H.R.4496: FUNDS Act

About This Bill

  • Introduced Feb. 8, 2016
  • Latest Major Action Feb. 8, 2016

Bill Summary

Funding Unpaid National Debt with Settlements Act or the FUNDS Act This bill requires funds collected by the federal government through legal settlements, fines, and penalties (excluding penalties or interest collected by the Internal Revenue Service under the Internal Revenue Code) to be deposited in the general fund of the Treasury for deficit reduction. (Under current law, federal agencies are permitted to spend funds from certain...

(Source: Library of Congress)

Bill Actions

Date Description
Feb. 8, 2016
Referred to the House Committee on the Judiciary.
Feb. 8, 2016

Introduced in the House by David Schweikert (R-Ariz.)

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