[Congressional Bills 110th Congress]
[From the U.S. Government Publishing Office]
[S. 3683 Introduced in Senate (IS)]







110th CONGRESS
  2d Session
                                S. 3683

 To amend the Emergency Economic Stabilization Act to require approval 
by the Congress for certain expenditures for the Troubled Asset Relief 
                                Program.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

           November 17 (legislative day, September 17), 2008

  Mr. Inhofe introduced the following bill; which was read twice and 
    referred to the Committee on Banking, Housing, and Urban Affairs

_______________________________________________________________________

                                 A BILL


 
 To amend the Emergency Economic Stabilization Act to require approval 
by the Congress for certain expenditures for the Troubled Asset Relief 
                                Program.

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

SECTION 1. APPROVAL REQUIRED FOR TARP OBLIGATIONS.

    Section 115 of the Emergency Economic Stabilization Act (Public Law 
110-343) is amended--
            (1) in subsection (a)(3)--
                    (A) by striking ``unless there is enacted, within 
                15 calendar days of'' and inserting ``until there is 
                enacted, not later than 15 calendar days after''; and
                    (B) by striking ``, effective upon the expiration 
                of such 15-day period,''; and
            (2) in subsection (c)--
                    (A) in the subsection heading, by striking 
                ``Disapproval'' and inserting ``Approval''; and
                    (B) in paragraph (1)--
                            (i) by striking ``in excess of 
                        $350,000,000,000 previously obligated'' and 
                        inserting the following: ``authorized under 
                        paragraph (1), (2), or (3), of subsection (a) 
                        that is not obligated, as of November 14, 
                        2008,'' and
                            (ii) by striking ``disapproving'' and 
                        inserting ``approving'';
                    (C) in paragraph (2)(C), by striking 
                ``disapproval'' and inserting ``approval''; and
                    (D) in paragraph (2)(D), by striking 
                ``disapproves'' and inserting ``approves''.
                                 <all>