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[Congressional Bills 111th Congress]
[From the U.S. Government Publishing Office]
[S. 3526 Introduced in Senate (IS)]

111th CONGRESS
  2d Session
                                S. 3526

To require the GAO to evaluate the propriety of assistance provided to 
General Motors Corporation under the Troubled Asset Relief Program, and 
                          for other purposes.

_______________________________________________________________________

                   IN THE SENATE OF THE UNITED STATES

                             June 23, 2010

  Mr. Wicker introduced the following bill; which was read twice and 
referred to the Committee on Homeland Security and Governmental Affairs

_______________________________________________________________________

                                 A BILL

 
To require the GAO to evaluate the propriety of assistance provided to 
General Motors Corporation under the Troubled Asset Relief Program, and 
                          for other purposes.

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

SECTION 1. PROVISION OF INFORMATION TO THE GAO.

    (a) In General.--Not later than 90 days after the date of enactment 
of this Act, the Presidential Task Force on the Auto Industry 
(hereafter in this Act referred to as the ``Task Force'') shall submit 
to the Government Accountability Office all information in its 
possession relating to certain specific communications involving 
General Motors Corporation (hereafter in this Act referred to as 
``General Motors''), relating to the role of the Task Force in 
negotiating, reviewing, approving, or any other aspect of--
            (1) the plans for reorganization or restructuring in 
        connection with bankruptcy proceedings that commenced during 
        2009 under chapter 11, of title 11, United States Code 
        (hereafter in this Act referred to as ``bankruptcy 
        proceedings''), with respect to General Motors;
            (2) levels of and reductions in--
                    (A) the employee and retiree benefits of current 
                and former General Motors salaried employees, union 
                employees, and non-union hourly employees; and
                    (B) retiree benefits for former employees of the 
                Delphi Corporation (hereafter in this Act referred to 
                as ``Delphi''), including its salaried retirees, non-
                union hourly retirees, and union retirees;
            (3) the determination of General Motors not to alter any 
        pre-existing pension obligations (including Delphi pension 
        obligations) during bankruptcy proceedings;
            (4) the determination of General Motors to expand pension 
        benefits for former unionized Delphi employees that did not 
        have a pre-existing pension agreement with General Motors; and
            (5) actual payments made by the United States to General 
        Motors, including any schedule of payments, any formal or 
        informal terms and conditions governing such payments, and the 
        amount of interest in ownership the Federal Government would 
        acquire of General Motors and any terms or conditions as such.
    (b) Provision of Information to GAO.--Notwithstanding any other 
provision of law, not later than 90 days after the date of enactment of 
this Act--
            (1) the National Archives and Records Administration shall 
        submit to the Government Accountability Office all information 
        in its possession related to certain specific communications 
        that occurred between October 3, 2008, and January 20, 2010, 
        related to the role of the Department of the Treasury in 
        negotiating, reviewing, approving, determining, or in any other 
        aspect relating to General Motors qualifying for Federal 
        financial assistance under the Troubled Asset Relief Program, 
        including any schedule of payments, and any formal or informal 
        terms and conditions governing such payments; and
            (2) the Pension Benefit Guaranty Corporation shall submit 
        to the Government Accountability Office all information in its 
        possession related to certain specific communications that 
        occurred in 2009 relating to the role of that Office in 
        negotiating, reviewing, approving, determining, or in any other 
        aspect related to the decision to remove the liens held on the 
        overseas assets of Delphi.

SEC. 2. REPORT TO CONGRESS.

    (a) Audit Required.--The Government Accountability Office shall 
audit the specific communications required under section 1 and shall, 
not later than 1 year after the date of enactment of this Act, submit a 
report to the Senate and the House of Representatives containing its 
findings. The Government Accountability Office shall, in conducting 
such audit, consider any relevant and publically available bankruptcy 
records of General Motors and Delphi.
    (b) Considerations.--The audit under subsection (a) shall 
consider--
            (1) any decision made during General Motors bankruptcy 
        proceedings that appears to be quid pro quo and unduly 
        influenced by the receipt of Federal funds from the Troubled 
        Asset Relief Program;
            (2) any business decision that General Motors made during 
        bankruptcy proceedings that would be unlikely for a similar 
        for-profit business (that is not receiving Federal assistance 
        under the Troubled Asset Relief Program) to make;
            (3) any action or measure that any Federal Government 
        official took to persuade or force General Motors to take any 
        particular action or measure; and
            (4) whether the decision for the Pension Benefit Guarantee 
        Corporation to remove the liens held on the overseas assets of 
        Delphi was in the best interest of United States taxpayers.
                                 <all>
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