A bill to authorize the Secretary of the Treasury to invest public monies.

Summary

Authorizes the Secretary of the Treasury, for cash management purposes, to invest any portion of the Treasury's operating cash for periods of up to 90 days in (1) obligations of depositories maintaining Treasury tax and loan accounts secured by a pledge of collateral acceptable to the Secretary as security for tax and loan accounts, and (2) obligations of the United States and of agencies of the United States. Amends the Home Owners' Loan Act to authorize the Secretary of the Treasury to deposit public money in any federal savings and loan association or member of a federal home loan bank. Amends the National Housing Act to make institutions insured by the Federal Savings and Loan Insurance Corporation depositories of public money. Amends the Internal Revenue Code to define qualified savings and loan associations which may receive tax payments.

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Documents

1 official file

• Introduced in House

  summary · EN · 23 February 1977

  Open at official source

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