[Congressional Bills 111th Congress]
[From the U.S. Government Publishing Office]
[S. 1243 Introduced in Senate (IS)]

111th CONGRESS
  1st Session
                                S. 1243

  To require repayments of obligations and proceeds from the sale of 
 assets under the Troubled Asset Relief Program to be repaid directly 
          into the Treasury for reduction of the public debt.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                             June 11, 2009

Mr. Hatch (for himself and Mrs. Lincoln) introduced the following bill; 
which was read twice and referred to the Committee on Banking, Housing, 
                           and Urban Affairs

_______________________________________________________________________

                                 A BILL


 
  To require repayments of obligations and proceeds from the sale of 
 assets under the Troubled Asset Relief Program to be repaid directly 
          into the Treasury for reduction of the public debt.

    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 Tarp Asset Recycling Act of 
2009'' or the ``STAR Act of 2009''.

SEC. 2. DEPOSIT OF TARP REPAYMENTS AND PROCEEDS INTO TREASURY TO REDUCE 
              THE PUBLIC DEBT.

    (a) In General.--Section 115(a)(3) of the Emergency Economic 
Stabilization Act of 2008 (12 U.S.C. 5225(a)(3)) is amended by striking 
``outstanding at any one time'' and inserting ``, in the aggregate (or 
such higher amount, in the aggregate, as has been obligated or expended 
under this Act as of the date of enactment of the STAR Act of 2009)''.
    (b) Deposit of Funds Into Treasury.--
            (1) In general.--On and after the date of enactment of this 
        Act, all repayments of obligations arising under the Emergency 
        Economic Stabilization Act of 2008 (Public Law 110-343), and 
        all proceeds from the sale of assets acquired by the Federal 
        Government under that Act, shall be paid into the general fund 
        of the Treasury for reduction of the public debt, in accordance 
        with section 106(d) of that Act (12 U.S.C. 5216(d)), as amended 
        by this section.
            (2) Conforming amendment.--Section 106(d) of the Emergency 
        Economic Stabilization Act of 2008 (12 U.S.C. 5216(d)) is 
        amended by inserting ``, and repayments of obligations arising 
        under this Act,'' after ``section 113''.
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