S.Amdt. 1505
What it does: Adds SEC. ___. CONGRESSIONAL APPROVAL OF CERTAIN TARP EXPENDITURES wherever appropriate
Sen. Mike Johanns (R-NE)What it changes
1 change to S. 1390
Adds SEC. ___. CONGRESSIONAL APPROVAL OF CERTAIN TARP EXPENDITURES wherever appropriate
Adds a sectionInserted: SEC. ___. CONGRESSIONAL APPROVAL OF CERTAIN TARP EXPENDITURES.
Inserted: Notwithstanding any other provision of law, including any provision of the Emergency Economic Stabilization Act of 2008, no funds may be disbursed or otherwise obligated under that Act to any entity, if such disbursement would result in the Federal Government acquiring any ownership of the common or preferred stock of the entity receiving such funds, unless the Congress first approves of such disbursement or obligation.
The amendment doesn't say where this goes; the clerk decides.
Original wording
At the appropriate place, insert the following:
Read automatically from the Congressional Record. Check the original before relying on it.
As printed
SA 1505. Mr. JOHANNS submitted an amendment intended to be proposed by him to the bill S. 1390, to authorize appropriations for fiscal year 2010 for military activities of the Department of Defense, for military construction, and for defense activities of the Department of Energy, to prescribe military personnel strengths for such fiscal year, and for other purposes; which was ordered to lie on the table; as follows:
At the appropriate place, insert the following:
SEC. ___. CONGRESSIONAL APPROVAL OF CERTAIN TARP EXPENDITURES.
Notwithstanding any other provision of law, including any provision of the Emergency Economic Stabilization Act of 2008, no funds may be disbursed or otherwise obligated under that Act to any entity, if such disbursement would result in the Federal Government acquiring any ownership of the common or preferred stock of the entity receiving such funds, unless the Congress first approves of such disbursement or obligation.
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Senate amendment submitted
July 14, 2009