S 692
113th Congress
Senate
Economics and Public Finance
Appropriations
Budget deficits and national debt
Intergovernmental relations
State and local finance
REFUND Act
Introduced: April 10, 2013
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Apr 10, 2013
Read twice and referred to the Committee on Appropriations.
Apr 10, 2013
Introduced in Senate
Plain-English summary
Returned Exclusively For Unpaid National Debt Act or REFUND Act - Rescinds unwanted amounts, as identified by a state from a projected allocation, from any federal funds required to be allocated by formula among all states that agree to use them for a specified purpose.
Prescribes a procedure by which a state legislature may identify a projected federal allocation as unwanted funds.
Requires such rescinded amounts to: (1) be deposited by the Secretary of the Treasury in the special fund account entitled "Gifts to Reduce Debt Held by the Public, Bureau of the Public Debt, Treasury"; and (2) be used to reduce the federal debt.
What's happening now
Read twice and referred to the Committee on Appropriations.
Committees of jurisdiction
1