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HR 2063 IH
111th CONGRESS
1st Session
H. R. 2063
To amend the Emergency Economic Stabilization Act of 2008 to use repaid Troubled Asset Relief Program funds to pay down the public debt, and for other purposes.
IN THE HOUSE OF REPRESENTATIVES
April 23, 2009
Mr. WILSON of South Carolina 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 use repaid Troubled Asset Relief Program funds to pay down the public debt, and for other purposes.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. PUBLIC DEBT REDUCTION.
(a) In General- Title I of the Emergency Economic Stabilization Act of 2008 (12 U.S.C. 5201 et seq.) is amended by adding at the end the following new section:
‘SEC. 137. PUBLIC DEBT REDUCTION.
‘(a) In General- Each time a financial institution makes a repayment of assistance provided under this title, the Secretary shall transfer such repayment to the special account established by section 3113(d) of title 31, United States Code.
‘(b) TARP Authorization Reduction- Each time a financial institution makes a repayment of assistance provided under this title, the authorization to purchase authority under section 115 shall be reduced by a corresponding dollar amount.’.
(b) Conforming Amendment- The table of contents for such Act is amended by inserting after the item relating to section 136 the following new item:
U.S. Congress - Text of H.R.2063 as Introduced in House To amend the Emergency Economic Stabilization Act of 2008 to use repaid Troubled Asset ...
