Summary: H.R.6570 — 112th Congress (2011-2012)All Information (Except Text)

Bill summaries are authored by CRS.

Shown Here:
Public Law No: 112-204 (12/04/2012)

(This measure has not been amended since it was introduced. The summary of that version is repeated here.)

Amends the Jobs Accountability Act, in title XV of division A of the American Recovery and Reinvestment Act of 2009, to revise the deadline for comments by the Congressional Budget Office (CBO) and the Government Accountability Office (GAO) on information contained in specified quarterly reports to the appropriate agency by each recipient of federal recovery funds with respect to an estimate of the number of jobs created and retained by the expenditure or obligation of such funds on a project or activity.

Requires these comments on the quarterly reports in a year to be due 45 days after the report for the last quarter of the year is submitted. (Currently, such reports are due within 45 days after submission to the appropriate agency.)

Terminates the requirement of the CBO and GAO comments on January 1, 2016.

Amends the Emergency Economic Stabilization Act of 2008 to change from semiannual to annual the required reports to the President and Congress from the Office of Management and Budget (OMB) of specified information and estimates regarding the Troubled Asset Relief Program (TARP).

Terminates these TARP reporting requirements with the annual period on the last day of which all troubled assets acquired by the Secretary of the Treasury have been sold or transferred out of the ownership or control of the federal government.