3.0.0 1723 2023-01-11T13:17:58Z 2023-01-11T13:17:58Z Senate S S 2009-09-29 111 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Standing Referred to 2009-09-29T18:15:44Z TARP Recipient Ownership Trust Act of 2009 111 3594 HR 2009-09-17 Referred to House Rules Related bill CRS 2009-09-29 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text of measure as introduced: CR S9932-9933) IntroReferral 2009-09-29 Introduced in Senate IntroReferral 10000 9 Library of Congress C001071 Sen. Corker, Bob [R-TN] Bob Corker R TN N W000805 Sen. Warner, Mark R. [D-VA] Mark Warner D VA R. 2009-09-29 True B001267 Sen. Bennet, Michael F. [D-CO] Michael Bennet D CO 2009-09-29 True K000367 Sen. Klobuchar, Amy [D-MN] Amy Klobuchar D MN 2009-09-29 True D000432 Sen. Dorgan, Byron L. [D-ND] BYRON DORGAN D ND LESLIE 2009-10-14 False B000382 Sen. Bennett, Robert F. [R-UT] ROBERT BENNETT R UT F. 2009-10-15 False A000360 Sen. Alexander, Lamar [R-TN] Lamar Alexander R TN 2009-10-21 False C000880 Sen. Crapo, Mike [R-ID] Mike Crapo R ID 2009-11-03 False Finance and Financial Sector Bank accounts, deposits, capital Business investment and capital Congressional oversight Corporate finance and management Financial crises and stabilization Financial services and investments House of Representatives Legislative rules and procedure Public-private cooperation Securities Senate Finance and Financial Sector 00 2009-09-29 Introduced in Senate 2009-12-04T18:20:09Z TARP Recipient Ownership Trust Act of 2009 - Amends the Emergency Economic Stabilization Act of 2008 (EESA) to authorize the Secretary of the Treasury to delegate to a private entity management authority over troubled assets with respect to any entity assisted under the Troubled Asset Relief Program (TARP).

Prohibits any expenditure of TARP funds until the Secretary transfers all voting, nonvoting, and common equity in any designated TARP recipient to a limited liability company, to be held and managed in trust on behalf of U.S. taxpayers.

Requires the trustees to liquidate the trust and its assets by December 24, 2011, unless: (1) the trustees report to Congress that liquidation would not maximize profitability of the company and the return on investment to the taxpayer; and (2) Congress enacts into law a joint resolution disapproving the liquidation plan of the Secretary.

]]> TARP Recipient Ownership Trust Act of 2009 Display Title TARP Recipient Ownership Trust Act of 2009 Official Title as Introduced A bill to authorize the Secretary of the Treasury to delegate management authority over troubled assets purchased under the Troubled Asset Relief Program, to require the establishment of a trust to manage assets of certain designated TARP recipients, and for other purposes. Introduced in Senate IS Short Titles as Introduced TARP Recipient Ownership Trust Act of 2009 Introduced in Senate 2009-09-29T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-111s1723is/xml/BILLS-111s1723is.xml 2009-09-29 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text of measure as introduced: CR S9932-9933) 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.