I 111th CONGRESS 1st Session H. R. 3428 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.

1.

Short title

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

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:

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. .