchapter II of chapter 3 of title 49, United 
States Code, is amended by adding at the end the following:
``Sec. 338. Congressional approval required for certain loans
    ``(a) Notice Requirement.--The Secretary of Transportation shall 
provide advance written notice to Congress before any Federal funds 
made available to the Department of Transportation are used to make a 
loan in an amount of $1,000,000,000 or more.
    ``(b) Contents of Notice.--The written notice required under 
subsection (a) shall include a description of the purpose of the loan, 
the authority to make the loan, and the terms and conditions of the 
loan.
    ``(c) Review and Approval.--Federal funds made available to the 
Department of Transportation may not be used to make a loan for which 
written notice is required under subsection (a) until Congress, after 
the date of receipt of the notice, has enacted a law that specifically 
approves the loan.''.
    (b) Conforming Amendment.--The analysis for chapter 3 of title 49, 
United States Code, is amended by inserting after the item relating to 
section 337 the following:

``338. Congressional approval required for certain loans.''.
                                 <all>