,i  #aac? ,,congress  #a/ ,session  ,h4 
,r4 #cjjb  ,,9 ,,! ,,h\se ,,(           
,,repres5tatives  ,augu/ #b1 #bjac ,mr4 
,b>r 7= himself1 ,mr4 ,scalise1 ,mr4    
,flem+1 ,mr4 ,roe ( ,t5nessee1 ,mr4     
,brooks ( ,alabama1 ,mr4 ,labrador1 ,mr4
 ,/utzman1 ,mrs4 ,blackburn1 ,mr4       
,salmon1 ,mr4 ,web] ( ,texas1 ,mr4      
,ribble1 ,mr4 ,posey1 & ,mr4 ,conaway7  
introduc$ ! foll[+ bill2 :i* 0 ref]r$ to
 ! ,committee on ,ov]sight & ,gov]nm5t  
,re=m1 & 9 addition to ! ,committee on  
,f9ancial ,s]vices1 = a p]iod to be     
subsequ5tly det]m9$ by ! ,speak]1 9 ea* 
case = consid]ation ( su* provisions z  
fall )9 ! jurisdiction ( ! committee    
conc]n$  ,a ,,bill  ,to prohibit !      
provision ( ,f$]al funds to ,/ate &     
local gov]nm5ts = paym5t ( obligations1 
to prohibit ! ,bo>d ( ,gov]nors ( !     
,f$]al ,res]ve ,sy/em f f9ancially      
assi/+ ,/ate & local gov]nm5ts1 & = o!r 
purposes4  #a4 ,%ort title ,?is ,act may
 be cit$ z ! ,no ,bail\ts = ,/ate &     
local ,gov]nm5ts ,act4  #b4 ,prohibition

 on ! use ( ,f$]al funds to pay ,/ate & 
local obligations  7a7 ,9 g5]al ,not)/&+
 any o!r provision ( law1 no ,f$]al     
funds may be us$ to pur*ase or gu>antee 
obligations (1 issue l9es ( cr$it to1 or
 provide direct or indirect grants-9-aid
 to any ,/ate gov]nm5t1 municipal       
gov]nm5t1 local gov]nm5t1 or c\nty      
gov]nm5t :i*1 on or aft] ,janu>y #a1    
#bjac1 has fil$ = bankruptcy1 has       
default$ on its obligations1 is at risk 
( default+1 or is likely to default1    
abs5t su* assi/ance f ! ,unit$ ,/ates   
,gov]nm5t1 if su* pur*ase1 gu>antee1    
ext5sion ( cr$it1 or grant is made = !  
purpose ( assi/+ ! gov]nm5t 9--  7#a7   
avoid+ default+ on ! paym5t ( pr9cipal  
or int]e/ due on an obligation ( !      
gov]nm5t2 or  7#b7 cur+ su* a default4  
7b7 ,limit on ,use ( ,borr[$ ,funds ,!  
,secret>y ( ! ,treasury %all n1 directly
 or indirectly1 use g5]al fund rev5ues  
or funds borr[$ pursuant to title #ca1  
,unit$ ,/ates ,code1 to pur*ase or      
gu>antee any asset or obligation ( any  

,/ate gov]nm5t1 municipal gov]nm5t1     
local gov]nm5t1 or c\nty gov]nm5t1 or   
o!rwise to assi/ su* gov]nm5t entity1   
if1 on or aft] ,janu>y #a1 #bjac1 t     
,/ate gov]nm5t1 municipal gov]nm5t1 or  
c\nty gov]nm5t has fil$ = bankruptcy1   
default$ on its obligations1 is at risk 
( default+1 or is likely to default1    
abs5t su* assi/ance f ! ,unit$ ,/ates   
,gov]nm5t1 if su* pur*ase1 gu>antee1    
ext5sion ( cr$it1 or grant is made = !  
purpose ( assi/+ ! gov]nm5t 9--  7#a7   
avoid+ default+ on ! paym5t ( pr9cipal  
or int]e/ due on an obligation ( !      
gov]nm5t2 or  7#b7 cur+ su* a default4  
7c7 ,prohibition on ,f$]al ,res]ve      
assi/ance ,not)/&+ any o!r provision (  
law1 ! ,bo>d ( ,gov]nors ( ! ,f$]al     
,res]ve ,sy/em %all n provide or ext5d  
to1 or au?orize ) respect to1 any ,/ate 
gov]nm5t1 municipal gov]nm5t1 local     
gov]nm5t1 c\nty gov]nm5t1 or o!r entity 
t has tax+ au?ority or bond+ au?ority1  
any funds1 loan gu>antees1 cr$its1 or   
any o!r f9ancial in/rum5t or o!r        

au?ority1 includ+ ! pur*as+ ( ! bonds ( 
su* ,/ate1 municipality1 locality1      
c\nty1 or o!r bond+ au?ority1 or to     
o!rwise assi/ su* gov]nm5t entity "u any
 au?ority ( ! ,bo>d ( ,gov]nors1 if su* 
pur*ase1 gu>antee1 ext5sion ( cr$it1 or 
grant is made = ! purpose ( assi/+ !    
gov]nm5t 9--  7#a7 avoid+ default+ on ! 
paym5t ( pr9cipal or int]e/ due on an   
obligation ( ! gov]nm5t2 or  7#b7 cur+  
su* a default4  7d7 ,limitation         
,subsections 7a7 ?r\gh 7c7 %all n apply 
to ,f$]al assi/ance provid$ 9 response  
to a natural disa/]4