S. 924

National Credit Union Administration Budget Transparency Act

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II

114th CONGRESS

1st Session

S. 924

IN THE SENATE OF THE UNITED STATES

April 14, 2015

Mr. Heller (for himself and Mr. Warner) introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs

A BILL

To require the National Credit Union Administration to hold public hearings and receive comments from the public on its budget, and for other purposes.

1.

Short title

This Act may be cited as the National Credit Union Administration Budget Transparency Act.

2.

Budget transparency for the NCUA

Section 209(b) of the Federal Credit Union Act (12 U.S.C. 1789) is amended—

(1)

by redesignating paragraphs (1) and (2) as paragraphs (2) and (3), respectively;

(2)

by inserting before paragraph (2), as so redesignated, the following:

(1)

on an annual basis and prior to the submission of the detailed business-type budget required under paragraph (2)—

(A)

make publicly available and cause to be printed in the Federal Register a draft of such detailed business-type budget; and

(B)

hold a public hearing, with public notice provided of such hearing, wherein the public can submit comments on the draft of such detailed business-type budget;

; and

(3)

in paragraph (2), as so redesignated—

(A)

by inserting detailed after submit a; and

(B)

by inserting , and where such budget shall address any comments submitted by the public pursuant to paragraph (1)(B) after Control Act.