US Congress Senate Bill 184 (Prior Session Legislation)

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Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on January 25 2011 - 25% progression, died in committee
Action: 2011-01-25 - Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Pending: Senate Banking, Housing, And Urban Affairs Committee
Text: Latest bill text (Introduced) [PDF]

Prohibits the use of federal funds to purchase or guarantee obligations of, issue lines of credit to or provide direct or indirect grants-and-aid to, any state, municipal, local, or county government which a nationally recognized statistical rating organization has determined has defaulted on its obligations or is likely to default, without such federal assistance. Prohibits the Secretary of the Treasury from using, directly or indirectly, general fund revenues or borrowed funds to purchase or guarantee any asset or obligation of any such state, municipal, local, or county government. Prohibits the Board of Governors of the Federal Reserve System from directly or indirectly lending against, purchasing, or guaranteeing any asset or obligation of such a state, municipal, local, or county government.

A bill to prohibit taxpayer bailouts of fiscally irresponsible State and local governments.

Sen. John Ensign [R-NV]

Date	Chamber	Action
2011-01-25	Senate	Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

SB251 (Related) 2011-02-01 - Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Type	Source
Summary	https://www.congress.gov/bill/112th-congress/senate-bill/184/all-info
Text	https://www.congress.gov/112/bills/s184/BILLS-112s184is.pdf