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HR 4496 114th Congress House

FUNDS Act

Official title: To provide that amounts collected by the Federal Government through legal settlements, fines, or financial penalties shall be deposited in the general fund of … Show full official titleShow less

Official title: To provide that amounts collected by the Federal Government through legal settlements, fines, or financial penalties shall be deposited in the general fund of the Treasury for purposes of deficit reduction, and for other purposes.

Introduced: February 8, 2016 Introduced by: Schweikert, David Republican · Arizona See on congress.gov
Economics and Public Finance Budget deficits and national debtCivil actions and liabilityDebt collectionExecutive agency funding and structure
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This bill died when the 114th Congress ended
It never became law before the 114th Congress (2015–2016) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 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
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 Latest action February 8, 2016

Referred to the House Committee on the Judiciary.

 Plain-English summary Congressional Research Service

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.)

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
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APA
U.S. Congress. (2026). H.R. 4496: FUNDS Act. 114th Congress. Open America. https://openamerica.io/bill/114-HR-4496/
MLA
"H.R. 4496: FUNDS Act." 114th Congress, 2026, Open America, https://openamerica.io/bill/114-HR-4496/.
Bluebook (legal)
H.R. 4496, 114th Cong. (2026), https://openamerica.io/bill/114-HR-4496/.
Markdown link
[H.R. 4496: FUNDS Act](https://openamerica.io/bill/114-HR-4496/)
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