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S. 1280 111th Congress Senate

TARP Recipient Ownership Trust Act of 2009

Official title: A bill to authorize the Secretary of the Treasury to delegate management authority over troubled assets purchased under the Troubled Asset Relief Program, to r… Show full official titleShow less

Official title: A bill to authorize the Secretary of the Treasury to delegate management authority over troubled assets purchased under the Troubled Asset Relief Program, to require the establishment of a trust to manage assets of certain designated TARP recipients, and for other purposes.

Introduced: July 22, 2009 See on congress.gov
Finance and Financial Sector Corporate finance and managementFinancial crises and stabilization
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This bill died when the 111th Congress ended
It never became law before the 111th Congress (2009–2010) 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
Jun 17, 2009
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text of measure as introduced: CR S6727-6728)
Jun 17, 2009
Sponsor introductory remarks on measure. (CR S6727)
Jun 17, 2009
Introduced in Senate
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 Latest action June 17, 2009

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text of measure as introduced: CR S6727-6728)

 Plain-English summary Congressional Research Service

TARP Recipient Ownership Trust Act of 2009 - Amends Emergency Economic Stabilization Act of 2008 (EESA) to authorize the Secretary of the Treasury to delegate to a private entity management authority with respect to any entity assisted under the Act.

Prohibits any expenditure of funds under the Troubled Asset Relief Program (TARP) until the Secretary transfers all voting, nonvoting, and common equity in any designated TARP recipient to a limited liability company, to be held and managed in trust on behalf of U.S. taxpayers.

Requires the trustees to liquidate the trust, including the assets it holds, by December 24, 2011, unless the trustees report to Congress that liquidation would not maximize profitability of the company and the return on investment to the taxpayer.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 3
All 3 Democratic 3
D
Klobuchar, Amy
Minnesota · Jul 22, 2009
 D
Bennet, Michael F.
Colorado · Jun 22, 2009
 D
Warner, Mark R.
Virginia · Jun 17, 2009
Cite this page click to expand
APA
U.S. Congress. (2026). S. 1280: TARP Recipient Ownership Trust Act of 2009. 111th Congress. Open America. https://openamerica.io/bill/111-S-1280/
MLA
"S. 1280: TARP Recipient Ownership Trust Act of 2009." 111th Congress, 2026, Open America, https://openamerica.io/bill/111-S-1280/.
Bluebook (legal)
S. 1280, 111th Cong. (2026), https://openamerica.io/bill/111-S-1280/.
Markdown link
[S. 1280: TARP Recipient Ownership Trust Act of 2009](https://openamerica.io/bill/111-S-1280/)
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