H.R. 3002 · 113th Congress
No Bailouts for State and local Governments Act
Key: what the circles and colors mean
Each circle is a bill. The ring fills as it moves through Congress:
Under the number: the Yea · Nay count of its final (or latest) recorded vote. On a member's page, the small badge is how that member voted: Y Yea / Aye, N Nay / No, P Present, – Not voting.
Gold and violet are only for Yea and Nay; they never mean a party. A member's party is the letter on their photo.
Never voted on. It didn't reach a floor vote before the 113th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
BarrSponsor18 cosponsors · 18 R
R
Blackburn
MB
R
Brooks
KC
R
Conaway
JF
R
Fleming
RL
R
Labrador
BP
R
Posey
PR
R
Roe
RR
R
Ribble
MS
R
Salmon
SS
R
Scalise
MS
R
Stutzman
RW
R
Weber
JK
R
Kingston
BL
R
Long
DL
R
LaMalfa
SP
R
Palazzo
BW
R
Wenstrup
TR
R
Rokita12 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
No Bailouts for State and local Governments Act - Prohibits the use of federal funds to purchase or guarantee obligations of, issue lines of credit to, or provide direct or indirect grants-in-aid to any state, municipal, local, or county government which, on or after January 1, 2013, has filed for bankruptcy, has defaulted on its obligations, is at risk of…
What it does: CRS summary · Introduced in House · Aug 2, 2013
No Bailouts for State and local Governments Act - Prohibits the use of federal funds to purchase or guarantee obligations of, issue lines of credit to, or provide direct or indirect grants-in-aid to any state, municipal, local, or county government which, on or after January 1, 2013, has filed for bankruptcy, has defaulted on its obligations, is at risk of defaulting, or is likely to default, without such federal assistance if such purchase, guarantee, extension of credit, or grant is made to assist the government in: (1) avoiding defaulting on the payment of principal or interest due on an obligation of the government, or (2) curing such a default.
Prohibits the Secretary of the Treasury from using, directly or indirectly, general fund revenues or borrowed funds to purchase or guarantee, for the same purposes, any asset or obligation of any such state, municipal, local, or county government.
Prohibits the Board of Governors of the Federal Reserve System from: (1) providing or extending to, or authorizing with respect to, such a state, municipal, local, or county government, or other entity with taxing authority or bonding authority, for the same purposes, any funds, loan guarantees, credits, or any other financial instrument or other authority, including bond purchases; or (2) otherwise assisting such a government entity, for the same purposes, under any Board authority.
Waives the application of this Act for federal assistance provided in response to a natural disaster.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: No Bailouts for State and local Governments Act
Latest action (Aug 2, 2013): 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.
Policy area: Economics and Public Finance · Origin: House · Introduced: Aug 2, 2013
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.