HR 1180
111th Congress
House
Finance and Financial Sector
Bank accounts, deposits, capital
Corporate finance and management
Financial crises and stabilization
Securities
To amend the Emergency Economic Stabilization Act of 2008 to prohibit the Secretary of the Treasury from receiving common stock or certain other voting stock under the Troubled Asset Relief Program, and for other purposes.
Introduced: February 25, 2009
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Feb 25, 2009
Referred to the House Committee on Financial Services.
Feb 25, 2009
Introduced in House
Plain-English summary
Amends the Emergency Economic Stabilization Act of 2008 (EESA) to prohibit the Secretary of the Treasury from: (1) making any purchase for which the Secretary receives control-diluting stock; or (2) converting into control-diluting stock any security received by the Secretary (other than a warrant).
Defines control-diluting stock as: (1) common stock of a financial institution; (2) any other voting stock of a financial institution other than voting stock whose voting power the Secretary agrees not to exercise; or (3) a warrant giving the Secretary the right to receive either of such stock.
What's happening now
Referred to the House Committee on Financial Services.
Committees of jurisdiction
1