119-HR4789
FAIR Act
Last action was on 7-29-2025
SenateCurrent status is Referred to the House Committee on Financial Services.
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119th CONGRESS
1st Session
H. R. 4789
1. Short title2. Earnings on balances1. Short title
This Act may be cited as the "Fiscal Accountability for Interest on Reserves Act" or the "FAIR Act".
2. Earnings on balances
(a) In general - Section 19(b) of the Federal Reserve Act (12 U.S.C. 461(b)) is amended by striking paragraph (12).
(b) Effective date - The amendment made by subsection (a) shall take effect on the date that is 180 days after the date of enactment of this Act.