Victory Bonds Act of 2020

Bill: 116-hr-8014
Sponsor: full_name: Rep. Larson, John B. [D-CT-1]
Introduced: 2020-08-11
Policy area: Economics and Public Finance
Subjects: Cardiovascular and respiratory health

Economic performance and conditions

Emergency medical services and trauma care

Health programs administration and funding

Health promotion and preventive care

Immunology and vaccination

Infectious and parasitic diseases

Medical tests and diagnostic methods

Securities

Small business
Latest action: action_date: 2020-08-11
text: Referred to the Committee on Ways and Means, and in addition to the Committees on Energy and Commerce, and Small Business, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

Summaries:
action_date: 2020-08-11
action_desc: Introduced in House
text: <p><b>Victory Bonds Act of 2020</b></p> <p>This bill authorizes the Department of the Treasury to issue bonds, to be known as United States Victory Bonds, to aid in the funding of public health operations and small business assistance during the COVID-19 (i.e., coronavirus disease 2019) pandemic.</p> <p>Funds received from the sale of the bonds must be used without further appropriation for (1) the public health response to COVID-19, including testing, treatment, tracing, and vaccine development; (2) assistance for small businesses impacted by COVID-19; and (3) future pandemic response preparations following the conclusion of the pandemic. </p>

tv_txt: I 116th CONGRESS 2d Session H. R. 8014 IN THE HOUSE OF REPRESENTATIVES August 11, 2020 Mr. Larson of Connecticut (for himself, Mr. Kelly of Pennsylvania , Mr. Courtney , Mr. Ryan , Mr. Michael F. Doyle of Pennsylvania , Mr. Suozzi , Ms. Sánchez , Ms. Judy Chu of California , Mr. Lynch , Ms. Kaptur , Mr. Khanna , and Mr. San Nicolas ) introduced the following bill; which was referred to the Committee on Ways and Means , and in addition to the Committees on Energy and Commerce , and Small Business , for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned A BILL To authorize the issuance of United States Victory Bonds to aid in the funding of public health operations and small business assistance during the coronavirus pandemic, and for other purposes.

1. Short title This Act may be cited as the Victory Bonds Act of 2020 . 2. Purpose The purpose of this Act is to authorize the issuance of United States Victory Bonds to aid in the funding of public health operations and small business assistance during the coronavirus pandemic. 3. Authorization for the issuance of United States Victory Bonds (a) In general Section 3102 of title 31, United States Code, is amended by adding at the end the following: (f) Issuance of United States Victory Bonds (1) In general The Secretary is authorized to issue bonds under this section, to be known as United States Victory Bonds , to aid in the funding of public health operations and small business assistance during the coronavirus pandemic. (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, payment, and rate of interest as the Secretary may prescribe. Such terms and conditions shall ensure that the people of the United States have as nearly as possible an equal opportunity to participate in subscribing to the offered bonds, including by purchase from personal residences and in accessible denominations. . (b) Availability of funds Amounts received into the Treasury from the sale of United States Victory Bonds under section 3102(f) of title 31, United States Code, shall be available without further appropriation for— (1) the public health response to the coronavirus, including testing, treatment, tracing, and vaccine development; (2) small business assistance for businesses impacted by the coronavirus; and (3) following the conclusion of the pandemic, for future pandemic response preparations.