I 
116TH CONGRESS 
1ST SESSION H. R. 1167 
To create a zero interest loan program for Federal and District of Columbia 
employees furloughed or excepted from such furlough during a lapse 
in Federal appropriations, and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
FEBRUARY 13, 2019 
Mr. HIGGINS of Louisiana (for himself and Mr. RUPPERSBERGER) introduced 
the following bill; which was referred to the Committee on Financial Services 
A BILL 
To create a zero interest loan program for Federal and 
District of Columbia employees furloughed or excepted 
from such furlough during a lapse in Federal appropria-
tions, and for other purposes. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. ZERO INTEREST LOANS FOR FEDERAL AND DIS-
TRICT OF COLUMBIA EMPLOYEES. 
(a) IN GENERAL.—The Secretary of the Treasury 
shall, each Federal fiscal year, enroll each covered bank 
in a program to be known as the zero interest Federal 
and District of Columbia employee loan program unless 
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such covered bank has elected not to participate in such 
program for such Federal fiscal year. 
(b) ZERO INTEREST LOAN.— 
(1) IN GENERAL.—Any covered bank enrolled 
in the zero interest Federal and District of Columbia 
employee loan program under subsection (a) shall, 
for the first 90 days of any lapse in Federal appro-
priations, upon request, extend a zero interest loan 
to any covered employee. 
(2) AMOUNT OF LOAN.—Any loan or loans pro-
vided to a covered employee under paragraph (1) 
shall be equal to the amount paid to the covered em-
ployee by the United States or the District of Co-
lumbia during the pay period immediately preceding 
the lapse in Federal appropriations. 
(3) MAXIMUM AGGREGATE LOAN AMOUNT.—A 
covered bank enrolled in the zero interest Federal 
and District of Columbia employee loan program 
shall not be required to extend a loan, or loans in 
the aggregate, in an amount greater than $9,000 to 
any individual covered employee with respect to each 
lapse in Federal appropriations. 
(4) TERMS OF LOAN.—Any covered bank that 
extends a loan under this subsection may not require 
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repayment of such loan until 30 days after the con-
clusion of the lapse in Federal appropriations. 
(c) SAFETY
AND SOUNDNESS SAFE HARBOR.—A 
covered bank shall not extend any loan under this section 
if such loan would threaten the safety and soundness of 
the covered bank. 
(d) PUBLISHED LIST.—The Secretary of the Treas-
ury shall publish and maintain, on the Department of the 
Treasury website, a list of all covered banks enrolled in 
the zero interest Federal and District of Columbia em-
ployee loan program for each Federal fiscal year. 
(e) OTHER ASSISTANCE.—Covered banks may pro-
vide other forms of assistance to any covered employee 
during any lapse in appropriations beginning on or after 
December 22, 2018. 
(f) RULEMAKING.—The Secretary of the Treasury 
shall issue rules to carry out this Act. 
(g) DEFINITIONS.—In this Act— 
(1) COVERED BANK.—The term ‘‘covered bank’’ 
means a bank holding company that has been identi-
fied by the Board of Governors of the Federal Re-
serve System as a global systemically important 
bank holding company pursuant to section 217.402 
of title 12, Code of Federal Regulations, and each 
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subsidiary and affiliate of such a bank holding com-
pany. 
(2) COVERED EMPLOYEE.—The term ‘‘covered 
employee’’ means a Federal or District of Columbia 
employee furloughed or excepted from such furlough 
during any lapse in Federal appropriations begin-
ning on or after December 22, 2018, who is not a 
Member of Congress. 
Æ 
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