[Congressional Bills 113th Congress]
[From the U.S. Government Publishing Office]
[H.R. 24 Reported in House (RH)]

                                                 Union Calendar No. 447
113th CONGRESS
  2d Session
                                 H. R. 24

                      [Report No. 113-602, Part I]

   To require a full audit of the Board of Governors of the Federal 
Reserve System and the Federal reserve banks by the Comptroller General 
             of the United States, and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            January 3, 2013

Mr. Broun of Georgia introduced the following bill; which was referred 
to the Committee on Oversight and Government Reform, and in addition to 
 the Committee on Financial Services, 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

                           September 16, 2014

    Additional sponsors: Mr. Jones, Mr. Loebsack, Mr. Michaud, Mr. 
 McIntyre, Mr. DeFazio, Mr. Camp, Mr. Gosar, Mr. Peterson, Mr. Terry, 
 Mr. Walberg, Mr. Luetkemeyer, Mr. Coble, Mr. Radel, Mr. Nunnelee, Mr. 
 Goodlatte, Mr. Latta, Mr. Yoho, Mr. Burgess, Mr. Stockman, Mr. Amash, 
Mr. Hanna, Mr. Thompson of Pennsylvania, Mr. Lance, Mr. Heck of Nevada, 
   Mr. Carter, Mr. Griffin of Arkansas, Mr. Pearce, Mr. Walden, Mr. 
     Barletta, Mr. Runyan, Mr. Westmoreland, Mr. Fortenberry, Mr. 
   Farenthold, Mr. Chaffetz, Mr. Lamborn, Mr. Marino, Mrs. Miller of 
  Michigan, Mrs. Bachmann, Mr. Duncan of South Carolina, Mr. King of 
Iowa, Mrs. Hartzler, Mrs. Black, Mr. Sessions, Mr. Schock, Mr. Huizenga 
of Michigan, Mr. Fincher, Mr. Rogers of Alabama, Mr. Gowdy, Mr. Roe of 
   Tennessee, Mr. Amodei, Mr. Graves of Missouri, Mr. Culberson, Mr. 
  Bonner, Mr. Barton, Mr. Buchanan, Mr. Wilson of South Carolina, Ms. 
 Foxx, Mr. Stivers, Mr. Wittman, Mr. Bucshon, Mr. Womack, Mr. Simpson, 
 Mr. Sensenbrenner, Mr. Long, Mr. DesJarlais, Mr. Webster of Florida, 
  Mr. Scalise, Mr. Hastings of Washington, Mr. Tiberi, Ms. Pingree of 
Maine, Mr. Woodall, Mr. Roskam, Mr. Wolf, Mr. Harris, Mrs. Capito, Mr. 
  Griffith of Virginia, Mr. McKinley, Mr. Huelskamp, Mr. Gerlach, Mr. 
Smith of Nebraska, Mr. Hunter, Mr. Whitfield, Mr. Joyce, Mr. Collins of 
Georgia, Mr. Alexander, Mr. Olson, Mr. Weber of Texas, Mr. Gardner, Mr. 
  Nugent, Mr. Austin Scott of Georgia, Mrs. Noem, Mrs. Blackburn, Mr. 
LaMalfa, Mr. Pompeo, Mr. Rokita, Mr. Yoder, Mr. Poe of Texas, Mr. Hurt, 
   Mr. Latham, Mr. Flores, Mr. Forbes, Mr. Duncan of Tennessee, Mr. 
 McCaul, Mr. Johnson of Ohio, Mr. Gibson, Mr. Welch, Mr. Calvert, Mr. 
    Bilirakis, Mr. Turner, Mr. Bentivolio, Mr. Kline, Mr. Barr, Mr. 
 Frelinghuysen, Mr. Paulsen, Mr. DeSantis, Mr. Posey, Mrs. Lummis, Mr. 
 Young of Indiana, Mr. Miller of Florida, Mr. Mica, Mr. Aderholt, Mr. 
Stutzman, Mr. Crawford, Mr. Cassidy, Mr. Boustany, Mr. Fleischmann, Mr. 
 Meehan, Mr. Wenstrup, Mr. Jordan, Mr. Grimm, Ms. Jenkins, Mr. Tipton, 
  Mr. Young of Florida, Mr. Massie, Mr. Rodney Davis of Illinois, Mr. 
Lankford, Mr. Lipinski, Mr. Benishek, Mr. Salmon, Mr. Duffy, Mr. Young 
of Alaska, Mr. Stewart, Mr. Schweikert, Mr. McClintock, Mr. Cotton, Mr. 
 Owens, Mr. Sanford, Mr. Daines, Mr. Murphy of Pennsylvania, Mr. Kelly 
 of Pennsylvania, Mr. Upton, Mr. Marchant, Mr. Smith of Missouri, Mr. 
 Franks of Arizona, Mr. Gohmert, Mr. Braley of Iowa, Mr. Rohrabacher, 
 Mr. Guthrie, Mr. Kingston, Mr. Cramer, Mr. Meadows, Mr. Diaz-Balart, 
Mr. Collins of New York, Mr. Rigell, Mr. Maffei, Mr. Barrow of Georgia, 
 Mrs. Ellmers, Mr. Gene Green of Texas, Mr. Harper, Ms. Ros-Lehtinen, 
Mr. Palazzo, Mr. Graves of Georgia, Mr. Polis, Mr. Lucas, Mr. Valadao, 
 Mr. LoBiondo, Mr. Pittenger, Mr. Grayson, Mr. Ross, Mr. Shuster, Mr. 
Smith of Texas, Mr. McAllister, Mr. Hudson, Mr. Fitzpatrick, Mr. Hall, 
Mr. Denham, Mr. Coffman, Mr. Bishop of Utah, Mr. Sam Johnson of Texas, 
  Mr. Visclosky, Mr. Gingrey of Georgia, Mr. Tierney, Mr. Ribble, Mr. 
 Mulvaney, Mr. Labrador, Mr. Fleming, Mr. Price of Georgia, Mr. Cole, 
Mr. Thornberry, Mr. Rothfus, Mr. Reed, Mr. Conaway, Mr. Neugebauer, Mr. 
  Rice of South Carolina, Mr. Bridenstine, Mr. Cook, Mr. Renacci, Mr. 
 Ruppersberger, Mr. Gary G. Miller of California, Ms. Herrera Beutler, 
 Mr. Rooney, Mr. Jolly, Mr. Mullin, Mr. Chabot, Mr. Perry, Mr. Gibbs, 
   Mrs. Wagner, Mr. Garrett, Mr. Petri, Mr. Williams, Mr. Brooks of 
Alabama, Mr. Pitts, Mr. Crenshaw, Mr. Smith of New Jersey, Mr. Shimkus, 
              Ms. Granger, Mrs. Walorski, and Ms. Lofgren


                           September 16, 2014

Reported from the Committee on Oversight and Government Reform with an 
                               amendment
 [Strike out all after the enacting clause and insert the part printed 
                               in italic]

                           September 16, 2014

   The Committee on Financial Services discharged; committed to the 
 Committee of the Whole House on the State of the Union and ordered to 
                               be printed
[For text of introduced bill, see copy of bill as introduced on January 
                                3, 2013]


_______________________________________________________________________

                                 A BILL


 
   To require a full audit of the Board of Governors of the Federal 
Reserve System and the Federal reserve banks by the Comptroller General 
             of the United States, and for other purposes.


 


    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 ``Federal Reserve Transparency Act of 
2014''.

SEC. 2. AUDIT REFORM AND TRANSPARENCY FOR THE BOARD OF GOVERNORS OF THE 
              FEDERAL RESERVE SYSTEM.

    (a) In General.--Notwithstanding section 714 of title 31, United 
States Code, or any other provision of law, the Comptroller General 
shall complete an audit of the Board of Governors of the Federal 
Reserve System and the Federal reserve banks under subsection (b) of 
such section 714 within 12 months after the date of the enactment of 
this Act.
    (b) Report.--
            (1) In general.--Not later than 90 days after the audit 
        required pursuant to subsection (a) is completed, the 
        Comptroller General--
                    (A) shall submit to Congress a report on such 
                audit; and
                    (B) shall make such report available to the Speaker 
                of the House, the majority and minority leaders of the 
                House of Representatives, the majority and minority 
                leaders of the Senate, the Chairman and Ranking Member 
                of the committee and each subcommittee of jurisdiction 
                in the House of Representatives and the Senate, and any 
                other Member of Congress who requests the report.
            (2) Contents.--The report under paragraph (1) shall include 
        a detailed description of the findings and conclusion of the 
        Comptroller General with respect to the audit that is the 
        subject of the report, together with such recommendations for 
        legislative or administrative action as the Comptroller General 
        may determine to be appropriate.
    (c) Repeal of Certain Limitations.--Subsection (b) of section 714 
of title 31, United States Code, is amended by striking the second 
sentence.
    (d) Technical and Conforming Amendments.--Section 714 of title 31, 
United States Code, is amended--
            (1) in subsection (d)(3)--
                    (A) in subparagraph (A)--
                            (i) by striking ``or (f)'';
                            (ii) in clause (i), by striking ``or (f)''; 
                        and
                            (iii) in clause (ii), by striking ``or 
                        (f)''; and
                    (B) in subparagraph (C), by striking ``or (f)''; 
                and
            (2) by striking subsection (f).
                                                 Union Calendar No. 447

113th CONGRESS

  2d Session

                                H. R. 24

                      [Report No. 113-602, Part I]

_______________________________________________________________________

                                 A BILL

   To require a full audit of the Board of Governors of the Federal 
Reserve System and the Federal reserve banks by the Comptroller General 
             of the United States, and for other purposes.

_______________________________________________________________________

                           September 16, 2014

Reported from the Committee on Oversight and Government Reform with an 
                               amendment

                           September 16, 2014

   The Committee on Financial Services discharged; committed to the 
 Committee of the Whole House on the State of the Union and ordered to 
                               be printed