I 112th CONGRESS 1st Session H. R. 3121 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.

1.

Short title

This Act may be cited as the Reclaiming Oversight of Executive Branch Spending Act.

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.