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United States · Bill · S

S. 1296 (105th)

Postal Financing Reform Act of 1997

referredUnited States· United States Congress· EN

Introduced

20 October 1997

Last action

20 October 1997 · Introduced

Status

Read twice and referred to the Committee on Governmental Affairs.

Sponsors

Sen. Cochran, Thad [R-MS]

Subjects

Postal service

Source updated

21 August 2025

Postal service

Official sourceDownload fileView documentsShare

Summary

Postal Financing Reform Act of 1997 - Amends Federal law to authorize the Postal Service to provide: (1) that amounts that would otherwise be deposited in the Postal Service Fund shall be directly deposited in a Federal Reserve bank or a selected depository for public funds; and (2) for transfers of such amounts between or among such banks, depositories, and the Fund. (Currently, the Postal Service must have the Secretary of the Treasury's approval to deposit Fund monies in such banks or depositories.) Removes the requirement for the Secretary's approval with respect to investment options for excess Fund monies. Authorizes investments of excess monies in obligations or securities if such investments are closely related to Postal Service operations. Revises provisions regarding the relationship between the Postal Service and the Secretary with respect to the sale of certain issues of obligations. Provides that such sales and issues shall not be subject to the Secretary's approval. Authorizes the Secretary (currently, the Postal Service may require the Secretary) to purchase Postal Service obligations upon request of the Postal Service. Exempts such obligations from certain maximum amount limitations if: (1) the total outstanding amount of exempt obligations does not exceed $2.5 billion at any one time; and (2) the Secretary and the Postal Service jointly determine that such exemption is necessary.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

  1. 20 October 1997

    Introduced

    Read twice and referred to the Committee on Governmental Affairs.

    Source: IntroReferral

  2. 20 October 1997

    Introduced

    Sponsor introductory remarks on measure. (CR S10860)

    Source: IntroReferral

  3. 20 October 1997

    Introduced

    Introduced in Senate

    Source: IntroReferral

Votes

No vote records are attached yet.

Versions

Documents

3 official files

Introduced in Senate (text)

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  • Introduced in Senate (text)

    Introduced in Senate · EN · 20 October 1997

    ViewDownloadOpen at official source

  • Introduced in Senate (PDF)

    Introduced in Senate · EN · 20 October 1997

    ViewDownloadOpen at official source

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  • Introduced in Senate

    summary · EN · 20 October 1997

    Open at official source

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Sponsors

Related records

Sources

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