S. 744 · 114th Congress
REFUND Act
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Never voted on. It didn't reach a floor vote before the 114th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
RubioSponsor7 cosponsors · 7 R
6 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Returned Exclusively For Unpaid National Debt Act or the REFUND Act
What it does: CRS summary · Introduced in Senate · Mar 16, 2015
Returned Exclusively For Unpaid National Debt Act or the REFUND Act
This bill rescinds federal funds identified by a state as unwanted and requires the funds to be used for debt reduction. The bill applies to federal funds required to be allocated by formula among all states that agree to use the funds for a specified purpose. To identify the funds as unwanted, a state legislature must pass a concurrent resolution, and the state must then notify the head of the federal agency responsible for allocating the funds. The Department of the Treasury must deposit the rescinded funds in the Gifts to the United States for Reduction of the Public Debt account, use the funds to reduce the debt, and submit an annual report to Congress identifying funds received.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: REFUND Act
Also known as: Returned Exclusively For Unpaid National Debt Act
Latest action (Mar 16, 2015): Read twice and referred to the Committee on Appropriations.
Policy area: Economics and Public Finance · Origin: Senate · Introduced: Mar 16, 2015
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.