II 

113TH CONGRESS 

1ST SESSION S. 692 

To rescind certain Federal funds identified by States as unwanted and use 

the funds to reduce the Federal debt. 

IN THE SENATE OF THE UNITED STATES 

APRIL 10, 2013 

Mr. RUBIO (for himself, Mr. ALEXANDER, Mr. BARRASSO, Mr. BLUNT, Mr. 

CHAMBLISS, Mr. COATS, Mr. COBURN, Mr. CORNYN, Mr. ENZI, Mr. 

INHOFE, Mr. ISAKSON, Mr. JOHANNS, Mr. JOHNSON of Wisconsin, Mr. 

MCCONNELL, Mr. PAUL, Mr. RISCH, and Mr. VITTER) introduced the following bill; which was read twice and referred to the Committee on Appropriations 

A BILL 

To rescind certain Federal funds identified by States as 

unwanted and use the funds to reduce the Federal debt. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Returned Exclusively 

5 For Unpaid National Debt Act’’ or the ‘‘REFUND Act’’. 


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•S 692 IS

1 SEC. 2. USE OF UNWANTED FEDERAL FUNDS TO REDUCE 

2 FEDERAL DEBT. 

3 (a) RESCISSION OF UNWANTED FEDERAL FUNDS.— 

4 There is rescinded, from any Federal funds required to 

5 be allocated by formula among all States that agree to 

6 use such funds for a specified purpose, an amount equal 

7 to the amount of such funds that would have otherwise 

8 been allocated to a State that identifies such funds under 

9 subsection (b) as unwanted. 

10 (b) IDENTIFICATION OF FUNDS.—Subsection (a) 

11 shall only apply if, not later than the last date on which 

12 an application or State plan must be submitted in order 

13 for a State to be allocated, in an annual or biennial budget 

14 cycle, funds described in such subsection— 

15 (1) the State legislature with jurisdiction over 

16 such budget cycle adopts a concurrent resolution 

17 identifying the funds as unwanted; and 

18 (2) the State submits notice of the resolution 

19 described in paragraph (1) to the agency head re20 sponsible for allocation of the funds, in such form 

21 and manner and containing such information as the 

22 agency head determines appropriate to make the de23 termination in subsection (c). 

24 (c) DETERMINATION OF AMOUNT TO BE RE25 SCINDED.—An agency head that receives notice described 

26 in subsection (b)(2) shall determine and report to the OfVerDate Mar 15 2010 16:08 Apr 15, 2013 Jkt 029200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6201 E:\BILLS\S692.IS S692

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1 fice of Management and Budget the amount to be re2 scinded under subsection (a). 

3 (d) USE FOR REDUCTION OF FEDERAL DEBT.— 

4 Amounts rescinded under subsection (a) shall be deposited 

5 by the Secretary of the Treasury in the special fund ac6 count ‘‘Gifts to Reduce Debt Held by the Public, Bureau 

7 of the Public Debt, Treasury’’ and used to reduce the Fed8 eral debt as provided in section 3113(d) of title 31, United 

9 States Code. 

10 (e) ANNUAL REPORT.—The Secretary of the Treas11 ury shall submit to the Congress each year a report identi12 fying the amount deposited in the Treasury under sub13 section (d) with respect to each State in such year. 

14 (f) DEFINITIONS.—In this section: 

15 (1) The term ‘‘agency head’’ means the head of 

16 a department or agency of the Federal Government. 

17 (2) The term ‘‘State’’ means— 

18 (A) each of the several States; 

19 (B) the District of Columbia; or 

20 (C) any commonwealth, territory, or pos21 session of the United States. 

Æ 


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