H.R.3232 - PROFIT Act of 2009111th Congress (2009-2010)
|Sponsor:||Rep. Kilroy, Mary Jo [D-OH-15] (Introduced 07/16/2009)|
|Committees:||House - Financial Services|
|Latest Action:||07/16/2009 Referred to the House Committee on Financial Services. (All Actions)|
This bill has the status Introduced
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Summary: H.R.3232 — 111th Congress (2009-2010)All Bill Information (Except Text)
Introduced in House (07/16/2009)
Provide a Return on Financial Investment for the Taxpayer Act of 2009 or the PROFIT Act of 2009 - Amends the Emergency Economic Stabilization Act of 2008 (EESA) to require the Secretary of the Treasury to sell through a public auction any warrants associated with EESA assistance each time a financial institution makes a repayment of such assistance.
Exempts from such requirement warrants associated with a repayment made by a financial institution that has received less than $250 million of such assistance.