[Congressional Bills 111th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2009 Introduced in House (IH)]

111th CONGRESS
  1st Session
                                H. R. 2009

  To amend the Emergency Economic Stabilization Act of 2008 to permit 
 immediate repayment of direct capital investments received under the 
                     Troubled Asset Relief Program.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             April 21, 2009

Mr. McClintock 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 permit 
 immediate repayment of direct capital investments received under 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. RIGHT OF REPAYMENT UNDER TARP.

    (a) In General.--Title I of the Emergency Economic Stabilization 
Act of 2008 (12 U.S.C. 5201 et seq.) is amended by adding at the end 
the following new section:

``SEC. 137. RIGHT OF REPAYMENT.

    ``Any financial institution that has received or receives a direct 
capital investment under this title shall, notwithstanding any other 
provision of law or any agreement made by such institution, have the 
right to immediately repay such direct capital investment, and the 
Secretary shall unconditionally accept such a payment.''.
    (b) Conforming Amendment.--The table of contents for such Act is 
amended by inserting after the item relating to section 136 the 
following new item:

``137. Right of repayment.''.
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