S.Amdt. 761
What it does: Adds SEC. __. PROHIBITION ON TAXPAYER BAILOUTS TO STATES EXERCISING AUTHORITY UNDER THIS ACT at the end of the bill
Sen. Kelly Ayotte (R-NH)What it changes
1 change to S. 743 · shown in the bill's text
Adds SEC. __. PROHIBITION ON TAXPAYER BAILOUTS TO STATES EXERCISING AUTHORITY UNDER THIS ACT at the end of the bill
Adds a sectionIn S. 743 · Placed on Calendar Senate
Except as otherwise provided in this Act, this Act shall not be construed to preempt or limit any power exercised or to be exercised by a State or local jurisdiction under the law of such State or local jurisdiction or under any other Federal law.
Inserted: SEC. __. PROHIBITION ON TAXPAYER BAILOUTS TO STATES EXERCISING AUTHORITY UNDER THIS ACT.
Inserted: Notwithstanding any other provision of law, no Federal funds may be used to purchase or guarantee obligations of, issue lines of credit to, provide direct or indirect access to any financing provided by the United States Government to, or provide direct or indirect grants and aid to, any State government, municipal government, local government, or county government that has exercised authority under this Act and which, on or after the date of enactment of this Act, has defaulted on its obligations, is at risk of defaulting, or is likely to default, absent such assistance from the United States Government.
Original wording
At the end, add the following:
Read automatically from the Congressional Record. Check the original before relying on it.
As printed
SA 761. Ms. AYOTTE (for herself and Mrs. Shaheen) submitted an amendment intended to be proposed by her to the bill S. 743, to restore States' sovereign rights to enforce State and local sales and use tax laws, and for other purposes; which was ordered to lie on the table; as follows:
At the end, add the following:
SEC. __. PROHIBITION ON TAXPAYER BAILOUTS TO STATES EXERCISING AUTHORITY UNDER THIS ACT.
Notwithstanding any other provision of law, no Federal funds may be used to purchase or guarantee obligations of, issue lines of credit to, provide direct or indirect access to any financing provided by the United States Government to, or provide direct or indirect grants and aid to, any State government, municipal government, local government, or county government that has exercised authority under this Act and which, on or after the date of enactment of this Act, has defaulted on its obligations, is at risk of defaulting, or is likely to default, absent such assistance from the United States Government.
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Senate amendment submitted
April 24, 2013