[Federal Register Volume 74, Number 27 (Wednesday, February 11, 2009)]
[Presidential Documents]
[Pages 6983-6984]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E9-3112]


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  Federal Register / Vol. 74, No. 27 / Wednesday, February 11, 2009 / 
Presidential Documents  

[[Page 6983]]


                Executive Order 13501 of February 6, 2009

                
Establishment of the President's Economic 
                Recovery Advisory Board

                By the authority vested in me as President by the 
                Constitution and the laws of the United States of 
                America, and in order to enhance the strength and 
                competitiveness of the Nation's economy and the 
                prosperity of the American people by ensuring the 
                availability of independent, nonpartisan information, 
                analysis, and advice to the President as he formulates 
                and implements his plans for economic recovery, it is 
                hereby ordered as follows:

                Section 1. There is hereby established within the 
                Department of the Treasury the President's Economic 
                Recovery Advisory Board (PERAB). The PERAB shall 
                consist of not more than 17 members, who shall be 
                appointed by the President from among distinguished 
                citizens from outside the Government who are qualified 
                on the basis of achievement, experience, independence, 
                and integrity. The overall membership of the PERAB 
                shall reflect a diverse set of perspectives from across 
                the country and from various sectors of the economy. 
                The President shall designate a Chair from among the 
                members. The Chair shall appoint a Staff Director, who 
                shall supervise the staff of the PERAB.

                Sec. 2. The functions of the PERAB are advisory only. 
                The PERAB shall meet regularly and shall:

                    (a) solicit information and ideas from across the 
                country and from all sectors of our economy about the 
                functioning of the economy, the condition of the 
                financial and banking system, and the prosperity of the 
                American people and of American industry that can serve 
                to inform the decisionmaking of the President, and, 
                with respect to matters deemed appropriate by the 
                President, provide information and recommendations to 
                any other agency with responsibilities related to the 
                economy or financial markets or to the National 
                Economic Council;
                    (b) report directly to the President on the design, 
                implementation, and evaluation of policies to promote 
                the growth of the American economy, establish a stable 
                and sound financial and banking system, create jobs, 
                and improve the long-term prosperity of the American 
                people; and
                    (c) provide analysis and information with respect 
                to the operation, regulation, and healthy functioning 
                of the economy and of the financial and banking system. 
                As deemed appropriate by the President, this analysis 
                and information shall be provided to the Chairman of 
                the Board of Governors of the Federal Reserve System, 
                to any other agency with responsibilities related to 
                the economy or financial markets, or to the National 
                Economic Council.

                Sec. 3. Administration of the PERAB. (a) All executive 
                departments and agencies and all entities within the 
                Executive Office of the President shall cooperate with 
                the PERAB and provide such information and assistance 
                to the PERAB as the PERAB may request, to the extent 
                permitted by law.

                    (b) The Department of the Treasury shall provide 
                funding and administrative support for the PERAB to the 
                extent permitted by law and within existing 
                appropriations.
                    (c) Members of the PERAB shall serve without 
                compensation but may receive transportation expenses, 
                including per diem in lieu of subsistence,

[[Page 6984]]

                as authorized by law for persons serving intermittently 
                in the Government (5 U.S.C. 5701-5707), consistent with 
                the availability of funds.

                Sec. 4. Termination. The PERAB shall terminate 2 years 
                after the date of this order unless extended by the 
                President.

                Sec. 5. General Provisions. (a) Insofar as the Federal 
                Advisory Committee Act, as amended (5 U.S.C. App.) (the 
                ``Act''), may apply to the PERAB, any functions of the 
                President under the Act, except for those in section 6 
                of the Act, shall be performed by the Secretary of the 
                Treasury in accordance with the guidelines that have 
                been issued by the Administrator of General Services.

                    (b) Nothing in this order shall be construed to 
                impair or otherwise affect:

  (i) authority granted by law to a department or agency,or the head 
thereof; or

  (ii) functions of the Director of the Office of Management and Budget 
relating to budgetary, administrative, or legislative proposals.

                    (c) This order shall be implemented consistent with 
                applicable law and subject to the availability of 
                appropriations.
                    (d) This order is not intended to, and does not, 
                create any right or benefit, substantive or procedural, 
                enforceable at law or in equity by any party against 
                the United States, its departments, agencies, or 
                entities, its officers, employees, or agents, or any 
                other person.
                
                
                    (Presidential Sig.)

                THE WHITE HOUSE,

                    February 6, 2009.

[FR Doc. E9-3112
Filed 2-10-09; 1:00 pm]
Billing code 3195-W9-P