[Congressional Bills 112th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3121 Introduced in House (IH)]

112th CONGRESS
  1st Session
                                H. R. 3121

  To require congressional approval for certain obligations exceeding 
                             $100,000,000.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            October 6, 2011

  Mr. Barrow introduced the following bill; which was referred to the 
 Committee on Oversight and Government Reform, and in addition to the 
 Committee on Rules, 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 require congressional approval for certain obligations exceeding 
                             $100,000,000.

    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 ``Reclaiming Oversight of Executive 
Branch Spending Act''.

SEC. 2. CONGRESSIONAL APPROVAL FOR CERTAIN OBLIGATIONS EXCEEDING 
              $100,000,000.

    (a) Approval Requirement.--No Federal department or agency may 
enter into a contract with, award a grant to, or guarantee a loan for, 
a private entity in excess of $100,000,000 for a fiscal year, unless 
the department or agency submits to the Congress a request for approval 
of such contract, grant, or guarantee, and such approval is 
subsequently granted by enactment of a joint resolution.
    (b) Expedited Consideration.--A joint resolution of approval under 
subsection (a) shall be considered in the House of Representatives and 
the Senate not later then 30 days after the date of submission of a 
request under such subsection, under expedited procedures.
    (c) Effective Date.--This section shall take effect on the date 
that is 180 days after the date of the enactment of this Act.
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