IIB 

111TH CONGRESS 

1ST SESSION H. R. 3179 

IN THE SENATE OF THE UNITED STATES 

SEPTEMBER 16, 2009 

Received; read twice and referred to the Committee on Banking, Housing, and 

Urban Affairs 

AN ACT 

To amend the Emergency Economic Stabilization Act of 

2008 to require the Special Inspector General for the 

Troubled Asset Relief Program to include the effect of 

the Troubled Asset Relief Program on small businesses 

in the oversight, audits, and reports provided by the 

Special Inspector General, and for other purposes. 


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HR 3179 RFS 

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 ‘‘SIG TARP Small Business 

5 Awareness Act of 2009’’. 

6 SEC. 2. FINDINGS. 

7 The Congress finds as follows: 

8 (1) Small businesses are going to be the driving 

9 force behind revitalizing our economy. 

10 (2) Small financial institutions are a primary fi11 nancial resource for small businesses. 

12 (3) In a hearing of the Committee on Financial 

13 Services of the House of Representatives, witnesses 

14 testified that smaller financial institutions are hav15 ing difficulty receiving funds from the Troubled 

16 Asset Relief Program. 

17 (4) In a hearing of the Committee on Financial 

18 Services of the House of Representatives, witnesses 

19 also testified that small businesses are having trou20 ble receiving credit and financial products from 

21 banks and other financial institutions. 


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1 SEC. 3. DUTIES OF THE SPECIAL INSPECTOR GENERAL FOR 

2 THE TROUBLED ASSET RELIEF PROGRAM RE3 LATING TO SMALL FINANCIAL INSTITUTIONS 

4 AND BUSINESSES. 

5 (a) IN GENERAL.—Section 121(c) of the Emergency 

6 Economic Stabilization Act of 2008 (12 U.S.C. 5231(c)) 

7 is amended by adding at the end the following new para8 graph: 

9 ‘‘(5) EFFECTS OF PROGRAM ON SMALL FINAN10 CIAL INSTITUTIONS AND SMALL BUSINESSES.— 

11 ‘‘(A) SMALL FINANCIAL INSTITUTIONS.— 

12 In conducting audits and providing oversight of 

13 the Troubled Asset Relief Program in accord14 ance with this section, the Special Inspector 

15 General shall examine how smaller financial in16 stitutions are being affected by— 

17 ‘‘(i) expenditures under the Program 

18 (including the adequacy of financial assist19 ance provided to or on behalf of such 

20 smaller financial institutions); and 

21 ‘‘(ii) the considerations and deter22 minations of— 

23 ‘‘(I) the Secretary under this 

24 title; and 

25 ‘‘(II) the regulators of such 

26 smaller financial institutions, with reVerDate Nov 24 2008 00:31 Sep 17, 2009 Jkt 079200 PO 00000 Frm 00003 Fmt 6652 Sfmt 6201 E:\BILLS\H3179.RFS H3179

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1 spect to capital adequacy and troubled 

2 assets. 

3 ‘‘(B) SMALL BUSINESSES.—In conducting 

4 audits and providing oversight of the Troubled 

5 Asset Relief Program, the Special Inspector 

6 General shall examine the effects the provision 

7 of financial assistance under this title has had 

8 on small businesses, including both positive and 

9 negative effects and the extent of such effects 

10 on small businesses generally and by type and 

11 region. 

12 ‘‘(C) REPORTS.—Any report prepared by 

13 the Special Inspector General under this section 

14 shall include the results of the activities of the 

15 Special Inspector General under paragraphs (1) 

16 and (2).’’. 

17 (b) REPORT ON INCLUSION AND UTILIZATION OF

18 WOMEN AND MINORITIES.—Section 121(i) of the Emer19 gency Economic Stabilization Act of 2008 (12 U.S.C. 

20 5231(i)) is amended by adding at the end the following 

21 new paragraph: 

22 ‘‘(6) REPORT ON INCLUSION AND UTILIZATION

23 OF WOMEN AND MINORITIES.— 

24 ‘‘(A) IN GENERAL.—The Special Inspector 

25 General shall include in each quarterly report to 


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1 the Congress under paragraph (1) information 

2 on the activities of the Secretary and any finan3 cial institutions receiving financial assistance 

4 under this title to include and utilize minorities 

5 (as such term is defined in section 1204(c) of 

6 the Financial Institutions Reform, Recovery, 

7 and Enforcement Act of 1989 (12 U.S.C. 1811 

8 note)) and women, and minority- and women9 owned businesses (as such terms are defined in 

10 section 21A(r)(4) of the Federal Home Loan 

11 Bank Act), in any solicitation or contract, in12 cluding any contract to asset managers, 

13 servicers, property managers, and other service 

14 providers or expert consultants. 

15 ‘‘(B) INFORMATION TO BE INCLUDED.— 

16 The quarterly report shall include information 

17 on the levels of inclusion and utilization of 

18 women, minorities, and women- and minority19 owned businesses, including the type of such 

20 contracts or solicitations, the dollar amount of 

21 such contracts or solicitations, the total number 

22 of such contracts or solicitations, and any other 

23 information on the activities of the Secretary 

24 and any financial institutions receiving financial 

25 assistance under this title to increase the parVerDate Nov 24 2008 00:31 Sep 17, 2009 Jkt 079200 PO 00000 Frm 00005 Fmt 6652 Sfmt 6201 E:\BILLS\H3179.RFS H3179

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1 ticipation of women, minorities ,and women2 and minority-owned businesses including rec3 ommendations related to increasing such par4 ticipation.’’. 

Passed the House of Representatives September 15, 

2009. 

Attest: LORRAINE C. MILLER, 

Clerk. 


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