S.2939: State, Territory, and Local Government Bailout Prevention Act

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Bill Summary

State, Territory, and Local Government Bailout Prevention Act This bill prohibits the use of federal funds to purchase or guarantee obligations of, issue lines of credit to, or provide direct or indirect grants-in-aid to any state (defined to include Puerto Rico and any other U.S. territory or possession), municipal, local, or county government that, on or after May 1, 2016, has defaulted on its obligations, is at risk of defaulting, or is...

(Source: Library of Congress)

Bill Actions

Date Description
May 17, 2016
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
May 17, 2016

Introduced in the Senate by David Vitter (R-La.)

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