REFUND Act
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in senate (Apr 10, 2013)
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Requires such rescinded amounts to: (1) be deposited by the Secretary of the Treasury in the special fund account entitled "Gifts to Reduce Debt Held by the Public, Bureau of the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.
What just happenedApr 10, 2013
Read twice and referred to the Committee on Appropriations.
Who’s behind it
- Introduced in SenateApr 10, 2013
- Apr 10, 2013IntroReferral
Read twice and referred to the Committee on Appropriations.
- Apr 10, 2013IntroReferral10000
Introduced in Senate