Summary: H.R.7478 — 96th Congress (1979-1980)All Information (Except Text)

Bill summaries are authored by CRS.

Shown Here:
Passed House amended (07/28/1980)

(Measure passed House, amended)

Amends the Second Liberty Bond Act to authorize the Secretary of the Treasury to increase the investment yield on U.S. savings bonds as long as the aggregate increases in a six month period do not exceed one percent per annum compounded semiannually (currently, there is a seven percent ceiling).

Increases the face amount of bonds with interest rates exceeding four and one-half percent which may be outstanding at any time from $50,000,000,000 to $54,000,000,000 (effective on enactment) and to $70,000,000,000 (effective October 1, 1980).