L:\XML\CPRT-114-HPRT-RU00-HR4885.XML XML mchinn 4/14/2016 9:18 mchinn 04/14/2016 09:17 L:\vr\041416\R041416.005.xml 04/14/2016 09:19:03 mchinn [Discussion Draft] [Discussion Draft] April 14, 2016 114th CONGRESS 2d Session Rules Committee Print 114-50 Text of H.R. 4885, IRS Oversight While Eliminating Spending (OWES) Act of 2016 [Showing the text of the bill as ordered reported by the Committee on Ways and Means.]

1.

Short title

This Act may be cited as the IRS Oversight While Eliminating Spending (OWES) Act of 2016.

2.

Deposit of IRS user fees into general fund of the Treasury

(a)

In general

The second sentence of section 3 of title I of Public Law 103–329 (26 U.S.C. 7801 note), under the heading administrative provisions-internal revenue service, is amended by striking The Secretary of the Treasury may spend and all that follows through and thereafter: and inserting the following: Any fees collected pursuant to this section shall be deposited in the general fund of the Treasury and shall not be expended by the Internal Revenue Service unless provided by an appropriations Act:. (b)

Conforming amendment

The last proviso of such section is amended by striking and how they are being expended by the Service. (c)

Effective date

The amendments made by this section shall apply to fees collected after the date of the enactment of this Act.