H.R. 165House108th Congress (2003-2005)In Committee

Private Economy Protection Act of 2003

Introduced January 7, 2003

Legislative Activity

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2 earlier actions
HouseCommittee Latest Action

Referred to the Subcommittee on Domestic and International Monetary Policy, Trade, and Technology.

February 27, 2003

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HouseIntro Referral

Introduced in House

January 7, 2003

HouseIntro Referral

Referred to the House Committee on Financial Services.

January 7, 2003

HouseCommittee

Referred to the Subcommittee on Domestic and International Monetary Policy, Trade, and Technology.

February 27, 2003

Floor Debate

10 members

What members said about H.R. 165 on the floor

3 Republicans7 Democrats
Doug Bereuter
Rep. Doug BereuterR-NE-1 · Apr 9, 2003

Mr. Speaker, I move to suspend the rules and agree to the resolution (H. Res. 165) expressing support for a renewed effort to find a peaceful, just, and lasting settlement to the Cyprus problem, as…

Brad Sherman
Rep. Brad ShermanD-CA-27 · Apr 9, 2003

Mr. Speaker, I yield myself such time as I may consume. Mr. Speaker, I rise in strong support of House Resolution 165. Mr. Speaker, let me first provide some background. On July 20, 1974, thousands…

Joseph Crowley
Rep. Joseph CrowleyD-NY-7 · Apr 9, 2003

Mr. Speaker, I rise today in strong support of House Resolution 165. This resolution is directed at renewed endeavors to find a peaceful, just, and durable solution to the Cyprus conflict. With the…

Ileana Ros-Lehtinen
Rep. Ileana Ros-LehtinenR-FL-18 · Apr 9, 2003

Mr. Speaker, today I want to thank Mr. Bereuter for his leadership in introducing H. Con. Res. 165, expressing support for a renewed effort to find a peaceful, just, and lasting settlement to the…

Carolyn B. Maloney
Rep. Carolyn B. MaloneyD-NY-14 · Apr 9, 2003

Mr. Speaker, I rise in support of H.R. 165 and thank my friends and colleagues, the gentleman from Nebraska (Mr. Bereuter) and the gentleman from California (Mr. Sherman), for their work on this…

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Frank Pallone, Jr.
Rep. Frank Pallone, Jr.D-NJ-6 · Apr 9, 2003

Mr. Speaker, I want to thank my colleague from California (Mr. Sherman) for those kind remarks. Mr. Speaker, as an original co-sponsor of House Resolution 165, I come to the floor this afternoon to…

Diane E. Watson
Rep. Diane E. WatsonD-CA-33 · Apr 9, 2003

Mr. Speaker, a crucial opportunity was missed this spring to bring peace to Cypress. Almost 3 decades of illegal occupation have kept the Cypriot nation divided and its people, both Greek and Turkish…

Robert Wexler
Rep. Robert WexlerD-FL-19 · Apr 9, 2003

Mr. Speaker, I share the hopes of Mr. Bereuter for a peaceful, just and lasting settlement to the long-standing Cyprus issue. Like many of my colleagues, I was disappointed that a comprehensive…

Michael Bilirakis
Rep. Michael BilirakisR-FL-9 · Apr 9, 2003

Mr. Speaker, I thank the gentleman from Nebraska (Mr. Bereuter) for writing this bill and for yielding me time. I also rise in strong support of H. Res. 165, a bill which expresses support for a…

Rush Holt
Rep. Rush HoltD-NJ-12 · Apr 9, 2003

Mr. Speaker, I thank my friend from California for yielding to me, and I rise in support of H. Res. 165 to draw this Chamber's attention to this opportunity that is not yet lost in Cyprus. Cyprus has…

Bill Text

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Introduced in HouseIssued January 7, 2003
        [Congressional Bills 108th Congress]
[From the U.S. Government Publishing Office]
[H.R. 165 Introduced in House (IH)]

108th CONGRESS
1st Session
H. R. 165

To prohibit the Secretary of the Treasury from using surplus funds to
make any investment in securities, other than government and municipal
securities.

_______________________________________________________________________

IN THE HOUSE OF REPRESENTATIVES

January 7, 2003

Mr. Reynolds (for himself, Mr. Doolittle, and Mr. Flake) introduced the
following bill; which was referred to the Committee on Financial
Services

_______________________________________________________________________

A BILL

To prohibit the Secretary of the Treasury from using surplus funds to
make any investment in securities, other than government and municipal
securities.

Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

This Act may be cited as the ``Private Economy Protection Act of
2003''.

SEC. 2. PROHIBITION ON USING FEDERAL SURPLUS FUNDS TO INVEST IN PRIVATE
SECURITIES.

Notwithstanding any other provision of law, the Secretary of the
Treasury may not use surplus funds to make any investment in securities
(within the meaning of the securities laws of the United States) other
than government and municipal securities. For purposes of the preceding
sentence, the term `surplus' shall have the meaning given to such term
by section 3(7) of the Congressional Budget Act of 1974 (2 U.S.C.
622(7)).
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