Business, Legal & Accounting Glossary

Definition: Bill


Quick Summary of Bill

A statute in draft before it becomes law

What is the dictionary definition of Bill?

Dictionary Definition

  1. what is commonly called a “check” by which the signer requires the bank to pay a third party a sum of money. This is a holdover from the days when a person would draw up a “bill of exchange.”
  2. a statement of what is owed.
  3. any paper money.
  4. a legislative proposal for enactment of a law. It is called a bill until it is passed and signed, at which time it is a law (statute) and is no longer referred to as a bill.
  5. an old-fashioned term for various filed documents in lawsuits or criminal prosecutions, which is falling into disuse.

Full Definition of Bill

  1. A negotiable debt obligation issued by the U.S. government and backed by its full faith and credit, having a maturity of one year or less. Exempt from state and local taxes. also called T-Bill or U.S. Treasury Bill or Treasury Bill.
  2. Paper currency.
  3. An invoice of charges for products and services.

In Law, a Bill is a proposed new piece of legislation that will, if it is accepted by Parliament, become a Statute (see: Legislative process). Most Bills are introduced by Government ministers, and these occupy the largest proportion of Parliamentary time. However, sometimes a Private bill or a Private member’s bill can succeed and become law. Government Bills are usually introduced into Parliament in the form that the Government wishes to see enacted; they are therefore carefully drafted, usually after a period of consultation (see: Formulation of bills).

Synonyms For Bill

U.S. Treasury Bill
Treasury Bill.

Cite Term

To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.

Page URL
Modern Language Association (MLA):
Bill. Payroll & Accounting Heaven Ltd.
November 29, 2023
Chicago Manual of Style (CMS):
Bill. Payroll & Accounting Heaven Ltd. (accessed: November 29, 2023).
American Psychological Association (APA):
Bill. Retrieved November 29, 2023
, from website:

Definition Sources

Definitions for Bill are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 21st November, 2021 | 0 Views.