This bill aims to restrict federal financial support to state and local governments. Specifically, it prohibits the United States Government, including the Federal Reserve System and independent agencies, from providing any loan, grant, or other form of financial assistance to such entities. The prohibition is triggered if a state or local government enacts a law establishing a program that provides reparations for slavery , or for race, ethnicity, national origin, or historical practices related thereto . This restriction applies only to the specific governmental unit that enacts the reparations program, and the term "State" encompasses various U.S. territories and possessions in addition to the 50 states and the District of Columbia.