Summary: S.2162 — 97th Congress (1981-1982)All Information (Except Text)

There is one summary for S.2162. Bill summaries are authored by CRS.

Shown Here:
Introduced in Senate (03/02/1982)

Truth in Budgeting Act of 1982 - Amends the Federal Financing Bank Act of 1973 to require that the receipts and disbursements of the Federal Financing Bank be included in the totals of the budget of the United States Government.

Authorizes the Director of the Office of Management and Budget to issue regulations providing that the budget authority and outlays arising from the Federal Financing Bank's operations shall be charged to the account of the appropriate Federal agency.

Prohibits a Federal agency from: (1) issuing or selling an obligation of a type ordinarily financed in investment securities markets unless that obligation is first offered for sale to the Bank; or (2) guaranteeing such an obligation unless the terms of the guarantee will cease to be effective if the obligation is held by any person or governmental entity other than the guaranteeing agency or the Bank.

Permits the Secretary of the Treasury to waive such requirements with respect to the types of obligations that the Secretary determines are not appropriate investments for the Bank.