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H.R. 8014 (116th): Victory Bonds Act of 2020


The text of the bill below is as of Aug 11, 2020 (Introduced). The bill was not enacted into law.


I

116th CONGRESS

2d Session

H. R. 8014

IN THE HOUSE OF REPRESENTATIVES

August 11, 2020

(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.