HR 4496
114th Congress
House
Economics and Public Finance
Budget deficits and national debt
Civil actions and liability
Debt collection
Executive agency funding and structure
FUNDS Act
Introduced: February 8, 2016
Introduced by:
Schweikert, David
Republican
· Arizona
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Feb 8, 2016
Referred to the House Committee on the Judiciary.
Feb 8, 2016
Introduced in House
Plain-English summary
Funding Unpaid National Debt with Settlements Act or the FUNDS Act
This bill requires funds collected by the federal government through legal settlements, fines, and penalties (excluding penalties or interest collected by the Internal Revenue Service under the Internal Revenue Code) to be deposited in the general fund of the Treasury for deficit reduction.
(Under current law, federal agencies are permitted to spend funds from certain settlements, fines, and penalties for specified purposes.)
What's happening now
Referred to the House Committee on the Judiciary.
Committees of jurisdiction
1