[Congressional Bills 110th Congress]
[From the U.S. Government Publishing Office]
[H.R. 7276 Introduced in House (IH)]







110th CONGRESS
  2d Session
                                H. R. 7276

 To amend the Emergency Economic Stabilization Act of 2008 to require 
prior approval by the Congress for expenditures from the third tranche, 
                        and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                           November 19, 2008

Mr. Neugebauer (for himself, Mr. Price of Georgia, Mr. Wilson of South 
 Carolina, Mr. Jones of North Carolina, Mr. Goodlatte, Mrs. Blackburn, 
Mr. Flake, Mr. Paul, Mr. Hensarling, Mr. Conaway, Mr. Lamborn, and Mr. 
 McCaul of Texas) introduced the following bill; which was referred to 
                  the Committee on Financial Services

_______________________________________________________________________

                                 A BILL


 
 To amend the Emergency Economic Stabilization Act of 2008 to require 
prior approval by the Congress for expenditures from the third tranche, 
                        and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. PRIOR APPROVAL FOR THIRD TRANCHE REQUIRED.

    Section 115 of the Emergency Economic Stabilization Act of 2008 
(division A of Public Law 110-343) is amended by striking subsections 
(c), (d), (e), and (f) and inserting the following new subsection:
    ``(c) Joint Resolution of Approval.--Notwithstanding any other 
provision of this section, the Secretary may not exercise any authority 
to make purchases under this Act with regard to any amount in excess of 
$350,000,000,000 previously obligated, as described in this section, 
unless there is enacted into law a joint resolution approving the plan 
of the Secretary with respect to such additional amount.''.
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