S. 692
REFUND Act
Read twice and referred to the Committee on Appropriations.
Sponsor
Sen. Rubio, Marco [R-FL]
Bill Details
- Update Date
- Nov 15, 2022
- Origin Chamber
- Senate
- Bill Type
- S
- Bill Number
- 692
- Congress
- 113
- Introduced Date
- Apr 10, 2013
- Policy Area
- Economics and Public Finance
- Is Law
- No
Read twice and referred to the Committee on Appropriations.
Source: Senate
Introduced in Senate
Source: Library of Congress
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Requires such rescinded amounts to: (1) be deposited by the Secretary of the Treasury in the special fund account entitled "Gifts to Reduce Debt Held by the Public, Bureau of the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.
Appropriations Committee
Introduced in Senate
Apr 10, 2013