Rollover any line of text to comment and/or link to it.
S 2939 PCS
Calendar No. 258
111th CONGRESS
2d Session
S. 2939
To amend title 31, United States Code to require an audit of the Board of Governors of the Federal Reserve System and the Federal reserve banks, and for other purposes.
IN THE SENATE OF THE UNITED STATES
January 20, 2010
Mr. DEMINT introduced the following bill; which was read the first time
January 21, 2010
Read the second time and placed on the calendar
A BILL
To amend title 31, United States Code to require an audit of the Board of Governors of the Federal Reserve System and the Federal reserve banks, and for other purposes.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. AUDIT OF AND REPORT ON THE FEDERAL RESERVE SYSTEM.
Section 714 of title 31, United States Code, is amended by adding at the end the following:
‘(f) Audit of and Report on the Federal Reserve System-
‘(1) IN GENERAL- The Comptroller General shall conduct an audit of the Board of Governors of the Federal Reserve System and the Federal reserve banks under subsection (b) not later than 12 months after the date of enactment of this subsection.
‘(2) REPORT REQUIRED-
‘(A) IN GENERAL- A report on the audit referred to in paragraph (1) shall be--
‘(i) submitted by the Comptroller General to the Congress before the end of the 90-day period beginning on the date on which such audit is completed; and
‘(ii) made available to--
‘(I) the Speaker of the House of Representatives;
‘(II) the majority leader and the minority leader of the House of Representatives;
‘(III) the majority leader and the minority leader of the Senate;
‘(IV) the Chairperson and Ranking Member of the committee and each subcommittee of jurisdiction in the House of Representatives and the Senate; and
‘(V) any other Member of Congress who requests it.
‘(B) CONTENTS- The report under subparagraph (A) shall include a detailed description of the findings and conclusion of the Comptroller General with respect to the audit that is the subject of the report.
‘(3) RULE OF CONSTRUCTION- Nothing in this subsection shall be construed--
‘(A) as interference in or dictation of monetary policy to the Federal Reserve System by the Congress or the Government Accountability Office; or
‘(B) to limit the ability of the Government Accountability Office to perform additional audits of the Board of Governors of the Federal Reserve System or of the Federal reserve banks.’.
Calendar No. 258
111th CONGRESS
2d Session
S. 2939
A BILL
To amend title 31, United States Code to require an audit of the Board of Governors of the Federal Reserve System and the Federal reserve banks, and for other purposes.
January 21, 2010
Read the second time and placed on the calendar
U.S. Congress - Text of S.2939 as Placed on Calendar Senate A bill to amend title 31, United States Code to require an audit of the Board of Govern...
