S.Amdt. 1362
What it does: Adds SEC. 9. DEPOSIT OF TARP REPAYMENTS AND PROCEEDS INTO TREASURY TO REDUCE THE PUBLIC DEBT at the end of the bill
Sen. Orrin G. Hatch (R-UT)What it changes
1 change to S. 1023 · shown in the bill's text
Adds SEC. 9. DEPOSIT OF TARP REPAYMENTS AND PROCEEDS INTO TREASURY TO REDUCE THE PUBLIC DEBT at the end of the bill
Adds a sectionIn S. 1023 · Reported to Senate
"(b) Authorization of Appropriations.--There are authorized to be appropriated to the Secretary of Commerce for fiscal years 2010 through 2014 such sums as may be necessary to carry out this section.".
Inserted: SEC. 9. DEPOSIT OF TARP REPAYMENTS AND PROCEEDS INTO TREASURY TO REDUCE THE PUBLIC DEBT.
Inserted: (a) Short Title.--This section may be cited as the "Stop Tarp Asset Recycling Act of 2009" or the "STAR Act of 2009".
Inserted: (b) Amendment to TARP Authorization.--Section 115(a)(3) of the Emergency Economic Stabilization Act of 2008 (12 U.S.C. 5225(a)(3)) is amended by striking "outstanding at any one time" and inserting ", in the aggregate (or such higher amount, in the aggregate, as has been obligated or expended under this Act as of the date of enactment of the STAR Act of 2009)".
Inserted: (c) Deposit of Funds Into Treasury.--
Inserted: (1) In general.--On and after the date of enactment of this Act, all repayments of obligations arising under the Emergency Economic Stabilization Act of 2008 (Public Law 110-343), and all proceeds from the sale of assets acquired by the Federal Government under that Act, shall be paid into the general fund of the Treasury for reduction of the public debt, in accordance with section 106(d) of that Act (12 U.S.C. 5216(d)), as amended by this section.
Inserted: (2) Conforming amendment.--Section 106(d) of the Emergency Economic Stabilization Act of 2008 (12 U.S.C. 5216(d)) is amended by inserting ", and repayments of obligations arising under this Act," after "section 113".
Original wording
At the end, add the following:
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As printed
SA 1362. Mr. HATCH (for himself, Mrs. Lincoln, and Mr. Corker) submitted an amendment intended to be proposed by him to the bill S. 1023, to establish a non-profit corporation to communicate United States entry policies and otherwise promote leisure, business, and scholarly travel to the United States; which was ordered to lie on the table; as follows:
At the end, add the following:
SEC. 9. DEPOSIT OF TARP REPAYMENTS AND PROCEEDS INTO TREASURY TO REDUCE THE PUBLIC DEBT.
(a) Short Title.--This section may be cited as the “Stop Tarp Asset Recycling Act of 2009” or the “STAR Act of 2009”.
(b) Amendment to TARP Authorization.--Section 115(a)(3) of the Emergency Economic Stabilization Act of 2008 (12 U.S.C. 5225(a)(3)) is amended by striking “outstanding at any one time” and inserting “, in the aggregate (or such higher amount, in the aggregate, as has been obligated or expended under this Act as of the date of enactment of the STAR Act of 2009)”.
(c) Deposit of Funds Into Treasury.--
(1) In general.--On and after the date of enactment of this Act, all repayments of obligations arising under the Emergency Economic Stabilization Act of 2008 (Public Law 110-343), and all proceeds from the sale of assets acquired by the Federal Government under that Act, shall be paid into the general fund of the Treasury for reduction of the public debt, in accordance with section 106(d) of that Act (12 U.S.C. 5216(d)), as amended by this section.
(2) Conforming amendment.--Section 106(d) of the Emergency Economic Stabilization Act of 2008 (12 U.S.C. 5216(d)) is amended by inserting “, and repayments of obligations arising under this Act,” after “section 113”.
Legislative Activity
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Senate amendment submitted
June 22, 2009