PUBLIC LAW 104-8—APR. 17, 1995
109 STAT. 97
Public Law 104^8
104th Congress
An Act
To eliminate budget deficits and management inefficiencies in the government of
the District of Columbia through the establishment of the District of Columbia Apr. 17, 1995
Financial Responsibility and Management Assistance Authority, and for other
[HR 1345]
purposes.
Be it enacted by the Senate and House of Representatives of
the United States of America in Congress assembled.
District of
Columbia
SECTION 1. SHORT TITLE; TABLE OF CONTENTS.
Financial
(a) SHORT TITLE. —Th is Act may be cited as the "District of ^dCSent
Columbia Financial Responsibility and Management Assistance Act Assistance Act of
of 1995".
1995.
(b) TABLE OF CONTENTS. — The table of contents of this Act
is as follows:
Sec. 1. Short title; table of contents.
Sec. 2. Findings; purpose.
TITLE I—ESTABLISHMENT AND ORGANIZATION OF AUTHORITY
Sec. 101. District of Coliunbia Financial Responsibility and Management Assistance Authority.
Sec. 102. Executive director and staff of Authority.
Sec. 103. Powers of Authority.
Sec. 104. Exemption from liability for claims.
Sec. 105. Treatment of actions arising from act.
Sec. 106. Funding for operation of Authority.
Sec. 107. Suspension of activities.
Sec. 108. Application of laws of District of Columbia to Authority.
TITLE II—RESPONSIBILITIES OF AUTHORITY
Subtitle A—Establishment and Enforcement of Financial Plan and Budget
for District Government
Sec. 201. Development of financial plan and budget for District of Columbia.
Sec. 202. Process for submission and approval of financial plan and annual District
budget.
Sec. 203. Review of activities of District government to ensxu"e compliance with approved financial plan and budget.
Sec. 204. Restrictions on borrowing by District during control year.
"Sec. 601. Transitional provision for short-term advances.
"Sec. 602. Short-term advances for seasonal cash-flow management.
"Sec. 603. Security for advances.
"Sec. 604. Reimbursement to the Treasury.
"Sec. 605. Definitions.
Sec. 205. Deposit of annual Federal payment with Authority.
Sec. 206. Effect of finding of non-compliance with financial plan and budget.
Sec. 207. Recommendations on financial stability and management responsibility.
Sec. 208. Special rules for fiscal year 1996.
Sec. 209. Control periods described.
Subtitle B—Issuance of Bonds
Sec. 211. Authority to issue bonds.
Sec. 212. Pledge of security interest in revenues of District government
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