[Congressional Bills 111th Congress]
[From the U.S. Government Publishing Office]
[S. 836 Introduced in Senate (IS)]

111th CONGRESS
  1st Session
                                 S. 836

  To provide enhanced authority to the Congressional Oversight Panel 
  established pursuant to the Emergency Economic Stabilization Act of 
                                 2008.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                             April 20, 2009

 Ms. Snowe (for herself and Mr. Wyden) introduced the following bill; 
which was read twice and referred to the Committee on Banking, Housing, 
                           and Urban Affairs

_______________________________________________________________________

                                 A BILL


 
  To provide enhanced authority to the Congressional Oversight Panel 
  established pursuant to the Emergency Economic Stabilization Act of 
                                 2008.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SUBPOENA POWER FOR CONGRESSIONAL OVERSIGHT PANEL.

    Section 125(e)(1) of the Emergency Economic Stabilization Act of 
2008 (12 U.S.C. 5233(e)(1)) is amended--
            (1) by striking ``The Oversight'' and inserting the 
        following:
                    ``(A) In general.--The Oversight''; and
            (2) by adding at the end the following:
                    ``(B) Subpoena power.--For purposes of carrying out 
                this section, upon majority vote of its members, the 
                Oversight Panel may require, by subpoena or otherwise, 
                the attendance and testimony of witnesses and the 
                production of such books, records, correspondence, 
                memoranda, papers, documents, tapes, and materials as 
                the Oversight Panel considers advisable.
                    ``(C) Issuance and enforcement of subpoenas.--
                            ``(i) Issuance.--A subpoena issued pursuant 
                        to subparagraph (B) shall bear the signature of 
                        a member of the Oversight Panel, and shall be 
                        served by any person or class of persons 
                        designated by the Oversight Panel for that 
                        purpose.
                            ``(ii) Enforcement.--In the case of 
                        contumacy or failure to obey a subpoena issued 
                        under subparagraph (B), the subpoena shall be 
                        enforceable by order of any appropriate 
                        district court of the United States. Any 
                        failure to obey the order of the court may be 
                        punished by the court as a contempt of that 
                        court.''.
                                 <all>