H.R. 4304 — Introduced in House

I 117th CONGRESS 1st Session H. R. 4304 IN THE HOUSE OF REPRESENTATIVES July 1, 2021Mr. Budd introduced the following bill; which was referred to the Committee on Oversight and Reform A BILL To prohibit the General Services Administration from awarding contracts to certain insured depository institutions that avoid doing business with certain companies that are engaged in lawful commerce based solely on social policy considerations. 1. Short title This Act may be cited as the No Red and Blue Banks Act. 2. Insured depository institutions (a) In general The General Services Administration may not award a contract to an insured depository institution, as defined in section 3 of the Federal Deposit Insurance Act (12 U.S.C. 1813), or an affiliate of a depository institution if the insured depository institution or affiliate avoids doing business with certain companies that the insured depository institution or affiliate believes are engaged in lawful commerce based solely on social policy considerations. (b) Applicability This Act shall not apply to any contract awarded before the date of enactment of this Act.