[Congressional Bills 111th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1761 Introduced in House (IH)]

111th CONGRESS
  1st Session
                                H. R. 1761

 To amend the Emergency Economic Stabilization Act of 2008 to restrict 
              the use of TARP funds for domestic purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             March 26, 2009

Mr. Kildee (for himself, Ms. Kaptur, Ms. Sutton, Mr. Michaud, Mr. Hare, 
 Mr. Stupak, Mr. Dingell, Mr. Visclosky, Mr. Holden, Mr. Ryan of Ohio, 
Ms. Shea-Porter, Mr. Brady of Pennsylvania, and Ms. Kilroy) introduced 
 the following bill; which was referred to the Committee on Financial 
                                Services

_______________________________________________________________________

                                 A BILL


 
 To amend the Emergency Economic Stabilization Act of 2008 to restrict 
              the use of TARP funds for domestic 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 Responsible Use of Taxpayer Help 
Act''.

SEC. 2. REQUIREMENT TO USE TARP FUNDS FOR DOMESTIC PURPOSES.

    Title I of the Emergency Economic Stabilization Act of 2008 is 
amended by adding at the end the following new section:

``SEC. 137. REQUIREMENT TO USE TARP FUNDS FOR DOMESTIC PURPOSES.

    ``A financial institution shall not use any assistance provided 
under this title to--
            ``(1) purchase or invest in any foreign asset or business;
            ``(2) transfer money to, or invest in, a foreign subsidiary 
        of the financial institution;
            ``(3) pay any type of compensation to an employee of the 
        financial institution unless such employee is a United States 
        citizen or lawful permanent resident; or
            ``(4) make any other purchase, payment, transfer, or 
        investment, the primary effect of which is to benefit a foreign 
        entity.''.
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