H.R. 2553 – Reading Mode

115th CONGRESS

1st Session

H. R. 2553

IN THE HOUSE OF REPRESENTATIVES

May 19, 2017

Mr. Barr (for himself, Mr. Tipton, Mr. Rothfus, Mrs. Love, Mrs. Wagner, Mr. Duffy, Ms. Tenney, Mr. Loudermilk, Mr. Stivers, Mr. Hultgren, Mr. Pittenger, Mr. Emmer, Mr. Hollingsworth, Mr. Davidson, Mr. Trott, and Mr. Williams) introduced the following bill; which was referred to the Committee on Financial Services

A BILL

To amend the Consumer Financial Protection Act of 2010 to bring the Bureau of Consumer Financial Protection into the regular appropriations process, and for other purposes.

Short title

This Act may be cited as the Taking Account of Bureaucrats’ Spending Act of 2017 or the TABS Act of 2017.

Bringing the Bureau into the regular appropriations process

Section 1017 of the Consumer Financial Protection Act of 2010 (12 U.S.C. 5497) is amended—

(1)

in subsection (a)—

(A)

by amending the heading of such subsection to read as follows: Budget, financial management, and audit.—;

(B)

by striking paragraphs (1), (2), and (3);

(C)

by redesignating paragraphs (4) and (5) as paragraphs (1) and (2), respectively; and

(D)

by striking subparagraphs (E) and (F) of paragraph (1), as so redesignated;

(2)

by striking subsections (b) and (c);

(3)

by redesignating subsections (d) and (e) as subsections (b) and (c), respectively; and

(4)

in subsection (c), as so redesignated—

(A)

by striking paragraphs (1), (2), and (3) and inserting the following:

(1)

Authorization of appropriations

There are authorized to be appropriated such sums as may be necessary to carry out this title for each of fiscal years 2018 and 2019.

; and

(B)

by redesignating paragraph (4) as paragraph (2).