II 110th CONGRESS 2d Session S. 3716 IN THE SENATE OF THE UNITED STATES November 20, 2008 Mrs. McCaskill (for herself, Mr. Grassley, Ms. Collins, Mr. Lieberman, and Mr. Bunning) 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 of 2008 (Public Law 110–343) to provide the Special Inspector General with additional personnel, audit, and investigation authorities.

1.

Short title

This Act may be cited as the Special Inspector General for the Troubled Asset Relief Program Act of 2008.

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).