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Referenced Laws
12 U.S.C. 461(b)
Section 1
1. Short title This Act may be cited as the Fiscal Accountability for Interest on Reserves Act or the FAIR Act.
Section 2
2. Earnings on balances Section 19(b) of the Federal Reserve Act (12 U.S.C. 461(b)) is amended by striking paragraph (12). The amendment made by subsection (a) shall take effect on the date that is 180 days after the date of enactment of this Act.