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House Bill 8982
116th Congress(2019-2020)
FOMC Policy Responsibility Act
Introduced
Introduced
Introduced in House on Dec 16, 2020
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Text
Introduced in House 
Dec 16, 2020
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Introduced in House(Dec 16, 2020)
Dec 16, 2020
No Linkage Found
About Linkage
Multiple bills can contain the same text. This could be an identical bill in the opposite chamber or a smaller bill with a section embedded in a larger bill.
Bill Sponsor regularly scans bill texts to find sections that are contained in other bill texts. When a matching section is found, the bills containing that section can be viewed by clicking "View Bills" within the bill text section.
Bill Sponsor is currently only finding exact word-for-word section matches. In a future release, partial matches will be included.
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H. R. 8982 (Introduced-in-House)


116th CONGRESS
2d Session
H. R. 8982


To amend the Federal Reserve Act to require the Federal Open Market Committee to establish interest rates on balances maintained at a Federal Reserve Bank by depository institutions.

IN THE HOUSE OF REPRESENTATIVES

December 16, 2020

Mr. Hill of Arkansas introduced the following bill; which was referred to the Committee on Financial Services

A BILL

To amend the Federal Reserve Act to require the Federal Open Market Committee to establish interest rates on balances maintained at a Federal Reserve Bank by depository institutions.

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 “FOMC Policy Responsibility Act”.

SEC. 2. Interest rates on balances maintained at a Federal Reserve Bank by depository institutions established by Federal Open Market Committee.

Subparagraph (A) of section 19(b)(12) of the Federal Reserve Act (12 U.S.C. 461(b)(12)(A)) is amended by inserting “established by the Federal Open Market Committee” after “rate or rates”.