,i  #aafth ,,congress  #b;d ,session    
,h4 ,r4 #fcbh  ,,in ,,the ,,house ,,of  
,,representatives  ,march #bc1 #bjbj,ms4
 ,tlaib 7for herself1 ,ms4 ,pressley1   
,ms4 ,ocasio-,cortez1 ,mr4 ,san         
,nicolas1 ,ms4 ,norton1 ,ms4 ,jayapal1  
,mr4 ,raskin1 ,mr4 ,levin of ,michigan1 
,mr4 ,garca of ,illinois1 ,mrs4 ,carolyn
 ,b4 ,maloney of ,new ,york1 ,ms4 ,omar1
 ,mr4 ,green of ,texas1 ,mr4 ,carson of 
,indiana1 ,mrs4 ,watson ,coleman1 ,mr4  
,pocan1 ,ms4 ,velzquez1 ,mr4 ,neguse1   
,mr4 ,soto1 ,mr4 ,danny ,k4 ,davis of   
,illinois1 ,mr4 ,rouda1 ,mr4 ,nadler1   
,ms4 ,adams1 ,ms4 ,garcia of ,texas1 and
 ,ms4 ,haaland7 introduced the following
 bill2 which was referred to the        
,committee on ,financial ,services  ,a  
,,bill  ,to authorize ,federal reserve  
banks to purchase ,,covid-#ai related   
municipal issuances1 and for other      
purposes4  #a4 ,short title ,this ,act  
may be cited as the ,emergency ,relief  
for ,state1 ,territorial and ,local     
,governments ,act of #bjbj4  #b4        

,purchase of ,,covid-#ai related        
municipal issuances  7a7 ,amendment to  
authority ,to buy and sell bonds and    
notes ,section #ad7;b7 of the ,federal  
,reserve ,act 7#ab ,u4,s4,c4 #cee7 is   
amended-- 7#a7 in paragraph 7#a7-- 7,a7 
by inserting and during unusual and     
exigent circumstances1 before bonds     
issued2 and  7,b7 by striking of #aicc  
and all that follows through assured    
revenues2 and  7#b7 by adding at the end
 the following3  7#c7 ,state defined ,in
 this section1 the term ,state means    
each of the several ,states1 the        
,district of ,columbia1 each territory  
and possession of the ,united ,states1  
and each federally recognized ,indian   
,tribe4  4  7b7 ,federal ,reserve       
authorization ,to purchase ,,covid-#ai  
related municipal issuances  7#a7       
,authority ,within seven days after the 
date of enactment of this subsection1   
the ,federal ,reserve ,board of         
,governors shall establish a facility to
 buy and sell1 at home or abroad1 bills1

 notes1 bonds1 and warrants that are    
issued by any ,state or political       
subdivision thereof between ,march #a1  
#bjbj1 and ,july #a1 #bjba1 in order to 
fund a public health or public service  
response to the ,,covid-#ai pandemic4   
,the ,board of ,governors of the        
,federal ,reserve ,system may extend the
 authority under this subsection if the 
,board determines necessary4  7#b7      
,required purchases ,the ,board of      
,governors of the ,federal ,reserve     
,system shall establish policies and    
procedures to require the direct        
placement of bills1 notes1 bonds1 and   
warrants described in paragraph 7#a7    
with the ,board at an interest cost that
 does not exceed the ,federal funds rate
 target for short-term interbank        
lending1 within seven days after the    
date of enactment of this section4  7#c7
 ,review of spending ,during the #c-year
 period beginning on the date on which  
all purchases under this section are    
completed1 relevant ,federal authorities

 shall review such purchases to         
determine if funds were diverted from   
legitimate public health or public      
services responses to the ,,covid-#ai   
pandemic to make such purchase4 ,the    
relevant ,federal authorities shall take
 appropriate action based on findings of
 such review4  7#d7 ,definitions ,in    
this subsection3 7,a7 ,public health or 
public service response to the          
,,covid-#ai pandemic ,the term public   
health or public service response to the
 ,,covid-#ai pandemic means-- 7i7 the   
purchase1 manufacture1 or delivery of   
medical equipment1 facilities1 or       
services-- 7,i7 to treat or quarantine  
,,covid-#ai patients2  7,,ii7 to protect
 first responders interacting with such 
patients2 or  7,,iii7 to test for       
,,covid-#ai infections and track social 
contacts of patients who have tested    
positive for the virus2  7ii7 the       
purchase1 manufacture1 or delivery of   
basic living supports for individuals   
who are not ,,covid-#ai patients during 

periods of voluntary or mandatory social
 distancing or quarantine designed to   
prevent the spread of ,,covid-#ai2 or   
7iii7 the maintenance and delivery of   
basic public services to communities    
responding to the public health or      
economic effects of the ,,covid-#ai     
pandemic4  7,b7 ,state ,the term ,state 
means each of the several ,states1 the  
,district of ,columbia1 each territory  
and possession of the ,united ,states1  
and each federally recognized ,indian   
,tribe4