[Congressional Bills 111th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4617 Introduced in House (IH)]

111th CONGRESS
  2d Session
                                H. R. 4617

 To amend the Emergency Economic Stabilization Act of 2008 to require 
   institutions to segregate funds received under the Troubled Asset 
 Relief Program and to amend the Federal Election Campaign Act of 1971 
       to prohibit the use of any such funds for expenditures or 
             electioneering communications under such Act.


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                    IN THE HOUSE OF REPRESENTATIVES

                            February 5, 2010

   Mr. Walz introduced the following bill; which was referred to the 
 Committee on Financial Services, and in addition to the Committee on 
House Administration, for a period to be subsequently determined by the 
  Speaker, in each case for consideration of such provisions as fall 
           within the jurisdiction of the committee concerned

_______________________________________________________________________

                                 A BILL


 
 To amend the Emergency Economic Stabilization Act of 2008 to require 
   institutions to segregate funds received under the Troubled Asset 
 Relief Program and to amend the Federal Election Campaign Act of 1971 
       to prohibit the use of any such funds for expenditures or 
             electioneering communications under such Act.

    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 ``Separate Taxpayer Dollars from the 
Election Process Act of 2010''.

SEC. 2. TARP ASSISTANCE SEGREGATION REQUIREMENT.

    Title I of the Emergency Economic Stabilization Act of 2008 (12 
U.S.C. 5211 et seq.) is amended by adding at the end the following new 
section:

``SEC. 137. TARP ASSISTANCE SEGREGATION REQUIREMENT.

    ``(a) In General.--Any financial institution, other than a natural 
person, receiving Federal funds in connection with assistance received 
under this title shall--
            ``(1) if such funds are received before the date of the 
        enactment of this section, transfer an amount equal to the 
        total unexpended amount of such funds into a separate, 
        segregated account from the other operating funds of the 
        institution and maintain such funds in the segregated account 
        until they are expended; and
            ``(2) if such funds are received on or after the date of 
        the enactment of this section, deposit such funds in a 
        separate, segregated account from the other operating funds of 
        the institution and maintain such funds in the segregated 
        account until they are expended.
    ``(b) Transition Rule.--Federal funds that are required to be 
segregated by reason of subsection (a)(1) shall be so segregated not 
later than the end of the 30-day period beginning on the date of the 
enactment of this section.''.

SEC. 3. PROHIBITING USE OF SEGREGATED FUNDS FOR CERTAIN CAMPAIGN-
              RELATED DISBURSEMENTS.

    Title III of the Federal Election Campaign Act of 1971 (2 U.S.C. 
431 et seq.) is amended by inserting after section 316 the following 
new section:

``SEC. 316A. PROHIBITING USE OF TARP ASSISTANCE FOR EXPENDITURES OR 
              ELECTIONEERING COMMUNICATIONS.

    ``No person may use any Federal funds that are required to be 
segregated under section 137(a) of the Emergency Economic Stabilization 
Act of 2008 to make any expenditure or electioneering communication.''.
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