H.R.1119 - Bailouts Are Not For Sale Act

To prevent funding provided through the Federal Reserve System from being made available to corporations that finance political campaigns or political propaganda, and for other purposes. view all titles (2)

All Bill Titles

  • Official: To prevent funding provided through the Federal Reserve System from being made available to corporations that finance political campaigns or political propaganda, and for other purposes. as introduced.
  • Short: Bailouts Are Not For Sale Act as introduced.

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Introduced
 
House
Passes
 
Senate
Passes
 
President
Signs
 

 
03/13/13
 
 
 
 
 
 
 

Official Summary

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

Official Summary

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.

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