To authorize monies for the Special Inspector General for the Troubled Asset Relief Program to audit and investigate recipients of non-recourse Federal loans under the Public Private Investment Program and the Term Asset Loan Facility.
What it does: Inserts new text on page 20, between lines 11 and 12
Sen. Barbara Boxer (D-CA)What it changes
1 change to S. 386
Inserts new text on page 20, between lines 11 and 12
InsertsPrinted pageInserted: (e) Additional Funding for the Special Inspector General for the Troubled Asset Relief Program.--
Inserted: (1) In general.--Of the amounts of authority made available pursuant to section 115(a) of the Emergency Economic Stabilization Act of 2008 (P.L. 110-343), an additional $15,000,000 shall be made available to the Special Inspector General of the Troubled Asset Relief Program (in this subsection referred to as the Special Inspector General).
Inserted: (2) Priorities.--In utilizing funds made available under this subsection, the Special Inspector General shall prioritize the performance of audits or investigations of recipients of non-recourse Federal loans made by the Secretary of the Treasury or the Board of Governors of the Federal Reserve System, to the extent that such priority is consistent with other aspects of the mission of the Special Inspector General. Such audits or investigations shall determine the existence of any collusion between the loan recipient and the seller or originator of the asset used as loan collateral, or any other conflict of interest that may have led the loan recipient to deliberately overstate the value of the asset used as loan collateral.
Original wording
On page 20, between lines 11 and 12, insert the following:
Read automatically from the Congressional Record. Check the original before relying on it.
As printed
On page 20, between lines 11 and 12, insert the following:
“(e) Additional Funding for the Special Inspector General for the Troubled Asset Relief Program.--
“(1) In general.--Of the amounts of authority made available pursuant to section 115(a) of the Emergency Economic Stabilization Act of 2008 (P.L. 110-343), an additional $15,000,000 shall be made available to the Special Inspector General of the Troubled Asset Relief Program (in this subsection referred to as the Special Inspector General).
“(2) Priorities.--In utilizing funds made available under this subsection, the Special Inspector General shall prioritize the performance of audits or investigations of recipients of non-recourse Federal loans made by the Secretary of the Treasury or the Board of Governors of the Federal Reserve System, to the extent that such priority is consistent with other aspects of the mission of the Special Inspector General. Such audits or investigations shall determine the existence of any collusion between the loan recipient and the seller or originator of the asset used as loan collateral, or any other conflict of interest that may have led the loan recipient to deliberately overstate the value of the asset used as loan collateral.”.
Legislative Activity
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Considered by Senate. (consideration: CR S4735, S4740)
April 27, 2009
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Considered by Senate. (consideration: CR S4735, S4740)
April 27, 2009
Amendment SA 1000 ruled non-germane by the chair. (consideration: CR S4740)
April 27, 2009
Considered by Senate. (consideration: CR S4604, S4616, S4631; text as modified: CR S4631)
April 23, 2009
Senate amendment submitted
April 22, 2009
Senate amendment proposed (on the floor): Amendment SA 1000 proposed by Senator Boxer.(consideration: CR S4556-4558; text: CR S4557)
April 22, 2009
Amendment SA 1000 proposed by Senator Boxer. (consideration: CR S4556-4558; text: CR S4557) To authorize monies for the Special Inspector General for the Troubled Asset Relief Program to audit and investigate recipients of non-recourse Federal loans under the Public Private Investment Program and the Term Asset Loan Facility.
April 22, 2009
Amendments
1 amendmentOffered to this amendment
Amendments
1 amendmentOffered to this amendment