Title: United States Pandemic Relief Bonds Act of 2020
Policy area: Economics and Public Finance

Summary:
United States Pandemic Relief Bonds Act of 2020
This bill authorizes the Department of the Treasury to issue bonds, to be known as United States Pandemic Relief Bonds, to aid in the funding of relief efforts related to COVID-19 (i.e., coronavirus disease 2019).
Treasury must carry out a program to encourage sales of the bonds, including activities to facilitate purchases of the bonds.

[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[S. 3830 Introduced in Senate (IS)]

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116th CONGRESS
  2d Session
                                S. 3830

  To amend title 31, United States Code, to authorize the issuance of 
 United States Pandemic Bonds to aid in the funding of relief efforts 
            related to coronavirus disease 2019 (COVID-19).


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                              May 21, 2020

 Mr. Sullivan introduced the following bill; which was read twice and 
                  referred to the Committee on Finance

_______________________________________________________________________

                                 A BILL


 
  To amend title 31, United States Code, to authorize the issuance of 
 United States Pandemic Bonds to aid in the funding of relief efforts 
            related to coronavirus disease 2019 (COVID-19).

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

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``United States Pandemic Relief Bonds 
Act of 2020''.

SEC. 2. PURPOSE.

    The purpose of this Act is to authorize the issuance of United 
States Pandemic Bonds to aid in the funding of relief efforts related 
to coronavirus disease 2019 (COVID-19).

SEC. 3. SENSE OF CONGRESS.

    It is the sense of Congress that the Department of the Treasury 
should--
            (1) consider offering Treasury bonds with maturity dates 
        longer than 30 years; and
            (2) significantly increase utilization of long-term debt 
        when interest rates on 30-year Treasury bonds are below 2 
        percent.

SEC. 4. AUTHORIZATION FOR THE ISSUANCE OF UNITED STATES PANDEMIC BONDS.

    Section 3102 of title 31, United States Code, is amended by adding 
at the end the following:
    ``(f) Issuance of United States Pandemic Bonds.--
            ``(1) In general.--The Secretary is authorized to issue 
        bonds under this section, to be known as `United States 
        Pandemic Relief Bonds', to aid in the funding of relief efforts 
        related to coronavirus disease 2019 (COVID-19).
            ``(2) Form.--The bonds authorized by paragraph (1) shall be 
        in such form and denominations, and shall be subject to such 
        terms and conditions of issue, conversion, redemption, 
        maturation, including for terms longer than 30 years, payment, 
        and rate of interest as the Secretary may prescribe.
            ``(3) Marketing.--The Secretary shall carry out a program 
        to encourage sales of United States Pandemic Relief Bonds, 
        including activities to facilitate the purchase of such bonds.
            ``(4) Authorization of appropriations.--There is authorized 
        to be appropriated $5,000,000 for carrying out the marketing 
        program described in paragraph (3).''.
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