S.116 - TARP Assistance for Local Governments Act of 2009

A bill to require the Secretary of the Treasury to allocate $10,000,000,000 of Troubled Asset Relief Program funds to local governments that have suffered significant losses due to highly-rated investments in failed financial institutions. view all titles (2)

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  • Official: A bill to require the Secretary of the Treasury to allocate $10,000,000,000 of Troubled Asset Relief Program funds to local governments that have suffered significant losses due to highly-rated investments in failed financial institutions. as introduced.
  • Short: TARP Assistance for Local Governments Act of 2009 as introduced.

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Introduced
 
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President
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01/05/09
 
 
 
 
 
 
 

Official Bill Text Comment on about 1 Pages

Sponsor

Senator

Dianne Feinstein

D-CA

No Co-Sponsors

Official Summary

1/6/2009--Introduced.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 instrum
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Official Summary

1/6/2009--Introduced.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.

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