To authorize the issuance of drug war bonds and to require that the proceeds of those bonds be used to fund the Anti-Drug Abuse Act of 1988.
Drug War Bond Act of 1989 - Directs the Secretary of the Treasury to issue Drug War Bonds with a 20-year maturity date, including bonds with a maximum denomination $25 maturity value to encourage children and other small investors to purchase them. Authorizes the Secretary to fix an investment yield for such small bonds that is lower than the yield on other Drug War Bond denominations.
Directs the Secretary to issue stamps evidencing payment of Drug War Bond purchases.
Establishes within the Treasury the Anti-Drug Abuse Trust Fund containing amounts equivalent to bond proceeds. Directs the Secretary to be the trustee of such Fund and to report annually to the Congress regarding its financial status. Directs the Secretary to notify the public that drug war bond purchases will assist anti-drug abuse law enforcement.
Introduced in House
Introduced in House
Referred to the House Committee on Ways and Means.
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