HR 979 111th Congress House

STOP Act

Official title: To limit excessive and luxury expenses by recipients of assistance under the Emergency Economic Stabilization Act of 2008, and for other purposes.

Introduced: February 26, 2009 See on congress.gov

Finance and Financial Sector Bank accounts, deposits, capitalBanking and financial institutions regulationCorporate finance and managementEmployee benefits and pensions

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Financial crises and stabilizationWages and earnings

Everywhere this bill has been 2 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Feb 11, 2009

Referred to the House Committee on Financial Services.

Feb 11, 2009

Introduced in House

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Latest action February 11, 2009

Referred to the House Committee on Financial Services.

Plain-English summary Congressional Research Service

Stop Taxpayer-Offensive Practices Act of 2009 or the STOP Act - Amends the Emergency Economic Stabilization Act of 2008 (EESA) to instruct the Secretary of the Treasury to establish policies which prohibit excessive or luxury expenditures by any recipient of assistance under such Act in connection with: (1) entertainment or events; (2) office and facility renovations; (3) aviation or other transportation service; and (4) any other activity or event that is not a reasonable expenditure for any conference, staff development, performance incentive.

Requires the board of directors of each recipient to establish company-wide policies for limiting excessive or luxury expenditures that are not inconsistent with the policies established by the Secretary.

States that any policy established by the Secretary or any board of directors that is applicable to any recipient of EESA assistance remains effective while the assistance remains outstanding.

Bill text 1 version