[Congressional Bills 111th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1893 Introduced in House (IH)]

111th CONGRESS
  1st Session
                                H. R. 1893

  To prohibit any person which sells to or otherwise disposes of any 
   asset through a public-private investment program, including the 
Public-Private Investment Program for Legacy Assets, from purchasing or 
otherwise acquiring any other asset from or through such programs, and 
                          for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             April 2, 2009

 Mr. Bachus (for himself and Mr. LaTourette) introduced the following 
    bill; which was referred to the Committee on Financial Services

_______________________________________________________________________

                                 A BILL


 
  To prohibit any person which sells to or otherwise disposes of any 
   asset through a public-private investment program, including the 
Public-Private Investment Program for Legacy Assets, from purchasing or 
otherwise acquiring any other asset from or through such programs, 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 ``Anti-Gaming and Collusion in Public-
Private Investment Program Act''.

SEC. 2. PROHIBITION ON DOUBLE-DIPPING.

    Notwithstanding any other provision of law and in order to limit 
conflicts of interest and to prevent arbitrage, churning, or hedging 
activities through the use of taxpayer money, no person who--
            (1) sells or otherwise disposes of any asset to or through 
        any public-private investment program, including the Public-
        Private Investment Program for Legacy Assets established by the 
        Secretary of the Treasury, in conjunction with the Board of 
        Governors of the Federal Reserve System and the Federal Deposit 
        Insurance Corporation, may purchase or otherwise acquire any 
        other asset from or through any such program; and
            (2) purchases or otherwise acquires any asset from or 
        through any such program may sell or otherwise dispose of that 
        or any other asset to or through any such program.
                                 <all>