118 HR 4321 IH: No Bailouts for Reparations Act U.S. House of Representatives 2023-06-23 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.

I118th CONGRESS1st SessionH. R. 4321IN THE HOUSE OF REPRESENTATIVESJune 23, 2023Mr. Babin (for himself, Mr. Nehls, Mr. Jackson of Texas, Mr. Duncan, Mr. Weber of Texas, Mr. Palmer, Mr. Walberg, Mr. Owens, Mr. Higgins of Louisiana, Mr. Gosar, Mr. C. Scott Franklin of Florida, Mr. Self, Mr. LaMalfa, and Mr. Fallon) introduced the following bill; which was referred to the Committee on Oversight and AccountabilityA BILLTo prohibit the United States Government from providing bailouts or other financial assistance to any State or local government that enacts any law providing reparations for slavery, and for other purposes.

1.

Short title

This Act may be cited as the No Bailouts for Reparations Act .

2.

Prohibition on bailouts for State and local governments carrying out reparations programs

(a)

In general

The United States Government, including the Federal Reserve System and independent agencies, may not provide any loan, grant, or other form of financial assistance to the government of any State or political subdivision thereof, or any agency or instrumentality of such a State or political subdivision, that enacts into law any program providing reparations on the basis of— (1)slavery; or (2)race, ethnicity, national origin, or historical practices related thereto. (b)

Application

Subsection (a) shall only apply to the unit of government so enacting a reparations program.