[Congressional Bills 114th Congress]
[From the U.S. Government Publishing Office]
[H.R. 5869 Introduced in House (IH)]

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114th CONGRESS
  2d Session
                                H. R. 5869

 To amend the Federal Credit Union Act to require the National Credit 
 Union Administration Board to provide a rationale for any amounts the 
 Board proposes to use from the National Credit Union Share Insurance 
                     Fund, and for other purposes.


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                    IN THE HOUSE OF REPRESENTATIVES

                             July 14, 2016

 Mr. Mulvaney (for himself and Mr. Heck of Washington) introduced the 
   following bill; which was referred to the Committee on Financial 
                                Services

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                                 A BILL


 
 To amend the Federal Credit Union Act to require the National Credit 
 Union Administration Board to provide a rationale for any amounts the 
 Board proposes to use from the National Credit Union Share Insurance 
                     Fund, 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. FUND TRANSPARENCY.

    Section 203 of the Federal Credit Union Act (12 U.S.C. 1783) is 
amended by adding at the end the following:
    ``(g) Fund Transparency.--
            ``(1) In general.--The Board shall accompany each annual 
        budget submitted pursuant to section 209(b) with a report 
        containing--
                    ``(A) a detailed analysis of how the expenses of 
                the Administration are assigned between prudential 
                activities and insurance-related activities and the 
                extent to which those expenses are paid from the fees 
                collected pursuant to section 105 or from the Fund; and
                    ``(B) the Board's supporting rationale for any 
                proposed use of amounts in the Fund contained in such 
                budget, including detailed breakdowns and supporting 
                rationales for any such proposed use related to titles 
                of this Act other than this title.
            ``(2) Public disclosure.--The Board shall make each report 
        described under paragraph (1) available to the public.''.
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