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HR 467 111th Congress House Finance and Financial Sector Bank accounts, deposits, capital Bankruptcy Financial crises and stabilization Financial services and investments Intergovernmental relations Securities State and local finance

Equitable Treatment of State and Local Governments Act of 2009

Introduced: January 13, 2009 See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jan 13, 2009
Referred to the House Committee on Financial Services.
Jan 13, 2009
Introduced in House
 Plain-English summary Congressional Research Service

Equitable Treatment of State and Local Governments Act of 2009 - Amends the Emergency Economic Stabilization Act of 2008 (EESA) to direct the Secretary of the Treasury to purchase at face value debt instruments issued by Lehman Brothers Holdings Inc. which: (1) were held as of September 15, 2008, by any state or local government, or any other public entity or instrumentality established under state law; (2) have been held by such entity continuously since such date; and (3) are subject to bankruptcy proceedings filed on September 15, 2008, by Lehman Brothers Holdings Inc.

Declares that the Secretary: (1) shall be substituted as a creditor in any bankruptcy proceeding for any state or local government, or any other public entity or instrumentality established under state law from which the Secretary purchases a debt instrument; and (2) has the same standing in such proceedings with respect to other creditors as the state or local government or public entity for which the Secretary is substituted.

What's happening now January 13, 2009

Referred to the House Committee on Financial Services.

 Committees of jurisdiction 1
 Cosponsors 2
All 2 Democratic 2