[Congressional Bills 110th Congress]
[From the U.S. Government Publishing Office]
[H.R. 7297 Introduced in House (IH)]







110th CONGRESS
  2d Session
                                H. R. 7297

    To establish conditions on any distribution of funds under the 
Emergency Economic Stabilization Act of 2008 to provide relief for the 
    automotive industry, dealerships, and suppliers, and for other 
                               purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                           November 20, 2008

   Ms. Jackson-Lee of Texas introduced the following bill; which was 
            referred to the Committee on Financial Services

_______________________________________________________________________

                                 A BILL


 
    To establish conditions on any distribution of funds under the 
Emergency Economic Stabilization Act of 2008 to provide relief for the 
    automotive industry, dealerships, and suppliers, 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. SHORT TITLE.

    This Act may be cited as the ``Emergency Automobile Industry 
American Jobs Protection Act of 2008''.

SEC. 2. DEFINITIONS.

    For purposes of this Act, the automobile companies, General Motors, 
Ford, and Chrysler are referred to as the ``Big Three'' automobile 
companies.

SEC. 3. REQUIREMENTS ON DISTRIBUTION OF LOAN FUNDS.

    (a) Distribution of loan funds to the ``Big Three'' automobile 
companies pursuant to the Emergency Economic Stabilization Act of 2008, 
to authorize loans to automobile manufacturers, and for other purposes, 
should be conditioned upon the ``Big Three'' automobile companies 
filing a certification with the Congress, before any disbursement of 
loan funds, that--
            (1) United States automobile jobs will not be decreased by 
        relocation to foreign countries;
            (2) automobile dealerships will benefit from the receipt of 
        these loan funds, and that the ``Big Three'' shall further 
        provide for the stability of such dealerships, including women 
        and minority-owned dealerships; and
            (3) United States automobile suppliers will also be 
        supported by and stabilized by such loan funding.
    (b) No loan funds distributed pursuant to the Emergency Economic 
Stabilization Act of 2008, to authorize loans to automobile 
manufacturers, and for other purposes, should be used by the ``Big 
Three'' automobile companies to allow them to relocate overseas if the 
relocation causes the loss of United States automobile industry jobs, 
dealerships, or suppliers.

SEC. 4. IMPACT OF DISTRIBUTION OF LOAN FUNDS.

    Loan funds distributed pursuant to the Emergency Economic 
Stabilization Act of 2008, to authorize loans to automobile 
manufacturers, and for other purposes, should be used to ensure the 
stability of the ``Big Three'' automobile companies and should be used 
by the ``Big Three'' automobile companies to establish a long-term plan 
of growth for United States automobile dealerships, including women and 
minority-owned dealerships, and United States automotive industry 
suppliers.
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