[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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