H.R.4678 - Federal Financial Statement Transparency Act of 2014113th Congress (2013-2014)
|Sponsor:||Rep. Renacci, James B. [R-OH-16] (Introduced 05/20/2014)|
|Committees:||House - Oversight and Government Reform; Ways and Means|
|Latest Action:||05/20/2014 Referred to the Committee on Oversight and Government Reform, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.|
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Summary: H.R.4678 — 113th Congress (2013-2014)All Bill Information (Except Text)
Introduced in House (05/20/2014)
Federal Financial Statement Transparency Act of 2014 - Establishes in the executive branch an independent Federal Accounting Standards Advisory Board (FASAB) to develop federal financial accounting concepts or standards, giving consideration to the budgetary information needs of executive agencies and the needs of users of federal financial information.
Directs the Secretary of the Treasury to establish a FASAB operations fund to enable the FASAB to carry out its duties.
Requires the Secretary to assess a fee on each sale of a security for deposit into the fund.