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HR 4357 IH
111th CONGRESS
1st Session
H. R. 4357
To use amounts repaid to the Treasury under the Troubled Assets Relief Program for relief to displaced and low-wage workers, and for other purposes.
IN THE HOUSE OF REPRESENTATIVES
December 16, 2009
Mr. BACA (for himself and Mr. GENE GREEN of Texas) introduced the following bill; which was referred to the Committee on Financial Services, and in addition to the Committees on Education and Labor and Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned
A BILL
To use amounts repaid to the Treasury under the Troubled Assets Relief Program for relief to displaced and low-wage workers, 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. SHORT TITLE.
This Act may be cited as the ‘Federal Bailout for American Individuals and Families in Distress Today and Tomorrow Act of 2009’.
SEC. 2. TRANSFER OF REPAID TARP FUNDS TO FEDERAL EMPLOYMENT PROGRAMS.
(a) Transfer of Funds- Of funds that were made available under title I of the Emergency Economic Stabilization Act of 2008 (12 U.S.C. 5211 et seq.) that have been repaid to the Treasury by a financial institution, the Secretary of the Treasury shall--
(1) make available to the Secretary of Labor $8,000,000,000 which shall be available for obligation on the date of enactment of this Act, as follows:
(A) for activities under the Workforce Investment Act of 1998--
(i) $2,000,000,000 for grants to the States for adult employment and training activities, including supportive services and needs-related payments described in section 134(e)(2) and (3) of such Act (29 U.S.C. 2864(e)(2) and (3)); and
(ii) $2,000,000,000 for Migrant and Seasonal Farmworker Programs under section 167 of such Act (29 U.S.C. 2912); and
(B) $4,000,000,000 for benefits and services under the Trade Adjustment Assistance for Workers program authorized in chapter II of title II of the Trade Act of 1974 (19 U.S.C. 2271 et seq.); and
(2) make available to the Secretary of Health and Human Services $2,000,000,000 which shall be available for obligation on the date of enactment of this Act for deposit into the Emergency Contingency Fund for State Temporary Assistance for Needy Families Programs established under section 403(c) of the Social Security Act (42 U.S.C. 603(c)).
(b) Authorization- The transfers authorized under subsection (a) shall be deemed actions authorized under title I of the Emergency Economic Stabilization Act of 2008 (12 U.S.C. 5201 et seq.).
U.S. Congress - Text of H.R.4357 as Introduced in House Federal Bailout for American Individuals and Families in Distress Today and Tomorrow Ac...
