To require the Secretary of the Treasury to retain indefinitely records (including images) of redeemed savings bonds.

Requires the Secretary of the Treasury to retain the records of each redeemed savings bond, including its front and back image, indefinitely. Allows such information to be stored electronically.

[Congressional Bills 109th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3048 Introduced in House (IH)]






109th CONGRESS
  1st Session
                                H. R. 3048

To require the Secretary of the Treasury to retain indefinitely records 
             (including images) of redeemed savings bonds.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             June 23, 2005

  Mr. Frank of Massachusetts introduced the following bill; which was 
              referred to the Committee on Ways and Means

_______________________________________________________________________

                                 A BILL


 
To require the Secretary of the Treasury to retain indefinitely records 
             (including images) of redeemed savings bonds.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. RETENTION OF RECORDS (INCLUDING IMAGES) OF REDEEMED SAVINGS 
              BONDS.

    (a) In General.--Subchapter II of chapter 31 of title 31, United 
States Code, is amended by adding at the end the following new section:
``Sec. 3131. Retention of records of redeemed bonds
    ``The Secretary of the Treasury shall retain the records of each 
bond redeemed under this chapter, including the image of the front and 
back of each such bond, indefinitely. This information may be stored 
electronically.''.
    (b) Clerical Amendment.--The analysis for subchapter II of chapter 
31 of title 31 of such Code is amended by adding at the end the 
following new item:

``Sec. 3131. Retention of records of redeemed bonds.''.
    (c)  Effective Date.--The amendments made by this section shall 
apply with respect to any obligation redeemed under chapter 31, United 
States Code, the image of which has not been destroyed as of the date 
of the enactment of this Act.
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