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 House Ways and Means (All Actions)|
This bill has the status Introduced
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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.