To amend the Federal Reserve Act to establish a permanent Bank Term Funding Program to provide member banks and other depository institutions with short-term liquidity against long-term assets.

Cost and committee reports

Official records Congress.gov attaches to H.R. 3242.

• Constitutional authority statementThe sponsor’s statement of where the Constitution gives Congress the power to pass this bill. Statement by Mr. LUETKEMEYER, as printed in the Congressional Record (Vol. 169, No. 80, May 11, 2023, Page H2312):
  Article 1; Section 8: To make all Laws Which shall be necessary and proper for carrying into Execution the foregoing Powers, and all other Powers vested by this Constitution in the Government of the United States, or in any Department or Officer thereof. The single subject of this legislation is: To amend the Federal Reserve Act to establish a permanent Bank Term Funding Program to provide member banks and other depository institutions with short-term liquidity against long-term assets.
  Source: Congress.gov, Congressional Record May 11, 2023 ↗

  Evidence

  Field in the Congress.gov record

  constitutionalAuthorityStatementText

  Statement length

  491 characters

  Congress.gov bill record

  H.R. 3242, 118th Congress

  Congress.gov API record

  https://api.congress.gov/v3/bill/118/hr/3242

  Record last updated by Congress.gov

  July 24, 2024

  PORKER copy retrieved

  September 14, 2026

  Stored copy, SHA-256 of the file

  1268dd90c9ff42d2fd69b847b01fb716d1e6df5effc98ec73a7113b23c39f3f6

  PORKER shows the statement exactly as printed, with the page markup removed. It is the sponsor’s claim; it is not a legal finding.

Congress.gov’s record for this bill does not list a CBO cost estimate or a committee report (as of July 24, 2024). Not every bill gets one.

From the Congress.gov bill record for H.R. 3242, last updated July 24, 2024. PORKER’s copy was retrieved September 14, 2026 and is refreshed nightly. Open “Evidence” on any line for the record, field and file fingerprint.