S.116 - TARP Assistance for Local Governments Act of 2009111th Congress (2009-2010)
|Sponsor:||Sen. Feinstein, Dianne [D-CA] (Introduced 01/06/2009)|
|Committees:||Senate - Banking, Housing, and Urban Affairs|
|Latest Action:||Senate - 01/06/2009 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (All Actions)|
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Summary: S.116 — 111th Congress (2009-2010)All Information (Except Text)
Introduced in Senate (01/06/2009)
TARP Assistance for Local Governments Act of 2009 - Amends the Emergency Economic Stabilization Act of 2008 (EESA) to instruct the Secretary of the Treasury to use $10 billion of funds made available for the TARP (Troubled Asset Relief Program) to assist public instrumentalities, such as counties and cities, that have suffered significant increased costs or losses due to investments with failed financial institutions.
Restricts such assistance to public instrumentalities that have suffered due to investments that were highly rated in any failed financial institution, whether or not the financial institution is assisted under such Act.