II 110th CONGRESS 2d Session S. 3683 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.

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.