[Congressional Bills 111th Congress]
[From the U.S. Government Publishing Office]
[H.R. 979 Introduced in House (IH)]

111th CONGRESS
  1st Session
                                H. R. 979

  To limit excessive and luxury expenses by recipients of assistance 
 under the Emergency Economic Stabilization Act of 2008, and for other 
                               purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                           February 11, 2009

   Mr. Hare (for himself, Mr. Arcuri, Mr. Kissell, Ms. Giffords, Mr. 
   Space, Mr. Boccieri, Mr. Massa, Mr. Lipinski, Mrs. Kirkpatrick of 
Arizona, Ms. Pingree of Maine, and Mr. Tonko) introduced the following 
    bill; which was referred to the Committee on Financial Services

_______________________________________________________________________

                                 A BILL


 
  To limit excessive and luxury expenses by recipients of assistance 
 under the Emergency Economic Stabilization Act of 2008, 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 the ``Stop Taxpayer-Offensive Practices 
Act of 2009'' or the ``STOP Act''.

SEC. 2. LIMITS ON EXCESSIVE AND LUXURY EXPENSES BY RECIPIENTS OF 
              ASSISTANCE UNDER TARP.

    (a) In General.--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. LIMITATION ON EXCESSIVE AND LUXURY EXPENSES BY RECIPIENTS 
              OF ASSISTANCE.

    ``(a) Policies Established by Secretary.--The Secretary shall 
establish policies regarding excessive or luxury expenditures, as 
identified by the Secretary, which prohibit excessive expenditures by 
any recipient of assistance under this title on--
            ``(1) entertainment or events;
            ``(2) office and facility renovations;
            ``(3) any aviation or other transportation service; and
            ``(4) any other activity or event that is not a reasonable 
        expenditure for any conference, staff development, performance 
        incentive, or other similar activity or event conducted in the 
        normal course of the business operations of the recipient.
    ``(b) Action by Recipient.--The board of directors of each 
recipient of assistance under this title (or any other person or entity 
in whom the management of the recipient is vested) shall establish 
company-wide policies for limiting excessive or luxury expenditures by 
the recipient that are not inconsistent with the policies established 
by the Secretary under subsection (a).
    ``(c) Effective Period.--Any policy established by the Secretary or 
any board of directors that is applicable under this section to any 
recipient of assistance under this title shall remain effective for 
such recipient while any such assistance remains outstanding.''.
    (b) Clerical Amendment.--The table of contents for the Emergency 
Economic Stabilization Act of 2008 is amended by inserting after the 
item relating to section 136 the following new item:

``137. Limitation on excessive and luxury expenses by recipients of 
                            assistance.''.
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