To authorize and remove impediments to the repayment of funds received under the Troubled Asset Relief Program.

SA 1016. Mr. VITTER submitted an amendment intended to be proposed to
amendment SA 1018 submitted by Mr. Dodd (for himself and Mr. Shelby) to
the bill S. 896, to prevent mortgage foreclosures and enhance mortgage
credit availability; as follows:

At the appropriate place, insert the following:

SEC. __. REPAYMENT OF TARP FUNDS.

Section 111(g) of the Emergency Economic Stabilization Act
of 2008 (12 U.S.C. 5221(g)) is amended--
(1) by striking ``Subject to'' and inserting the following:
``(1) Repayment permitted.--Subject to'';
(2) by inserting ``if, subsequent to such repayment, the
TARP recipient is well capitalized (as determined by the
appropriate Federal banking agency having supervisory
authority over the TARP recipient)'' after ``waiting
period,'';
(3) by striking ``, and when such assistance is repaid, the
Secretary shall liquidate warrants associated with such
assistance at the current market price''; and
(4) by adding at the end the following:
``(2) No repayment precondition for warrants.--A TARP
recipient that exercises the repayment authority under
paragraph (1) shall not be required to repurchase warrants
from the Federal Government as a condition of repayment of
assistance provided under the TARP. The Secretary shall, at
the request of the relevant TARP recipient, repay the
proceeds of warrants repurchased before the date of enactment
of this paragraph.''.
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