II 111th CONGRESS 1st Session S. 1710 IN THE SENATE OF THE UNITED STATES September 24, 2009 Mr. Vitter (for himself and Mr. Shelby) introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs A BILL To prohibit recipients of TARP assistance from funding ACORN, and for other purposes.

1.

Prohibition on use of funds: ACORN

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:

137.

Prohibition on use of funds: ACORN

(a)

Prohibition

(1)

In general

During the period that an entity is in receipt of financial assistance under the TARP or any other program enacted by the Secretary under the authorities granted to the Secretary under this Act, such entity shall not provide any assistance to, directly or indirectly, fund, promote, or in any way contribute to the activities of ACORN or an ACORN-related affiliate. (2)

Limitation

The prohibition established in paragraph (1) shall not apply to an entity that has repaid all outstanding amounts of any financial assistance that such entity received under the TARP or any other program enacted by the Secretary under the authorities granted to the Secretary under this Act. (b)

Disclosure

Not later than 30 days after the date of enactment of this section, each entity that has received financial assistance under the TARP or any other program enacted by the Secretary under the authorities granted to the Secretary under this Act, shall submit a report to the Secretary and to the appropriate committees of Congress detailing any assistance, whether direct or indirect, that such entity has provided to ACORN or an ACORN-related affiliate in the prior 12 months. (c)

Definition

For purposes of this section— (1)the term ACORN means the Association of Community Organizations for Reform Now and any ACORN-related affiliate; (2)the term ACORN-related affiliate means any of the following: (A)Any State chapter of ACORN registered with the Secretary of State’s office in that State. (B)Any organization that shares directors or employees with ACORN. (C)Any organization that has a financial stake, directly or indirectly, in ACORN. (D)Any organization whose finances, whether federally funded, donor-funded, or raised through organizational goods and services, are shared or controlled, directly or indirectly, by ACORN.

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