[Congressional Bills 114th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4496 Introduced in House (IH)]

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114th CONGRESS
  2d Session
                                H. R. 4496

  To provide that amounts collected by the Federal Government through 
legal settlements, fines, or financial penalties shall be deposited in 
the general fund of the Treasury for purposes of deficit reduction, and 
                          for other purposes.


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                    IN THE HOUSE OF REPRESENTATIVES

                            February 8, 2016

Mr. Schweikert introduced the following bill; which was referred to the 
                       Committee on the Judiciary

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                                 A BILL


 
  To provide that amounts collected by the Federal Government through 
legal settlements, fines, or financial penalties shall be deposited in 
the general fund of the Treasury for purposes of deficit reduction, 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 ``Funding Unpaid National Debt with 
Settlements Act'' or the ``FUNDS Act''.

SEC. 2. USE OF LEGAL SETTLEMENT, FINES, OR FINANCIAL PENALTIES 
              COLLECTED BY THE FEDERAL GOVERNMENT TO REDUCE THE DEBT.

    (a) In General.--Notwithstanding any other provision of law, any 
covered funds shall be deposited in the general fund of the Treasury 
for purposes of deficit reduction.
    (b) Definition of Covered Funds.--In this section, the term 
``covered funds'' means any civil penalty collected in a civil action 
brought by any Federal agency, any amounts received by a Federal agency 
in a settlement or consent decree entered in such an action, any fine 
levied in an administrative proceeding or pursuant to an agency rule, 
and any fine collected for any Federal criminal offense, but does not 
include any penalty or interest collected by the Internal Revenue 
Service under the Internal Revenue Code of 1986.
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