Audit and Return It Act

Bill: 118-hr-1011
Sponsor: full_name: Rep. Finstad, Brad [R-MN-1]
Introduced: 2023-02-14
Policy area: Economics and Public Finance
Latest action: action_date: 2023-02-14
text: Referred to the Committee on Oversight and Accountability, and in addition to the Committee on Appropriations, 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: 2023-02-14
action_desc: Introduced in House
text: <p><b>Audit and Return It Act</b></p> <p>This bill establishes requirements for auditing and rescinding unobligated funds that were provided to address COVID-19.</p> <p>Specifically, the bill requires the Office of Management and Budget (OMB) to (1) conduct an audit of specified funds that were provided to address COVID-19, and (2) issue a report listing the unobligated funds that remain available.</p> <p>The bill also requires the unobligated funds to be (1) rescinded on the date the OMB report is issued, and (2) deposited into the Treasury for the sole purpose of deficit reduction.</p> <p>The bill applies to unobligated funds that were provided by</p> <ul> <li>the Coronavirus Preparedness and Response Supplemental Appropriations Act, 2020;</li> <li>the Families First Coronavirus Response Act;</li> <li>the Coronavirus Aid, Relief, and Economic Security Act (CARES Act);</li> <li>the Paycheck Protection Program and Health Care Enhancement Act;</li> <li>Divisions M and N of the Consolidated Appropriations Act, 2021; and</li> <li>the American Rescue Plan Act of 2021.</li> </ul>

tv_txt: I 118th CONGRESS 1st Session H. R. 1011 IN THE HOUSE OF REPRESENTATIVES February 14, 2023 Mr. Finstad (for himself, Mr. Gosar , Mr. Norman , Mr. Mann , Mrs. Boebert , Mr. Obernolte , Mr. Burgess , Mrs. Miller of Illinois , Mr. Donalds , Ms. Hageman , Ms. Mace , and Mr. Weber of Texas ) introduced the following bill; which was referred to the Committee on Oversight and Accountability , and in addition to the Committee on Appropriations , 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 require the Director of the Office of Management and Budget to conduct an audit of any unobligated coronavirus-related funding and to rescind all such funding, and for other purposes.

1. Short title This Act may be cited as the Audit and Return It Act . 2. OMB audit of Covid funding and rescission (a) Audit (1) In general Not later than 30 days after the date of enactment of this Act, the Director of the Office of Management and Budget shall conduct an audit of appropriations provided by provisions of law described in paragraph (2) and issue a report listing the unobligated amounts that remain available under any such provision. (2) Provisions of law The provisions of law described in this paragraph are the following: (A) The Coronavirus Preparedness and Response Supplemental Appropriations Act, 2020 ( Public Law 116–123 ). (B) The Families First Coronavirus Response Act ( Public Law 116–127 ). (C) The Coronavirus Aid, Relief, and Economic Security Act ( Public Law 116–136 ). (D) The Paycheck Protection Program and Health Care Enhancement Act ( Public Law 116–139 ). (E) Divisions M and N of the Consolidated Appropriations Act, 2021 ( Public Law 116–260 ). (F) The American Rescue Plan Act of 2021 ( Public Law 117–2 ). (b) Rescission On the date the report is issued under subsection (a)(1), all unobligated amounts listed in such report are hereby rescinded and shall be deposited into the general fund of the Treasury for the sole purpose of deficit reduction.