To authorize the Secretary of the Treasury to issue Border Wall Bonds, and for other purposes.

Bill: 115-hr-7304
Sponsor: full_name: Rep. Harris, Andy [R-MD-1]
Introduced: 2018-12-13
Policy area: Economics and Public Finance
Subjects: Appropriations

Border security and unlawful immigration

Government trust funds

Securities
Latest action: action_date: 2018-12-13
text: Referred to the House Committee on Ways and Means.

Summaries:
action_date: 2018-12-13
action_desc: Introduced in House
text: <p>This bill authorizes the Department of the Treasury to issue bonds known as Border Wall Bonds to finance the construction of a physical barrier along the southern border of the United States. </p> <p>The bill establishes the Border Wall Trust Fund in the Treasury and provides appropriations to the fund equal to the revenues derived from the sale and issuance of the Border Wall Bonds. The amounts in the trust fund are only available for expenditures to build a physical barrier along the southern border of the United States.</p>

tv_txt: I 115th CONGRESS 2d Session H. R. 7304 IN THE HOUSE OF REPRESENTATIVES December 13, 2018 Mr. Harris (for himself, Mr. Gaetz , and Mr. Griffith ) introduced the following bill; which was referred to the Committee on Ways and Means A BILL To authorize the Secretary of the Treasury to issue Border Wall Bonds, and for other purposes.

1. Border Wall Bonds; Border Wall Trust Fund (a) Authority To issue Border Wall Bonds Section 3102 of title 31, United States Code, is amended by adding at the end the following new subsection: (f) Border Wall Bonds The Secretary is authorized to issue bonds under this section, to be known as Border Wall Bonds . The bonds authorized by this subsection shall be in such form and denominations, and shall be subject to such terms and conditions of issue, conversion, redemption, maturation, payment, and rate of interest as the Secretary may prescribe, except that no interest shall be payable with respect to such a bond before the date that is ten years after the date of the enactment of this subsection. . (b) Border Wall Trust Fund (1) Establishment of trust fund There is established in the Treasury of the United States a trust fund to be known as the Border Wall Trust Fund , consisting of such amounts as may be appropriated, credited, or transferred to such Trust Fund as provided in this section or other provision of law. (2) Transfers to trust fund There are hereby appropriated to the Border Wall Trust Fund amounts equivalent to all revenues derived from the sale and issuance of Border Wall Bonds issued under section 3102 of title 31, United States Code. (3) Expenditures from trust fund Amounts in the Border Wall Trust Fund shall be available only for purposes of making expenditures to build a physical barrier along the southern border of the United States.