S.Amdt. 988

SA 988. Mr. KYL submitted an amendment intended to be proposed by him to the bill S. 386, to improve enforcement of mortgage fraud, securities fraud, financial institution fraud, and other frauds related to federal assistance and relief programs, for the recovery of funds lost to these frauds, and for other purposes; which was ordered to lie on the table; as follows:

On page 26, after line 22, insert the following:

SEC. 5. LIMITATION ON AWARDS TO CERTAIN INTERVENORS.

Section 3730(d) of title 31, United States Code, is amended--

(1) in paragraph (1)--

(A) in the first sentence, by inserting “but in no event more than the greater of $10,000,000 or 300 percent of the expenses, fees, and costs awarded to such person under the fourth sentence of this paragraph” after “prosecution of the action”; and

(B) in the second sentence--

(i) by striking “Government Accounting Office” and inserting “Government Accountability Office”;

(ii) by inserting “but in no event more than the greater of $10,000,000 or 300 percent of the expenses, fees, and costs awarded to such person under the fourth sentence of this paragraph” after “advancing the case to litigation”; and

(2) in paragraph (2), by striking the second sentence and inserting “The amount, which shall be paid out of the proceeds of the action or settlement, shall be not less than 25 percent and not more than 30 percent of the amount of such proceeds, but in no event more than the greater of $10,000,000 or 300 percent of the expenses, fees, and costs awarded to such person under the third sentence of this paragraph”.