United States 113th Congress Status: Died 1 D cosponsors

HR 130 — Democratizing the Federal Reserve System Act of 2013

Last action — Referred to the House Committee on Financial Services.

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  1. ✓
    Introduced
  2. ✓
    In Committee
  3. Died in session

This bill died with 113th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Summary

Democratizing the Federal Reserve System Act of 2013 - Amends the Federal Reserve Act to reduce from 14 years to 7 years the term of office of the members of the Board of Governors of the Federal Reserve System. Increases from two years to four years the post-service restriction which renders Board members ineligible to hold any office, position, or employment in any member bank. Revises the terms for ongoing service on the Board with respect to its Chairman and Vice Chairman. Requires the Speaker and the minority leader of the House of Representatives, the majority leader and minority leader of the Senate, and specified committee chairpersons and ranking members to create jointly a list of five candidates in rank order to present to the President for consideration for a Board vacancy if the President has not made a nomination to fill it within a specified time period. Requires the President, no later than 30 days after the transmittal of such list, to nominate a person to fill the vacancy, whether from such list or another person. Increases the membership of the Federal Open Market Committee from five to six members. Revises the distribution of Federal Open Market Committee membership.

Bill Text

We don't have the full text on file for this bill yet.

Read HR 130 on the official United States source →

Action History

  1. Referred to the House Committee on Financial Services.

Sponsors

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 546 not signed on

Sponsors (1)

Co-sponsors (0)

None.

Not signed on (546)

546 members have not signed on to this bill.

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"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

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Subjects

finance technology
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Frequently asked questions

What does HR 130 do?
Democratizing the Federal Reserve System Act of 2013 - Amends the Federal Reserve Act to reduce from 14 years to 7 years the term of office of the members of the Board of Governors of the Federal Reserve System. Increases from two years to four years the post-service restriction which renders Board members ineligible to hold any office, position, or employment in any member bank. Revises the terms for ongoing service on the Board with respect to its Chairman and Vice Chairman. Requires the Speaker and the minority leader of the House of Representatives, the majority leader and minority leader of the Senate, and specified committee chairpersons and ranking members to create jointly a list of five candidates in rank order to present to the President for consideration for a Board vacancy if the President has not made a nomination to fill it within a specified time period. Requires the President, no later than 30 days after the transmittal of such list, to nominate a person to fill the vacancy, whether from such list or another person. Increases the membership of the Federal Open Market Committee from five to six members. Revises the distribution of Federal Open Market Committee membership.
Who sponsors HR 130?
HR 130 is sponsored by Marcy Kaptur (D).
What is the current status of HR 130?
This bill died with 113th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track HR 130?
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Last checked for changes about 13 hours ago · updated continuously

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