3.0.0 7305 2021-06-07T20:07:24Z 2021-06-07T20:07:24Z House H HR 2008-11-20 110 hswm00 Ways and Means Committee House Standing Referred to 2008-11-20T15:01:10Z hsba00 Financial Services Committee House Standing Referred to 2008-11-20T15:01:05Z 2008-11-20 Referred to the Committee on Financial Services, and in addition to the Committee on 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. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2008-11-20 Referred to the Committee on Financial Services, and in addition to the Committee on 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. IntroReferral H11100-A 9 Library of Congress 2008-11-20 Referred to the Committee on Financial Services, and in addition to the Committee on 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. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2008-11-20 Introduced in House IntroReferral Intro-H 9 Library of Congress 2008-11-20 Introduced in House IntroReferral 1000 9 Library of Congress G000552 Rep. Gohmert, Louie [R-TX-1] Louie Gohmert R TX 1 N Finance and Financial Sector Bank accounts, deposits, capital Business investment and capital Buy American requirements Corporate finance and management Employee hiring Employment and training programs Financial crises and stabilization Foreign and international corporations Government lending and loan guarantees Government trust funds Housing finance and home ownership Income tax deductions Infrastructure development Interest, dividends, interest rates Research and development Securities Taxation of foreign income U.S. and foreign investments Finance and Financial Sector 00 2008-11-20 Introduced in House 2009-02-18T22:03:39Z Responsibly Ending Authority to Purchase Act of 2008 or the REAP Act of 2008 - Terminates the authority of the Secretary of the Treasury to establish the Troubled Asset Relief Program (TARP) under the Emergency Economic Stabilization Act of 2008 (EESA).

Amends the EESA to convert the program to guarantee troubled assets into a program to guarantee troubled mortgage-backed securities. Terminates such program on December 31, 2009.

Renames the Troubled Assets Insurance Financing Fund the Troubled Mortgage-Backed Securities Insurance Financing Fund.

Defines troubled mortgage-backed securities as a residential or commercial mortgage or any instrument originated or issued on or before March 14, 2008, that is based upon or related to such mortgage.

Amends the Internal Revenue Code to allow a deduction for between 85% and 100% of dividends received from controlled foreign corporations by certain corporations which are U.S. shareholders.

Requires such deduction to be invested in the United States pursuant to a specified domestic reinvestment plan, including as a source for the funding of worker hiring and training, infrastructure, research and development, capital investments, or the financial stabilization of the corporation for the purposes of job retention or creation. States that such reinvestment requirements shall be met if amounts repatriated are invested in distressed debt for at least one year.

]]> Responsibly Ending Authority to Purchase Act of 2008 Short Titles as Introduced REAP Act of 2008 Short Titles as Introduced Responsibly Ending Authority to Purchase Act of 2008 Display Title Responsibly Ending Authority to Purchase Act of 2008 Official Title as Introduced To immediately terminate the authority of the Secretary of the Treasury under the Emergency Economic Stabilization Act of 2008 to purchase troubled assets, to require the Secretary to make insurance of troubled mortgage-backed securities available for purchase, and to provide incentives to reinvest foreign earnings in the United States, and for other purposes. Introduced in House 2008-11-20T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-110hr7305ih/xml/BILLS-110hr7305ih.xml 2008-11-20 Referred to the Committee on Financial Services, and in addition to the Committee on 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. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.