II
110th CONGRESS
2d Session
S. 3697
IN THE SENATE OF THE UNITED STATES
November 19, 2008
Mr. Inhofe introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs
A BILL
To amend the Emergency Economic Stabilization Act to require approval by the Congress for certain expenditures for the Troubled Asset Relief Program.
Approval required for TARP obligations
Section 115 of the Emergency Economic Stabilization Act of 2008 (division A of Public Law 110–343) is amended—
in subsection (a)(3)—
by striking unless there is enacted,
within 15 calendar days of
and inserting until there is enacted,
not later than 15 calendar days after
; and
by striking
, effective upon the expiration of such 15-day period,
;
and
in subsection (c)—
in the subsection
heading, by striking Disapproval
and inserting
Approval
;
in paragraph (1),
by striking disapproving
and inserting
approving
;
in paragraph
(2)(C), by striking disapproval
and inserting
approval
; and
in paragraph
(2)(D), by striking disapproves
and inserting
approves
.