s 27 58335 1244692800 false 1244692800 1242 1988 111 400546

6/11/2009--Introduced.Government Ownership Exit Plan Act of 2009 - Prohibits the federal government from acquiring, directly or indirectly, any ownership interest in a troubled asset described in the Emergency Economic Stabilization Act of 2008 (EESA) that was purchased from a financial institution by the Secretary of the Treasury. Requires the Secretary to divest the government of any such interest not later than July 1, 2010, with exceptions allowing ownership interests of not more than six months if: (1) divestiture would have a significant adverse impact on taxpayers; and (2) there is a reasonable expectation that a waiver would allow recovery of the cost of acquiring such interest. Amends EESA to state that the limit of authority to purchase troubled assets is $700 billion (under current law, such limitation, reduced by $1.259 billion, is described as "outstanding at any one time"). Requires all repayments of obligations arising under EESA, and all proceeds from the sale of assets acquired by the government under that Act, to be paid into the general fund of the Treasury for reduction of the public debt. Makes it unlawful for an officer or employee of the executive branch to knowingly make, with the intent to influence, a communication regarding a significant management decision of a recipient of EESA assistance to any officer or employee of the recipient. Makes the Financial Stability Oversight Board responsible for reviewing the ownership interest termination provisions of this Act. Establishes requirements for reports by the Secretary on: (1) ownership interests; (2) plans for compliance with this Act, including for winding down and divestiture; and (3) ending conservatorship and direct ownership by the government of the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation (Fannie Mae and Freddie Mac, respectively).

1244692800 2009-06-11 Wed Jan 06 08:25:21 -0600 2010 introduced 58335 'act':5 '2009':7 'exit':3 'plan':4 'govern':1 'ownership':2 74593 false short introduced 58335 'bill':2 'hold':9 'feder':6 'govern':7 'purpos':15 'interest':11 'prohibit':4 'ownership':10 74458 false official action 58335 1244692800 Thu Jun 11 00:00:00 -0500 2009 198794 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. T000250 1961-01-07 7698 493 Russell Senate Office Building http://thune.senate.gov/public/index.cfm?FuseAction=Contact.Email 202-228-5429 John 'r':4 'sd':5 'sen':1 'john':2,6,8 'thune':3,7,9 M 400546 Thune John_Thune Sen. John Thune [R, SD] 3417 N00004572 10162 Republican 202-224-2321 SD John Thune 6.0 http://thune.senate.gov/public/ JohnThune action 58335 1244692800 Thu Jun 11 00:00:00 -0500 2009 198794 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. action 58335 1244692800 Thu Jun 11 00:00:00 -0500 2009 198793 Sponsor introductory remarks on measure. (CR S6533-6534, S6549-6550) introduced 58335 1244692800 Thu Jun 11 00:00:00 -0500 2009 198792