H.R. 1180 · 111th Congress
To amend the Emergency Economic Stabilization Act of 2008 to prohibit the Secretary of the Treasury from…
Full title
To amend the Emergency Economic Stabilization Act of 2008 to prohibit the Secretary of the Treasury from receiving common stock or certain other voting stock under the Troubled Asset Relief Program, and for other purposes.
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Never voted on. It didn't reach a floor vote before the 111th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
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NeugebauerSponsor23 cosponsors · 23 R
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Brown
RB
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Bishop
MB
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Bachmann
TF
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Franks
MF
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Fallin
JH
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Hensarling
MP
R
Pence
BP
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Posey
JS
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Shadegg
ZW
R
Wamp
MB
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Blackburn
DL
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Lamborn
DB
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Burton
KG
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Granger
SG
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Garrett
LG
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Gohmert
WJ
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Jones
JA
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Ann Emerson
SJ
R
Johnson
RW
R
Wittman
RL
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Latta
VF
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Foxx
JL
R
Linder0 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Amends the Emergency Economic Stabilization Act of 2008 (EESA) to prohibit the Secretary of the Treasury from: (1) making any purchase for which the Secretary receives control-diluting stock; or (2) converting into control-diluting stock any security received by the Secretary (other than a warrant).
What it does: CRS summary · Introduced in House · Feb 25, 2009
Amends the Emergency Economic Stabilization Act of 2008 (EESA) to prohibit the Secretary of the Treasury from: (1) making any purchase for which the Secretary receives control-diluting stock; or (2) converting into control-diluting stock any security received by the Secretary (other than a warrant).
Defines control-diluting stock as: (1) common stock of a financial institution; (2) any other voting stock of a financial institution other than voting stock whose voting power the Secretary agrees not to exercise; or (3) a warrant giving the Secretary the right to receive either of such stock.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: To amend the Emergency Economic Stabilization Act of 2008 to prohibit the Secretary of the Treasury from receiving common stock or certain other voting stock under the Troubled Asset Relief Program, and for other purposes.
Latest action (Feb 25, 2009): Referred to the House Committee on Financial Services.
Policy area: Finance and Financial Sector · Origin: House · Introduced: Feb 25, 2009
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.