H.R.282 - REFUND Act113th Congress (2013-2014)
|Sponsor:||Rep. Fleischmann, Charles J. "Chuck" [R-TN-3] (Introduced 01/15/2013)|
|Committees:||House - Appropriations|
|Latest Action:||01/15/2013 Referred to the House Committee on Appropriations.|
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Summary: H.R.282 — 113th Congress (2013-2014)All Bill Information (Except Text)
Introduced in House (01/15/2013)
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Requires such rescinded amounts to: (1) be deposited by the Secretary of the Treasury in the special fund account entitled "Gifts to Reduce Debt Held by the Public, Bureau of the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.