U.S. Congress - Text of S.383 as Enrolled Bill Special Inspector General for the Troubled Asset Relief Program Act of 2009
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Donate NowS.383 - Special Inspector General for the Troubled Asset Relief Program Act of 2009
A bill to amend the Emergency Economic Stabilization Act of 2008 (division A of Public Law 110-343) to provide the Special Inspector General with additional authorities and responsibilities, and for other purposes.
| Version | Word Count | Changes From Previous Version | Percent Change |
|---|---|---|---|
| Considered and Passed Senate | 1,387 | n/a | n/a |
| Engrossed in Senate | 1,365 | 3 | 10% |
| Referred in House | 1,371 | 5 | 8% |
| Reported in House | 1,522 | 10 | 15% |
| Enrolled Bill | 1,317 | 10 Show Changes Hide Changes | 17% |
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S 383 RH Union Calendar No. 12 111th CONGRESS 1st Session S. 383 [Report No. 111-41, Part I]
One Hundred Eleventh CongressCommentsClose CommentsPermalink
of theCommentsClose CommentsPermalink
United States of AmericaCommentsClose CommentsPermalink
AT THE HOUSE OF REPRESENTATIVES February 9, 2009 Referred to the Committee on Financial Services, and in addition to the Committee on Oversight and Government Reform, 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 March 19, 2009 Reported from the Committee on Financial Services March 19, 2009 Committee on Oversight and Government Reform discharged; committed to the Committee of the Whole House on the State of the Union and ordered to be printed A BILL
Begun and held at the City of Washington on Tuesday,CommentsClose CommentsPermalink
the sixth day of January, two thousand and nineCommentsClose CommentsPermalink
An ActCommentsClose CommentsPermalink
To amend the Emergency Economic Stabilization Act of 2008 (division A of
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, CommentsClose CommentsPermalink
SECTION 1. SHORT TITLE.CommentsClose CommentsPermalink
SECTION 1. SHORT TITLE.CommentsClose CommentsPermalink
This Act may be cited as the ‘Special Inspector General for the Troubled Asset Relief Program Act of 2009’.CommentsClose CommentsPermalink
SEC. 2. AUDIT AND INVESTIGATION AUTHORITIES.CommentsClose CommentsPermalink
Section 121 of the Emergency Economic Stabilization Act of 2008 (division A of
(1) in subsection (c), by adding at the end the following:CommentsClose CommentsPermalink
‘(4)(A) Except as provided under subparagraph (B) and in addition to the duties specified in paragraphs (1), (2), and (3), the Special Inspector General shall have the authority to conduct, supervise, and coordinate an audit or investigation of any action taken under this title as the Special Inspector General determines appropriate.CommentsClose CommentsPermalink
‘(B) Subparagraph (A) shall not apply to any action taken under section 115, 116, 117, or 125.’; andCommentsClose CommentsPermalink
(2) in subsection (d)--CommentsClose CommentsPermalink
(A) in paragraph (2), by striking ‘subsection (c)(1)’ and inserting ‘subsection (c)(1) and (4)’; andCommentsClose CommentsPermalink
(B) by adding at the end the following:CommentsClose CommentsPermalink
‘(3) The Office of the Special Inspector General for the Troubled Asset Relief Program shall be treated as an office included under section 6(e)(3) of the Inspector General Act of 1978 (5 U.S.C. App.) relating to the exemption from the initial determination of eligibility by the Attorney General.’.CommentsClose CommentsPermalink
SEC. 3. PERSONNEL AUTHORITIES.CommentsClose CommentsPermalink
Section 121(e) of the Emergency Economic Stabilization Act of 2008 (division A of
(1) in paragraph (1)--CommentsClose CommentsPermalink
(A) by inserting ‘(A)’ after ‘(1)’; andCommentsClose CommentsPermalink
(B) by adding at the end the following:CommentsClose CommentsPermalink
‘(B)(i) Subject to clause (ii), the Special Inspector General may exercise the authorities of subsections (b) through (i) of
(without regard to subsection (a) of that section).CommentsClose CommentsPermalink section 3161 of title 5, United States Code ‘(ii) In exercising the employment authorities under subsection (b) of
, as provided under clause (i) of this subparagraph--CommentsClose CommentsPermalink section 3161 of title 5, United States Code
‘(I) the Special Inspector General may not make any appointment on and after the date occurring 6 months after the date of enactment of the Special Inspector General for the Troubled Asset Relief Program Act of 2009;CommentsClose CommentsPermalink
‘(II) paragraph (2) of that subsection (relating to periods of appointments) shall not apply; andCommentsClose CommentsPermalink
‘(III) no period of appointment may exceed the date on which the Office of the Special Inspector General terminates under subsection (k).’; andCommentsClose CommentsPermalink
(2) by adding at the end the following:CommentsClose CommentsPermalink
‘(5)(A) Except as provided under subparagraph (B), if an annuitant receiving an annuity from the Civil Service Retirement and Disability Fund becomes employed in a position within the Office of the Special Inspector General for the Troubled Asset Relief Program, his annuity shall continue. An annuitant so reemployed shall not be considered an employee for purposes of chapter 83 or 84.CommentsClose CommentsPermalink
‘(B) Subparagraph (A) shall apply to--CommentsClose CommentsPermalink
‘(i) not more than 25 employees at any time as designated by the Special Inspector General; andCommentsClose CommentsPermalink
‘(ii) pay periods beginning after the date of enactment of the Special Inspector General for the Troubled Asset Relief Program Act of 2009.’.CommentsClose CommentsPermalink
SEC. 4. RESPONSE TO AUDITS AND COOPERATION AND COORDINATION WITH OTHER ENTITIES.CommentsClose CommentsPermalink
Section 121 of the Emergency Economic Stabilization Act of 2008 (division A of
(1) by redesignating subsections (f), (g), and (h) as subsections (i), (j), and (k), respectively; andCommentsClose CommentsPermalink
(2) by inserting after subsection (e) the following:CommentsClose CommentsPermalink
‘(f) Corrective Responses to Audit Problems- The Secretary shall--CommentsClose CommentsPermalink
‘(1) take action to address deficiencies identified by a report or investigation of the Special Inspector General or other auditor engaged by the TARP; orCommentsClose CommentsPermalink
‘(2) certify to appropriate committees of Congress that no action is necessary or appropriate.CommentsClose CommentsPermalink
‘(g) Cooperation and Coordination With Other Entities- In carrying out the duties, responsibilities, and authorities of the Special Inspector General under this section, the Special Inspector General shall work with each of the following entities, with a view toward avoiding duplication of effort and ensuring comprehensive oversight of the Troubled Asset Relief Program through effective cooperation and coordination:CommentsClose CommentsPermalink
‘(1) The Inspector General of the Department of Treasury.CommentsClose CommentsPermalink
‘(2) The Inspector General of the Federal Deposit Insurance Corporation.CommentsClose CommentsPermalink
‘(3) The Inspector General of the Securities and Exchange Commission.CommentsClose CommentsPermalink
‘(4) The Inspector General of the Federal Reserve Board.CommentsClose CommentsPermalink
‘(5) The Inspector General of the Federal Housing Finance Board.CommentsClose CommentsPermalink
‘(6) The Inspector General of any other entity as appropriate.CommentsClose CommentsPermalink
‘(h) Council of the Inspectors General on Integrity and Efficiency- The Special Inspector General shall be a member of the Council of the Inspectors General on Integrity and Efficiency established under section 11 of the Inspector General Act of 1978 (5 U.S.C. App.) until the date of termination of the Office of the Special Inspector General for the Troubled Asset Relief Program.’.CommentsClose CommentsPermalink
SEC. 5. REPORTING REQUIREMENTS.CommentsClose CommentsPermalink
Section 121(i) of the Emergency Economic Stabilization Act of 2008 (division A of
(1) in paragraph (1), by striking the first sentence and inserting ‘Not later than 60 days after the confirmation of the Special Inspector General, and not later than 30 days following the end of each fiscal quarter, the Special Inspector General shall submit to the appropriate committees of Congress a report summarizing the activities of the Special Inspector General during that fiscal quarter.’;CommentsClose CommentsPermalink
(2) by redesignating paragraphs (2) and (3) as paragraphs (3) and (4), respectively;CommentsClose CommentsPermalink
(3) by inserting after paragraph (1) the following:CommentsClose CommentsPermalink
‘(2) Not later than September 1, 2009, the Special Inspector General shall submit a report to Congress assessing use of any funds, to the extent practical, received by a financial institution under the TARP and make the report available to the public, including posting the report on the home page of the website of the Special Inspector General within 24 hours after the submission of the report.’; andCommentsClose CommentsPermalink
(4) by adding at the end the following:CommentsClose CommentsPermalink
‘(5) Except as provided under paragraph (3), all reports submitted under this subsection shall be available to the public.’.CommentsClose CommentsPermalink
SEC. 6. FUNDING OF THE OFFICE OF THE SPECIAL INSPECTOR GENERAL.CommentsClose CommentsPermalink
Section 121(j)(1) of the Emergency Economic Stabilization Act of 2008 (division A of
SEC. 7. COUNCIL OF THE INSPECTORS GENERAL ON INTEGRITY AND EFFICIENCY.CommentsClose CommentsPermalink
The Special Inspector General for Iraq Reconstruction and the Special Inspector General for Afghanistan Reconstruction shall be a members of the Council of the Inspectors General on Integrity and Efficiency established under section 11 of the Inspector General Act of 1978 (5 U.S.C. App.) until the date of termination of the Office of the Special Inspector General for Iraq Reconstruction and the Office of the Special Inspector General for Afghanistan Reconstruction, respectively.CommentsClose CommentsPermalink
Union Calendar No. 12 111th CONGRESS 1st Session S. 383 [Report No. 111-41, Part I] A BILL To amend the Emergency Economic Stabilization Act of 2008 (division A of March 19, 2009 Reported from the Committee on Financial Services March 19, 2009 Committee on Oversight and Government Reform discharged; committed to the Committee of the Whole House on the State of the Union and ordered to be printed
Vice President of the United States andCommentsClose CommentsPermalink
President of the Senate.CommentsClose CommentsPermalink
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