Text: H.R.6225 — 111th Congress (2009-2010)All Information (Except Text)

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Introduced in House (09/28/2010)


111th CONGRESS
2d Session
H. R. 6225


To amend the Emergency Economic Stabilization Act of 2008 to terminate authority under the Troubled Asset Relief Program.


IN THE HOUSE OF REPRESENTATIVES

September 28, 2010

Mr. Paulsen introduced the following bill; which was referred to the Committee on Financial Services


A BILL

To amend the Emergency Economic Stabilization Act of 2008 to terminate authority under the Troubled Asset Relief Program.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. Short title.

This Act may be cited as the “Permanent End to TARP Act”.

SEC. 2. Termination of TARP authority.

Section 120 of the Emergency Economic Stabilization Act of 2008 (12 U.S.C. 5230) is amended to read as follows:

“SEC. 120. Termination of authority.

“(a) In general.—The authorities provided under sections 101(a), excluding section 101(a)(3), and the authorities provided under section 102 shall terminate on October 3, 2010.

“(b) Treatment of unfunded commitments.—With respect to a commitment to purchase made by the Secretary under this title, including with respect to any housing assistance pursuant to section 109 or 110, the Secretary may not expend funds with respect to such commitment on or after October 3, 2010.”.


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