1. Short title
This Act may be cited as the “Victory Bonds Act of 2020”.
Victory Bonds Act of 2020
A BILL
To authorize the issuance of United States Victory Bonds to aid in the funding of public health operations and small business assistance during the coronavirus pandemic, and for other purposes.
2. Purpose
The purpose of this Act is to authorize the issuance of United States Victory Bonds to aid in the funding of public health operations and small business assistance during the coronavirus pandemic.
3. Authorization for the issuance of United States Victory Bonds
In general— Section 3102 of title 31, United States Code, is amended by adding at the end the following:
“(f) Issuance of United States Victory Bonds
“(1) In general—The Secretary is authorized to issue bonds under this section, to be known as “United States Victory Bonds”, to aid in the funding of public health operations and small business assistance during the coronavirus pandemic.
“(2) Form—The bonds authorized by paragraph (1) shall be in such form and denominations, and shall be subject to such terms and conditions of issue, conversion, redemption, maturation, payment, and rate of interest as the Secretary may prescribe. Such terms and conditions shall ensure that the people of the United States have as nearly as possible an equal opportunity to participate in subscribing to the offered bonds, including by purchase from personal residences and in accessible denominations.”
Availability of funds— Amounts received into the Treasury from the sale of United States Victory Bonds under section 3102(f) of title 31, United States Code, shall be available without further appropriation for—
the public health response to the coronavirus, including testing, treatment, tracing, and vaccine development;
small business assistance for businesses impacted by the coronavirus; and
following the conclusion of the pandemic, for future pandemic response preparations.