,i  #aaeth ,,congress  #b;d ,session    
,h4 ,r4 #echa  ,,in ,,the ,,house ,,of  
,,representatives  ,march #bb1 #bjah,mr4
 ,royce of ,california 7for himself1    
,mr4 ,luetkemeyer1 and ,mr4 ,ross7      
introduced the following bill2 which was
 referred to the ,committee on          
,oversight and ,government ,reform  ,a  
,,bill  ,to reduce and minimize the     
credit1 guarantee1 and insurance risk of
 all ,federal ,government programs by   
transferring such risk to the private   
sector at market terms1 and for other   
purposes4  #a4 ,short title ,this ,act  
may be cited as the ,government ,risk   
and ,taxpayer ,exposure ,reduction ,act 
of #bjah or the ,,grater ,act of #bjah4 
#b4 ,policy  7a7 ,minimization of       
government risk ,it is the policy of the
 ,united ,states to reduce and minimize 
the credit1 guarantee1 and insurance    
risk of ,federal ,government programs in
 all departments and agencies on an     
ongoing basis to the maximum extent     
possible by transferring all such risk  

to the private sector at market terms   
through a variety of financial          
instruments in a sustained and          
transparent manner4  7b7 ,use of private
 risk capacity ,in the development and  
administration of ,federal ,government  
programs and awards in all departments  
and agencies1 it is the policy of the   
,united ,states to utilize to the       
maximum extent possible1 the use of     
private risk capacity1 consistent with  
the goals and purposes of such programs 
and awards4  #c4 ,strategy and          
implementation  7a7 ,plan               
,notwithstanding any other provision of 
law1 each department and agency of the  
,federal ,government responsible for the
 administration of any credit1          
guarantee1 or insurance program shall1  
for each fiscal year1 develop and       
implement a strategy and implementation 
plan for such program to transfer1 to   
the maximum extent possible1 all such   
credit1 guarantee1 and insurance risk to
 the private sector at market terms     

through a variety of financial          
instruments in a sustained and          
transparent manner4 ,the initial        
strategy and implementation plan1 after 
a #fj-;day period of public comment1    
shall be published in the ,federal      
,register not later than the expiration 
of the #f-month period beginning on the 
date of the enactment of this ,act4  7b7
 ,use of private insurance risk capacity
 ,any department or agency of the       
,federal ,government that is responsible
 for the administration and award of any
 grants or aid shall1 in setting the    
terms of each new award1 seek to utilize
 or encourage the development of1 to the
 maximum extent possible1 insurance risk
 capacity in the private sector both in 
the ,united ,states and in any          
non-,united ,states economy that is the 
recipient or host to such grant or aid1 
at market terms through a variety of    
financial instruments in a sustained and
 transparent manner4 ,the strategy and  
implementation plans required in        

subsection 7a7 shall address the        
utilization and development of private  
risk capacity in program and award      
development and administration4  #d4    
,reporting ,each department and agency  
referred to in section #c shall submit  
the strategy and implementation plan    
developed for each fiscal year pursuant 
to such section to the ,director of the 
,office of ,management and ,budget4 ,for
 each fiscal year1 the ,director shall  
compile a list of all credit1 guarantee1
 and insurance risk transfer programs of
 departments and agencies of the        
,federal ,government and submit such    
list to the ,president and the ,congress
 together with a summary of the success 
to date of each such program1 the       
current and aggregate totals of credit  
risk transferred since the date of the  
enactment of this ,act1 and any         
recommendations to enhance or expand    
such programs4