H.R. 7119 · 110th Congress
To impose certain limits on the exercise by the Secretary of the Treasury of certain actions under any other…
Full title
To impose certain limits on the exercise by the Secretary of the Treasury of certain actions under any other Act which authorizes the Secretary to purchase troubled assets, and for other purposes.
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Never voted on. It didn't reach a floor vote before the 110th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
KirkSponsor6 cosponsors · 1 D, 5 R
4 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Prohibits the use of any funds made available under any Act authorizing the Secretary of the Treasury to purchase troubled assets to provide income for any senior officer of any company, entity, or partnership that receives credit or other direct assistance under such Act.
What it does: CRS summary · Introduced in House · Sep 26, 2008
Prohibits the use of any funds made available under any Act authorizing the Secretary of the Treasury to purchase troubled assets to provide income for any senior officer of any company, entity, or partnership that receives credit or other direct assistance under such Act.
Authorizes the Secretary to terminate the employment of any such senior officer who receives credit or direct assistance under any such Act.
Defines "senior officer" as any chairman of the board, chief executive officer, chief financial officer, managing partner, or any individual deemed by the Secretary as having primary management or financial authority over the company, entity, or partnership before the receipt of credit or direct assistance under any such Act.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: To impose certain limits on the exercise by the Secretary of the Treasury of certain actions under any other Act which authorizes the Secretary to purchase troubled assets, and for other purposes.
Latest action (Sep 27, 2008): Sponsor introductory remarks on measure. (CR E2083)
Policy area: Finance and Financial Sector · Origin: House · Introduced: Sep 26, 2008
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.