S. 1198 · 111th Congress
Auto Stock for Every Taxpayer Act
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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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AlexanderSponsor10 cosponsors · 10 R
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Bennett
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Cornyn
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Gregg
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Isakson
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Kyl
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McConnell
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Roberts
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Vitter
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Wicker
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Burr9 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Auto Stock for Every Taxpayer Act - Prohibits the Secretary of the Treasury from expending or obligating any more Troubled Asset Relief Program (TARP) funds for automobile manufacturers that have been participating in the program and have filed for bankruptcy protection.
What it does: CRS summary · Introduced in Senate · Jun 8, 2009
Auto Stock for Every Taxpayer Act - Prohibits the Secretary of the Treasury from expending or obligating any more Troubled Asset Relief Program (TARP) funds for automobile manufacturers that have been participating in the program and have filed for bankruptcy protection.
Imposes on the Secretary the fiduciary duty to maximize the return on the taxpayers' investment in such manufacturers under TARP.
Authorizes persons aggrieved by violations of such fiduciary duty to bring civil actions for equitable relief.
Requires the Secretary, after the emergence of such an automobile manufacturer from bankruptcy, to provide taxpayers with common stock certificates representing their shares in the aggregate common stock holdings of the federal government in such manufacturer.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Auto Stock for Every Taxpayer Act
Latest action (Jun 8, 2009): Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Policy area: Finance and Financial Sector · Origin: Senate · Introduced: Jun 8, 2009
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.