I 

111TH CONGRESS 

1ST SESSION H. R. 979 

To limit excessive and luxury expenses by recipients of assistance under 

the Emergency Economic Stabilization Act of 2008, and for other purposes. 

IN THE HOUSE OF REPRESENTATIVES 

FEBRUARY 11, 2009 

Mr. HARE (for himself, Mr. ARCURI, Mr. KISSELL, Ms. GIFFORDS, Mr. 

SPACE, Mr. BOCCIERI, Mr. MASSA, Mr. LIPINSKI, Mrs. KIRKPATRICK of 

Arizona, Ms. PINGREE of Maine, and Mr. TONKO) introduced the following bill; which was referred to the Committee on Financial Services 

A BILL 

To limit excessive and luxury expenses by recipients of assistance under the Emergency Economic Stabilization Act 

of 2008, and for other purposes. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Stop Taxpayer-Offen5 sive Practices Act of 2009’’ or the ‘‘STOP Act’’. 


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1 SEC. 2. LIMITS ON EXCESSIVE AND LUXURY EXPENSES BY 

2 RECIPIENTS OF ASSISTANCE UNDER TARP. 

3 (a) IN GENERAL.—Title I of the Emergency Eco4 nomic Stabilization Act of 2008 (12 U.S.C. 5211 et seq.) 

5 is amended by adding at the end the following new section: 

6 ‘‘SEC. 137. LIMITATION ON EXCESSIVE AND LUXURY EX7 PENSES BY RECIPIENTS OF ASSISTANCE. 

8 ‘‘(a) POLICIES ESTABLISHED BY SECRETARY.—The 

9 Secretary shall establish policies regarding excessive or 

10 luxury expenditures, as identified by the Secretary, which 

11 prohibit excessive expenditures by any recipient of assist12 ance under this title on— 

13 ‘‘(1) entertainment or events; 

14 ‘‘(2) office and facility renovations; 

15 ‘‘(3) any aviation or other transportation serv16 ice; and 

17 ‘‘(4) any other activity or event that is not a 

18 reasonable expenditure for any conference, staff de19 velopment, performance incentive, or other similar 

20 activity or event conducted in the normal course of 

21 the business operations of the recipient. 

22 ‘‘(b) ACTION BY RECIPIENT.—The board of directors 

23 of each recipient of assistance under this title (or any 

24 other person or entity in whom the management of the 

25 recipient is vested) shall establish company-wide policies 

26 for limiting excessive or luxury expenditures by the recipiVerDate Nov 24 2008 21:40 Feb 12, 2009 Jkt 079200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6201 E:\BILLS\H979.IH H979

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1 ent that are not inconsistent with the policies established 

2 by the Secretary under subsection (a). 

3 ‘‘(c) EFFECTIVE PERIOD.—Any policy established by 

4 the Secretary or any board of directors that is applicable 

5 under this section to any recipient of assistance under this 

6 title shall remain effective for such recipient while any 

7 such assistance remains outstanding.’’. 

8 (b) CLERICAL AMENDMENT.—The table of contents 

9 for the Emergency Economic Stabilization Act of 2008 is 

10 amended by inserting after the item relating to section 

11 136 the following new item: 

‘‘137. Limitation on excessive and luxury expenses by recipients of assistance.’’. 

Æ 


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