[Congressional Bills 111th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3428 Introduced in House (IH)]

111th CONGRESS
  1st Session
                                H. R. 3428

To amend the Emergency Economic Stabilization Act of 2008 to require a 
 corresponding reduction in the authorization to purchase each time a 
  repayment is made for assistance received under the Troubled Asset 
                            Relief Program.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             July 30, 2009

 Mr. Reichert 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 a 
 corresponding reduction in the authorization to purchase each time a 
  repayment is made for assistance 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. SHORT TITLE.

    This Act may be cited as the ``Reclaiming Bailout Funds for 
Taxpayers Act''.

SEC. 2. CORRESPONDING REDUCTION IN AUTHORIZATION TO PURCHASE.

    (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. CORRESPONDING REDUCTION IN AUTHORIZATION TO PURCHASE.

    ``Each time a financial institution makes a repayment of assistance 
provided under this title, the authorization to purchase authority 
under section 115 shall be reduced by a corresponding dollar amount.''.
    (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. Corresponding reduction in authorization to purchase.''.
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