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Senate Bill 743
117th Congress(2021-2022)
State Fiscal Flexibility Act of 2021
Introduced
Introduced
Introduced in Senate on Mar 15, 2021
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Text
Introduced in Senate 
Mar 15, 2021
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Introduced in Senate(Mar 15, 2021)
Mar 15, 2021
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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.
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S. 743 (Introduced-in-Senate)


117th CONGRESS
1st Session
S. 743


To amend title VI of the Social Security Act to remove the prohibition on States and territories against lowering their taxes.

IN THE SENATE OF THE UNITED STATES

March 15, 2021

Mr. Crapo (for himself, Mr. Grassley, Mr. Cornyn, Mr. Portman, Mr. Scott of South Carolina, Mr. Lankford, Mr. Daines, Mr. Young, Mr. Risch, and Mr. Thune) introduced the following bill; which was read twice and referred to the Committee on Finance

A BILL

To amend title VI of the Social Security Act to remove the prohibition on States and territories against lowering their taxes.

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 “State Fiscal Flexibility Act of 2021”.

SEC. 2. Removal of restriction of use of Coronavirus State Fiscal Recovery funds.

(a) In general.—Paragraph (2) of section 602(c) of the Social Security Act, as added by section 9901 of the American Rescue Plan Act of 2021, is amended to read as follows:

“(2) FURTHER RESTRICTION ON USE OF FUNDS.—No State or territory may use funds made available under this section for deposit into any pension fund.”.

(b) Conforming amendments.—Section 602 of such Act is further amended—

(1) in subsection (d)(2)(A), by striking “, including, in the case of a State or a territory, all modifications to the State's or territory's tax revenue sources during the covered period”;

(2) in subsection (e), by striking “such subsection,” and all that follows through the period and inserting “such subsection.”; and

(3) in subsection (g)—

(A) by striking paragraph (1); and

(B) by redesignating paragraphs (2) through (7) as paragraphs (1) through (6), respectively.

(c) Effective date.—The amendments made by this section shall take effect as if included in the enactment of the American Rescue Plan Act of 2021.