[Congressional Bills 111th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3179 Introduced in House (IH)]

111th CONGRESS
  1st Session
                                H. R. 3179

 To amend the Emergency Economic Stabilization Act of 2008 to require 
the Special Inspector General for the Troubled Asset Relief Program to 
   include the effect of the Troubled Asset Relief Program on small 
   businesses in the oversight, audits, and reports provided by the 
           Special Inspector General, and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             July 10, 2009

 Mr. Paulsen 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 require 
the Special Inspector General for the Troubled Asset Relief Program to 
   include the effect of the Troubled Asset Relief Program on small 
   businesses in the oversight, audits, and reports provided by the 
           Special Inspector General, 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 ``SIG TARP Small Business Awareness Act of 
2009''.

SEC. 2. FINDINGS.

    The Congress finds as follows:
            (1) Small businesses are going to be the driving force 
        behind revitalizing our economy.
            (2) Small financial institutions are a primary financial 
        resource for small businesses.
            (3) In a hearing of the Committee on Financial Services of 
        the House of Representatives, witnesses testified that smaller 
        financial institutions are having difficulty receiving funds 
        from the Troubled Asset Relief Program.
            (4) In a hearing of the Committee on Financial Services of 
        the House of Representatives, witnesses also testified that 
        small businesses are having trouble receiving credit and 
        financial products from banks and other financial institutions.

SEC. 3. DUTIES OF THE SPECIAL INSPECTOR GENERAL FOR THE TROUBLED ASSET 
              RELIEF PROGRAM RELATING TO SMALL FINANCIAL INSTITUTIONS 
              AND BUSINESSES.

    Section 121(c) of the Emergency Economic Stabilization Act of 2008 
(12 U.S.C. 5231(c)) is amended by adding at the end the following new 
paragraph:
            ``(4) Effects of program on small financial institutions 
        and small businesses.--
                    ``(A) Small financial institutions.--In conducting 
                audits and providing oversight of the Troubled Asset 
                Relief Program in accordance with this section, the 
                Special Inspector General shall examine how smaller 
                financial institutions are being affected by--
                            ``(i) expenditures under the Program 
                        (including the adequacy of financial assistance 
                        provided to or on behalf of such smaller 
                        financial institutions); and
                            ``(ii) the considerations and 
                        determinations of--
                                    ``(I) the Secretary under this 
                                title; and
                                    ``(II) the regulators of such 
                                smaller financial institutions, with 
                                respect to capital adequacy and 
                                troubled assets.
                    ``(B) Small businesses.--In conducting audits and 
                providing oversight of the Troubled Asset Relief 
                Program, the Special Inspector General shall examine 
                the effects the provision of financial assistance under 
                this title has had on small businesses, including both 
                positive and negative effects and the extent of such 
                effects on small businesses generally and by type and 
                region.
                    ``(C) Reports.--Any report prepared by the Special 
                Inspector General under this section shall include the 
                results of the activities of the Special Inspector 
                General under paragraphs (1) and (2).''.
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