II 

114TH CONGRESS 

1ST SESSION S. 744 

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 

MARCH 16, 2015 

Mr. RUBIO (for himself, Mr. BARRASSO, Mr. COATS, Mr. INHOFE, Mr. JOHNSON, Mr. PORTMAN, and Mr. RISCH) 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’’. 

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

7 FEDERAL DEBT. 

8 (a) RESCISSION OF UNWANTED FEDERAL FUNDS.— 

9 There is rescinded, from any Federal funds required to 

10 be allocated by formula among all States that agree to 


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

2 to the amount of such funds that would have otherwise 

3 been allocated to a State that identifies such funds under 

4 subsection (b) as unwanted. 

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

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

7 an application or State plan is required to be submitted 

8 in order for a State to be allocated, in an annual or bien9 nial budget cycle, funds described in such subsection— 

10 (1) the State legislature with jurisdiction over 

11 such budget cycle adopts a concurrent resolution 

12 identifying the funds as unwanted; and 

13 (2) the State submits notice of the resolution 

14 described in paragraph (1) to the agency head re15 sponsible for allocation of the funds, in such form 

16 and manner and containing such information as the 

17 agency head determines appropriate to make the de18 termination in subsection (c). 

19 (c) DETERMINATION OF AMOUNT TO BE RE20 SCINDED.—An agency head that receives notice described 

21 in subsection (b)(2) shall determine and report to the Of22 fice of Management and Budget the amount to be re23 scinded under subsection (a). 

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

25 Amounts rescinded under subsection (a) shall be deposited 


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1 by the Secretary of the Treasury in the account entitled 

2 ‘‘Gifts to the United States for Reduction of the Public 

3 Debt’’ and used to reduce the Federal debt as provided 

4 in section 3113(d) of title 31, United States Code. 

5 (e) ANNUAL REPORT.—The Secretary of the Treas6 ury shall submit to the Congress each year a report identi7 fying the amount deposited in the Treasury under sub8 section (d) with respect to each State in such year. 

9 (f) DEFINITIONS.—In this section: 

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

11 an agency of the Federal Government. 

12 (2) The term ‘‘State’’ means— 

13 (A) each of the several States; 

14 (B) the District of Columbia; or 

15 (C) any commonwealth, territory, or pos16 session of the United States. 

Æ 


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