Ask AI
H.R. 1119

Bailouts Are Not For Sale Act

Bailouts Are Not For Sale Act - Prohibits a corporation which has made any independent expenditure or disbursement for an electioneering communication in connection with a federal election campaign from: (1) having any notes discounted by any federal reserve bank, or (2) otherwise accessing or receiving the benefit of any financing provided by the Board of Governors of the Federal Reserve System or any federal reserve bank (including any credit facility established by the Board or any federal reserve bank).

Directs the Board to require a corporation that has entered into such a transaction or financing agreement before enactment of this Act to unwind it and repay any amount outstanding within 90 days after enactment of this Act.

Referred to the House Committee on Financial Services.

Rep. Grayson, Alan [D-FL-9](D-FL)Sponsor
1committees3actions6subjects
  • Introduced in HouseMar 13, 2013
  1. IntroReferralH11100

    Referred to the House Committee on Financial Services.

  2. IntroReferralIntro-H

    Introduced in House

  3. IntroReferral1000

    Introduced in House

Bailouts Are Not For Sale Act — Informed