H.R. 1761 · 111th Congress
Responsible Use of Taxpayer Help Act
- Stage
- In committee
- Sponsor
- Dale Kildee
- Introduced
- 2009-03-26
- Latest action
- 2009-03-26 · Introduced in House
Summary
Responsible Use of Taxpayer Help Act - Amends the Emergency Economic Stabilization Act of 2008 (EESA) to prohibit a financial institution from using any assistance under the Troubled Asset Relief Program (TARP) to: (1) purchase or invest in any foreign asset or business; (2) transfer money to, or invest in, a foreign subsidiary of the financial institution; (3) pay any type of compensation to an employee of the financial institution unless such employee is a U.S. citizen or lawful permanent resident; or (4) make any other purchase, payment, transfer, or investment, the primary effect of which is to benefit a foreign entity.