Summary: H.R.4279 — 101st Congress (1989-1990)All Information (Except Text)

Bill summaries are authored by CRS.

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Passed House amended (09/24/1990)

Cash Management Improvement Act of 1990 - Amends Federal law to require each head of an executive agency (other than the Tennessee Valley Authority) to provide for the timely disbursement of Federal funds through cash, checks, electronic funds transfer, or any other means identified by the Secretary of the Treasury. Authorizes the Secretary to collect a charge from any agency which does not comply with such requirement. Requires the Secretary to prescribe implementing regulations.

Revises provisions regarding intergovernmental transfers of funds and provides for the payment of interest on such funds until the time that they are disbursed. Directs the Secretary to issue implementing regulations.

Directs the Secretary to make all reasonable efforts to enter into an agreement with each State relating to procedures and requirements for transfers of funds between executive agencies and States, by not later than two years after the date of enactment of this Act.

Requires, four years after the date of enactment, the Comptroller General to report to the Congress on an audit of the implementation of cash management procedures set up by the Federal/State agreements.