A bill to facilitate the management of the public debt by increasing the ceiling on the investment yield on United States savings bonds to 8 1/2 percent and by increasing the amount of the bonds paying interest in excess of 4 1/4 percent which may be outstanding.
Amends the Second Liberty Bond Act to authorize the Secretary of the Treasury to increase the investment yield on U.S. savings bonds as long as the aggregate increases in a six month period do not exceed one percent per annum compounded semiannually (currently, there is a seven percent ceiling).
Increases the face amount of bonds with interest rates exceeding four and one-half percent which may be outstanding at any time from $50,000,000,000 to $54,000,000,000 (effective on enactment) and to $70,000,000,000 (effective October 1, 1980).
Reported to House from the Committee on Ways and Means with amendment, H. Rept. 96-1180.
Measure called up under motion to suspend rules and pass in House.
Measure considered in House.
Passed/agreed to in House: Measure passed House, amended.
Measure passed House, amended.
Referred to Senate Committee on Finance.
Reported to Senate from the Committee on Finance, S. Rept. 96-911.
Reported to Senate from the Committee on Finance, S. Rept. 96-911.
Call of calendar in Senate.
Measure considered in Senate.
Passed/agreed to in Senate: Measure passed Senate.
Measure passed Senate.
Measure enrolled in House.
Measure enrolled in Senate.
Measure presented to President.
Measure presented to President.
Signed by President.
Signed by President.
Public Law 96-377.
Public Law 96-377.
Enacted as Public Law 96-377
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