TABS Act of 2016

Bill: 114-hr-1486
Sponsor: full_name: Rep. Barr, Andy [R-KY-6]
Introduced: 2015-03-19
Policy area: Finance and Financial Sector
Subjects: Appropriations

Consumer Financial Protection Bureau

Consumer affairs

Executive agency funding and structure

Federal Reserve System

Financial services and investments
Latest action: action_date: 2016-05-06
text: Placed on the Union Calendar, Calendar No. 414.

Summaries:
action_date: 2015-03-19
action_desc: Introduced in House
text: <p><b>Taking Account of Bureaucrats' Spending Act of 2015 or the TABS Act of 2015</b></p> <p>This bill amends the Consumer Financial Protection Act of 2010 to eliminate provisions that fund the Consumer Financial Protection Bureau (CFPB) using transfers from the earnings of the Federal Reserve System. The transfers under current law permit the CFPB to be funded outside of the annual appropriations process, and this bill brings the CFPB into the regular process. </p>

action_date: 2016-05-06
action_desc: Reported to House with amendment(s)
text: <p><b>Taking Account of Bureaucrats' Spending Act of 2016 or the TABS Act of </b> <b>2016</b></p> <p>(Sec. 2) This bill amends the Consumer Financial Protection Act of 2010 to eliminate provisions that fund the Consumer Financial Protection Bureau (CFPB) using transfers from the earnings of the Federal Reserve System. The transfers under current law permit the CFPB to be funded outside of the annual appropriations process, and this bill brings the CFPB into the regular process. </p>

tv_txt: I 114th CONGRESS 1st Session H. R. 1486 IN THE HOUSE OF REPRESENTATIVES March 19, 2015 Mr. Barr (for himself, Mr. Duffy , Mr. Neugebauer , Mr. Pearce , Mr. Stivers , and Mr. Hultgren ) introduced the following bill; which was referred to the Committee on Financial Services A BILL To amend the Consumer Financial Protection Act of 2010 to bring the Bureau of Consumer Financial Protection into the regular appropriations process, and for other purposes.

1. Short title This Act may be cited as the Taking Account of Bureaucrats’ Spending Act of 2015 or the TABS Act of 2015 . 2. Bringing the Bureau into the regular appropriations process Section 1017 of the Consumer Financial Protection Act of 2010 ( 12 U.S.C. 5497 ) is amended— (1) in subsection (a)— (A) by amending the heading of such subsection to read as follows: Budget, financial management, and audit.— ; (B) by striking paragraphs (1), (2), and (3); (C) by redesignating paragraphs (4) and (5) as paragraphs (1) and (2), respectively; and (D) by striking subparagraphs (E) and (F) of paragraph (1), as so redesignated; (2) by striking subsections (b) and (c); (3) by redesignating subsections (d) and (e) as subsections (b) and (c), respectively; and (4) in subsection (c), as so redesignated— (A) by striking paragraphs (1), (2), and (3) and inserting the following: (1) Authorization of appropriations There are authorized to be appropriated such sums as may be necessary to carry out this title for each of fiscal years 2016 and 2017. ; and (B) by redesignating paragraph (4) as paragraph (2).

tv_txt: IB Union Calendar No. 414 114th CONGRESS 2d Session H. R. 1486 [Report No. 114–538] IN THE HOUSE OF REPRESENTATIVES March 19, 2015 Mr. Barr (for himself, Mr. Duffy , Mr. Neugebauer , Mr. Pearce , Mr. Stivers , and Mr. Hultgren ) introduced the following bill; which was referred to the Committee on Financial Services May 6, 2016 Additional sponsors: Mr. Guinta , Mr. Tipton , Mr. Rothfus , Mr. Pittenger , Mr. Young of Iowa , Mr. Crenshaw , Mr. Huizenga of Michigan , Mr. Fincher , Mr. Yoho , Mr. Rohrabacher , Mr. Ribble , Mr. Rice of South Carolina , Mrs. Love , Mr. Thompson of Pennsylvania , Mr. Walden , Mr. Emmer of Minnesota , Mr. Tom Price of Georgia , Mr. Rokita , Mr. Kelly of Pennsylvania , Mrs. Walorski , Mr. Hurt of Virginia , Mr. Graves of Louisiana , Mr. Rodney Davis of Illinois , Mr. Gibbs , Mr. Allen , Mr. Wilson of South Carolina , Mr. LaMalfa , Mr. Cole , Mr. Chabot , Mr. Poliquin , Mr. Jordan , Mr. Stewart , Mr. DeSantis , Mr. Gosar , Mr. Palmer , Mr. Lucas , Mr. Austin Scott of Georgia , Mr. Conaway , Mr. Luetkemeyer , Mr. Babin , Mr. Williams , Mr. Boustany , Mr. Sessions , Mr. Shuster , and Mr. Young of Alaska May 6, 2016 Reported with an amendment, committed to the Committee of the Whole House on the State of the Union, and ordered to be printed Strike out all after the enacting clause and insert the part printed in italic For text of introduced bill, see copy of bill as introduced on March 19, 2015 A BILL To amend the Consumer Financial Protection Act of 2010 to bring the Bureau of Consumer Financial Protection into the regular appropriations process, and for other purposes.

1. Short title This Act may be cited as the Taking Account of Bureaucrats’ Spending Act of 2016 or the TABS Act of 2016 . 2. Bringing the Bureau into the regular appropriations process Section 1017 of the Consumer Financial Protection Act of 2010 ( 12 U.S.C. 5497 ) is amended— (1) in subsection (a)— (A) by amending the heading of such subsection to read as follows: Budget, financial management, and audit.— ; (B) by striking paragraphs (1), (2), and (3); (C) by redesignating paragraphs (4) and (5) as paragraphs (1) and (2), respectively; and (D) by striking subparagraphs (E) and (F) of paragraph (1), as so redesignated; (2) by striking subsections (b) and (c); (3) by redesignating subsections (d) and (e) as subsections (b) and (c), respectively; and (4) in subsection (c), as so redesignated— (A) by striking paragraphs (1), (2), and (3) and inserting the following: (1) Authorization of appropriations There is authorized to be appropriated to the Bureau for fiscal year 2017 an amount equal to the aggregate amount of funds transferred by the Board of Governors to the Bureau during fiscal year 2015. ; and (B) by redesignating paragraph (4) as paragraph (2).

May 6, 2016 Reported with an amendment, committed to the Committee of the Whole House on the State of the Union, and ordered to be printed