S.Amdt. 1797

1. Adds Sec. __. (a) No funds appropriated or otherwise made available under this Act may be used to provide assistance to any local governmental entity described in subsection (c), including -- wherever appropriate

   Adds a section

   Inserted: Sec. __. (a) No funds appropriated or otherwise made available under this Act may be used to provide assistance to any local governmental entity described in subsection (c), including --

   Inserted: (1) the purchase or guarantee of any asset or obligation of the local governmental entity;

   Inserted: (2) the issuance of a line of credit to the local governmental entity;

   Inserted: (3) the provision of direct or indirect access to any financing to the local governmental entity; or

   Inserted: (4) the provision of any other direct or indirect financial aid to the local governmental entity.

   Inserted: (b) No funds appropriated or otherwise made available under this Act may be made available to a local governmental entity described in subsection (c) that is exiting a bankruptcy case under chapter 9 of title 11, United States Code, unless the local governmental entity has demonstrated a commitment to ensuring the solvency and generally sound financial condition of the local governmental entity.

   Inserted: (c) A local governmental entity described in this subsection is a city, county, township, borough, parish, village, or other general purpose political subdivision of a State that, on or after January 1, 2013, has defaulted on the obligations of such entity, or is at risk of defaulting or is likely to default on the obligations of such entity absent assistance from the Federal Government.

   The amendment doesn't say where this goes; the clerk decides.

   Original wording

   At the appropriate place, insert the following:

Read automatically from the Congressional Record. Check the original before relying on it.

As printed