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H.R. 1486 (114th): TABS Act of 2016

The text of the bill below is as of May 6, 2016 (Reported by House Committee). The bill was not enacted into law.


Union Calendar No. 414


2d Session

H. R. 1486

[Report No. 114–538]


March 19, 2015

(for himself, Mr. Duffy, Mr. Neugebauer, Mr. Pearce, Mr. Stivers, and Mr. Hultgren) introduced the following bill; which was referred to the Committee on Financial Services

May 6, 2016

Additional sponsors: Mr. Guinta, Mr. Tipton, Mr. Rothfus, Mr. Pittenger, Mr. Young of Iowa, Mr. Crenshaw, Mr. Huizenga of Michigan, Mr. Fincher, Mr. Yoho, Mr. Rohrabacher, Mr. Ribble, Mr. Rice of South Carolina, Mrs. Love, Mr. Thompson of Pennsylvania, Mr. Walden, Mr. Emmer of Minnesota, Mr. Tom Price of Georgia, Mr. Rokita, Mr. Kelly of Pennsylvania, Mrs. Walorski, Mr. Hurt of Virginia, Mr. Graves of Louisiana, Mr. Rodney Davis of Illinois, Mr. Gibbs, Mr. Allen, Mr. Wilson of South Carolina, Mr. LaMalfa, Mr. Cole, Mr. Chabot, Mr. Poliquin, Mr. Jordan, Mr. Stewart, Mr. DeSantis, Mr. Gosar, Mr. Palmer, Mr. Lucas, Mr. Austin Scott of Georgia, Mr. Conaway, Mr. Luetkemeyer, Mr. Babin, Mr. Williams, Mr. Boustany, Mr. Sessions, Mr. Shuster, and Mr. Young of Alaska

May 6, 2016

Reported with an amendment, committed to the Committee of the Whole House on the State of the Union, and ordered to be printed

Strike out all after the enacting clause and insert the part printed in italic

For text of introduced bill, see copy of bill as introduced on March 19, 2015


To amend the Consumer Financial Protection Act of 2010 to bring the Bureau of Consumer Financial Protection into the regular appropriations process, and for other purposes.


Short title

This Act may be cited as the Taking Account of Bureaucrats’ Spending Act of 2016 or the TABS Act of 2016.


Bringing the Bureau into the regular appropriations process

Section 1017 of the Consumer Financial Protection Act of 2010 (12 U.S.C. 5497) is amended—


in subsection (a)—


by amending the heading of such subsection to read as follows: Budget, financial management, and audit.—;


by striking paragraphs (1), (2), and (3);


by redesignating paragraphs (4) and (5) as paragraphs (1) and (2), respectively; and


by striking subparagraphs (E) and (F) of paragraph (1), as so redesignated;


by striking subsections (b) and (c);


by redesignating subsections (d) and (e) as subsections (b) and (c), respectively; and


in subsection (c), as so redesignated—


by striking paragraphs (1), (2), and (3) and inserting the following:


Authorization of appropriations

There is authorized to be appropriated to the Bureau for fiscal year 2017 an amount equal to the aggregate amount of funds transferred by the Board of Governors to the Bureau during fiscal year 2015.

; and


by redesignating paragraph (4) as paragraph (2).

May 6, 2016

Reported with an amendment, committed to the Committee of the Whole House on the State of the Union, and ordered to be printed