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HR 7119 110th Congress House

To impose certain limits on the exercise by the Secretary of the Treasury of certain actions under any other Act which authorizes the Secretary to purchase troubled assets, and for other purposes.

Introduced: October 2, 2008 See on congress.gov
Finance and Financial Sector Bank accounts, deposits, capitalCorporate finance and managementFinancial crises and stabilizationFinancial services and investments
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Government lending and loan guaranteesWages and earnings
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This bill died when the 110th Congress ended
It never became law before the 110th Congress (2007–2008) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Sep 27, 2008
Sponsor introductory remarks on measure. (CR E2083)
Sep 26, 2008
Referred to the House Committee on Financial Services.
Sep 26, 2008
Introduced in House
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 Latest action September 27, 2008

Sponsor introductory remarks on measure. (CR E2083)

 Plain-English summary Congressional Research Service

Prohibits the use of any funds made available under any Act authorizing the Secretary of the Treasury to purchase troubled assets to provide income for any senior officer of any company, entity, or partnership that receives credit or other direct assistance under such Act.

Authorizes the Secretary to terminate the employment of any such senior officer who receives credit or direct assistance under any such Act.

Defines "senior officer" as any chairman of the board, chief executive officer, chief financial officer, managing partner, or any individual deemed by the Secretary as having primary management or financial authority over the company, entity, or partnership before the receipt of credit or direct assistance under any such Act.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Republican 1
R
Diaz-Balart, Mario
Florida · Oct 2, 2008
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APA
U.S. Congress. (2026). H.R. 7119: To impose certain limits on the exercise by the Secretary of the Treasury of certain actions under any other Act which authorizes the Secretary to purchase troubled assets, and for other purposes.. 110th Congress. Open America. https://openamerica.io/bill/110-HR-7119/
MLA
"H.R. 7119: To impose certain limits on the exercise by the Secretary of the Treasury of certain actions under any other Act which authorizes the Secretary to purchase troubled assets, and for other purposes.." 110th Congress, 2026, Open America, https://openamerica.io/bill/110-HR-7119/.
Bluebook (legal)
H.R. 7119, 110th Cong. (2026), https://openamerica.io/bill/110-HR-7119/.
Markdown link
[H.R. 7119: To impose certain limits on the exercise by the Secretary of the Treasury of certain actions under any other Act which authorizes the Secretary to purchase troubled assets, and for other purposes.](https://openamerica.io/bill/110-HR-7119/)
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