[Congressional Bills 110th Congress]
[From the U.S. Government Publishing Office]
[H.R. 7333 Introduced in House (IH)]







110th CONGRESS
  2d Session
                                H. R. 7333

 To amend the Emergency Economic Stabilization Act of 2008 (Public Law 
   110-343) to provide the Special Inspector General with additional 
    personnel, audit, and investigation authorities, and for other 
                               purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                           December 10, 2008

  Mr. Flake introduced the following bill; which was referred to the 
                    Committee on Financial Services

_______________________________________________________________________

                                 A BILL


 
 To amend the Emergency Economic Stabilization Act of 2008 (Public Law 
   110-343) to provide the Special Inspector General with additional 
    personnel, audit, and investigation authorities, 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 ``Special Inspector General for the 
Troubled Asset Relief Program Act of 2008''.

SEC. 2. SPECIAL INSPECTOR GENERAL FOR THE TROUBLED ASSET RELIEF 
              PROGRAM.

    (a) Personnel Authorities.--Section 121(e)(1) of the Emergency 
Economic Stabilization Act of 2008 (Public Law 110-343) is amended--
            (1) by inserting ``(A)'' after ``(1)''; and
            (2) by adding at the end the following:
                    ``(B)(i) Subject to clause (ii), the Special 
                Inspector General may exercise the authorities of 
                subsections (b) through (i) of section 3161 of title 5, 
                United States Code (without regard to subsection (a) of 
                that section).
                    ``(ii) In exercising the employment authorities 
                under subsection (b) of section 3161 of title 5, United 
                States Code, as provided under clause (i) of this 
                subparagraph--
                            ``(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 2008;
                            ``(II) paragraph (2) of that subsection 
                        (relating to periods of appointments) shall not 
                        apply; and
                            ``(III) no period of appointment may exceed 
                        the date on which the Office of the Special 
                        Inspector General terminates under subsection 
                        (h).''.
    (b) Audit and Investigation Authorities.--Section 121 of the 
Emergency Economic Stabilization Act of 2008 (Public Law 110-343) is 
amended--
            (1) in subsection (c), by adding at the end the following:
            ``(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.
            ``(B) Subparagraph (A) shall not apply to any action taken 
        under section 115, 116, 117, or 125.''; and
            (2) in subsection (d)(2), by striking ``subsection (c)(1)'' 
        and inserting ``subsection (c)(1) and (4)''.
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