[Congressional Record Volume 154, Number 152 (Wednesday, September 24, 2008)]
[Senate]
[Page S9434]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                    AUTHORIZING DOCUMENT PRODUCTION

  Mr. SALAZAR. Madam President, I ask unanimous consent that the Senate 
proceed to the immediate consideration of S. Res. 680, which was 
submitted earlier today.
  The PRESIDING OFFICER. The clerk will report the resolution by title.
  The legislative clerk read as follows:

       A resolution (S. Res. 680) to authorize the production of 
     records by the Permanent Subcommittee on Investigations of 
     the Committee on Homeland Security and Governmental Affairs.

  There being no objection, the Senate proceeded to consider the 
resolution.
  Mr. REID. Madam President, the Permanent Subcommittee on 
Investigations of the Committee on Homeland Security and Governmental 
Affairs has received requests from various law enforcement and 
regulatory agencies, seeking access to records that the Subcommittee 
obtained during its recent investigation into how financial 
institutions have designed, marketed, and implemented transactions 
intended to enable foreign taxpayers to avoid taxes on U.S. stock 
dividends.
  This resolution would authorize the chairman and ranking minority 
member of the Permanent Subcommittee on Investigations, acting jointly, 
to provide records, obtained by the Subcommittee in the course of its 
investigation, in response to these requests and any similar requests 
from government entities and officials with a legitimate need for the 
records.
  Mr. SALAZAR. I ask unanimous consent that the resolution be agreed to 
and the motion to reconsider be laid upon the table; that any 
statements be printed in the Record as if read.
  The PRESIDING OFFICER. Without objection, it is so ordered.
  The resolution (S. Res. 680) was agreed to.
  The preamble was agreed to.
  The resolution, with its preamble, read as follows:

                              S. Res. 680

       Whereas, the Permanent Subcommittee on Investigations of 
     the Committee on Homeland Security and Governmental Affairs 
     conducted an investigation into how financial institutions 
     have designed, marketed, and implemented transactions 
     intended to enable foreign taxpayers to avoid taxes, on U.S. 
     stock dividends;
       Whereas, the Subcommittee has received requests from law 
     enforcement and regulatory agencies for access to records of 
     the Subcommittee's investigation;
       Whereas, by the privileges of the Senate of the United 
     States and Rule XI of the Standing Rules of the Senate, no 
     evidence under the control or in the possession of the Senate 
     can, by administrative or judicial process, be taken from 
     such control or possession but by permission of the Senate;
       Whereas, when it appears that evidence under the control or 
     in the possession of the Senate is needed for the promotion 
     of justice, the Senate will take such action as will promote 
     the ends of justice consistent with the privileges of the 
     Senate: Now, therefore, be it
       Resolved, That the Chairman and Ranking Minority Member of 
     the Permanent Subcommittee on Investigations of the Committee 
     on Homeland Security and Governmental Affairs, acting 
     jointly, are authorized to provide to law enforcement 
     officials, regulatory agencies, and other entities or 
     individuals duly authorized by federal, state, or foreign 
     governments, records of the Subcommittee's investigation into 
     how financial institutions have designed, marketed, and 
     implemented transactions intended to enable foreign taxpayers 
     to avoid taxes on U.S. stock dividends.

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