,,ii  #aac? ,,congress  #a/ ,session    
,s4 #aja  ,,9 ,,! ,,s5ate ,,( ,,!       
,,unit$ ,,/ates  ,janu>y #bc            
7legislative day1 ,janu>y #c71 #bjac    
,mr4 ,vitt] introduc$ ! foll[+ bill2 :i*
 0 read twice & ref]r$ to ! ,committee  
on ,bank+1 ,h\s+1 & ,urban ,affairs  ,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      
,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$it to1 or provide direct or indirect 
grants-&-aid to1 any ,/ate gov]nm5t1    
municipal gov]nm5t1 local gov]nm5t1 or  
c\nty gov]nm5t :i*1 on or aft] ,janu>y  
#bf1 #bjaa1 has default$ on its         
obligations1 is at risk ( default+1 or  
is likely to default1 abs5t su*         

assi/ance f ! ,unit$ ,/ates ,gov]nm5t4  
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 #bf1 #bjaa1 t    
,/ate gov]nm5t1 municipal gov]nm5t1 or  
c\nty gov]nm5t has default$ on its      
obligations1 is at risk ( default+1 or  
is likely to default1 abs5t su*         
assi/ance f ! ,unit$ ,/ates ,gov]nm5t4  
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]nors4  7d7   
,limitation ,subsections 7a7 ?r\gh 7c7  
%all n apply to ,f$]al assi/ance provid$
 9 response to a natural disa/]4