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S. 1723 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: September 29, 2009 See on congress.gov
Finance and Financial Sector Bank accounts, deposits, capitalBusiness investment and capitalCongressional oversightCorporate finance and management
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Financial crises and stabilizationFinancial services and investmentsHouse of RepresentativesLegislative rules and procedurePublic-private cooperationSecuritiesSenate
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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 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Sep 29, 2009
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text of measure as introduced: CR S9932-9933)
Sep 29, 2009
Introduced in Senate
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 Latest action September 29, 2009

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text of measure as introduced: CR S9932-9933)

 Plain-English summary Congressional Research Service

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

Prohibits any expenditure of TARP funds 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 and its assets by December 24, 2011, unless: (1) the trustees report to Congress that liquidation would not maximize profitability of the company and the return on investment to the taxpayer; and (2) Congress enacts into law a joint resolution disapproving the liquidation plan of the Secretary.

 Related & companion bills 1
  • HR 3594 TARP Recipient Ownership Trust Act of 2009
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 4
All 4 Democratic 3 Republican 1
R
Crapo, Mike
Idaho · Nov 3, 2009
 D
Bennet, Michael F.
Colorado · Sep 29, 2009
 D
Klobuchar, Amy
Minnesota · Sep 29, 2009
 D
Warner, Mark R.
Virginia · Sep 29, 2009
Cite this page click to expand
APA
U.S. Congress. (2026). S. 1723: TARP Recipient Ownership Trust Act of 2009. 111th Congress. Open America. https://openamerica.io/bill/111-S-1723/
MLA
"S. 1723: TARP Recipient Ownership Trust Act of 2009." 111th Congress, 2026, Open America, https://openamerica.io/bill/111-S-1723/.
Bluebook (legal)
S. 1723, 111th Cong. (2026), https://openamerica.io/bill/111-S-1723/.
Markdown link
[S. 1723: TARP Recipient Ownership Trust Act of 2009](https://openamerica.io/bill/111-S-1723/)
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