H.R. 4118 · 111th Congress
Taxpayer Investment Protection Act of 2009
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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.
R
KirkSponsor1 cosponsor · 1 R
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Taxpayer Investment Protection Act of 2009 - Directs the Secretary of the Treasury to divest, by December 31, 2010, the federal ownership interest in certain troubled assets purchased by the Secretary under the Troubled Asset Relief Program (TARP) under the Emergency Economic Stabilization Act of 2008 (EESA).
What it does: CRS summary · Introduced in House · Nov 19, 2009
Taxpayer Investment Protection Act of 2009 - Directs the Secretary of the Treasury to divest, by December 31, 2010, the federal ownership interest in certain troubled assets purchased by the Secretary under the Troubled Asset Relief Program (TARP) under the Emergency Economic Stabilization Act of 2008 (EESA).
Requires all repayments of obligations arising under EESA, and all proceeds from the sale of assets acquired by the federal government under EESA, to be paid into the general fund of the Treasury for reduction of the public debt.
Instructs the Secretary to report periodically to Congress on plans for compliance with this Act, providing detail on equity divestiture plans and return of capital for the following corporate investments: (1) Bank of America; (2) Chrysler; (3) General Motors; (4) Citigroup; (5) American International Group, Inc. (AIG); (6) Hartford Financial Services; (7) Lincoln National Corporation; and (8) GMAC (formerly General Motors Acceptance Corporation).
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Taxpayer Investment Protection Act of 2009
Latest action (Nov 19, 2009): Referred to the House Committee on Financial Services.
Policy area: Finance and Financial Sector · Origin: House · Introduced: Nov 19, 2009
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.