H.R. 5789 · 109th Congress
To amend title 31, United States Code, to modernize cash management by allowing the use of certain…
Full title
To amend title 31, United States Code, to modernize cash management by allowing the use of certain obligations instead of surety bonds.
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Never voted on. It didn't reach a floor vote before the 109th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
FitzpatrickSponsor1 cosponsor · 1 D
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Amends federal law governing surety bonds to repeal the definition of government obligation as a public debt obligation of the U.S. government whose principal and interest is unconditionally guaranteed by the government.
What it does: CRS summary · Introduced in House · Jul 13, 2006
Amends federal law governing surety bonds to repeal the definition of government obligation as a public debt obligation of the U.S. government whose principal and interest is unconditionally guaranteed by the government.
Defines as an eligible obligation any security designated by the Secretary of the Treasury as acceptable in lieu of a surety bond.
Authorizes the use of an eligible obligation instead of a surety bond if its market value, as determined by the Secretary, is equal to or greater than the amount of the required surety bond.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: To amend title 31, United States Code, to modernize cash management by allowing the use of certain obligations instead of surety bonds.
Latest action (Jul 13, 2006): Referred to the House Committee on the Judiciary.
Policy area: Finance and Financial Sector · Origin: House · Introduced: Jul 13, 2006
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.