To amend the American Recovery and Reinvestment Act of 2009 and the Emergency Economic Stabilization Act of 2008 to consolidate certain CBO reporting requirements.

Bill: 112-hr-6570
Sponsor: Rep. Garrett, Scott [R-NJ-5]
Introduced: 2012-10-12 in the House
Policy area: Economics and Public Finance
Subjects: Accounting and auditing
Bank accounts, deposits, capital
Congressional oversight
Economic performance and conditions
Financial crises and stabilization
Government information and archives

Summary:
action_date: 2012-10-12
text: 
Amends the Jobs Accountability Act, in title XV of division A of the American Recovery and Reinvestment Act of 2009, to revise the deadline for comments by the Congressional Budget Office (CBO) and the Government Accountability Office (GAO) on information contained in specified quarterly reports to the appropriate agency by each recipient of federal recovery funds with respect to an estimate of the number of jobs created and retained by the expenditure or obligation of such funds on a project or activity.
 
Requires these comments on the quarterly reports in a year to be due 45 days after the report for the last quarter of the year is submitted. (Currently, such reports are due within 45 days after submission to the appropriate agency.)
 
Terminates the requirement of the CBO and GAO comments on January 1, 2016.
 
Amends the Emergency Economic Stabilization Act of 2008 to change from semiannual to annual the required reports to the President and Congress from the Office of Management and Budget (OMB) of specified information and estimates regarding the Troubled Asset Relief Program (TARP).
 
Terminates these TARP reporting requirements with the annual period on the last day of which all troubled assets acquired by the Secretary of the Treasury have been sold or transferred out of the ownership or control of the federal government. 

action_date: 2012-11-14
text: 

(This measure has not been amended since it was introduced. The summary of that version is repeated here.)

)

 
Amends the Jobs Accountability Act, in title XV of division A of the American Recovery and Reinvestment Act of 2009, to revise the deadline for comments by the Congressional Budget Office (CBO) and the Government Accountability Office (GAO) on information contained in specified quarterly reports to the appropriate agency by each recipient of federal recovery funds with respect to an estimate of the number of jobs created and retained by the expenditure or obligation of such funds on a project or activity.
 
Requires these comments on the quarterly reports in a year to be due 45 days after the report for the last quarter of the year is submitted. (Currently, such reports are due within 45 days after submission to the appropriate agency.)
 
Terminates the requirement of the CBO and GAO comments on January 1, 2016.
 
Amends the Emergency Economic Stabilization Act of 2008 to change from semiannual to annual the required reports to the President and Congress from the Office of Management and Budget (OMB) of specified information and estimates regarding the Troubled Asset Relief Program (TARP).
 
Terminates these TARP reporting requirements with the annual period on the last day of which all troubled assets acquired by the Secretary of the Treasury have been sold or transferred out of the ownership or control of the federal government. 

action_date: 2012-11-15
text: 

(This measure has not been amended since it was introduced. The summary of that version is repeated here.)

 
Amends the Jobs Accountability Act, in title XV of division A of the American Recovery and Reinvestment Act of 2009, to revise the deadline for comments by the Congressional Budget Office (CBO) and the Government Accountability Office (GAO) on information contained in specified quarterly reports to the appropriate agency by each recipient of federal recovery funds with respect to an estimate of the number of jobs created and retained by the expenditure or obligation of such funds on a project or activity.
 
Requires these comments on the quarterly reports in a year to be due 45 days after the report for the last quarter of the year is submitted. (Currently, such reports are due within 45 days after submission to the appropriate agency.)
 
Terminates the requirement of the CBO and GAO comments on January 1, 2016.
 
Amends the Emergency Economic Stabilization Act of 2008 to change from semiannual to annual the required reports to the President and Congress from the Office of Management and Budget (OMB) of specified information and estimates regarding the Troubled Asset Relief Program (TARP).
 
Terminates these TARP reporting requirements with the annual period on the last day of which all troubled assets acquired by the Secretary of the Treasury have been sold or transferred out of the ownership or control of the federal government. 

action_date: 2012-12-04
text: 

(This measure has not been amended since it was introduced. The summary of that version is repeated here.)

 
Amends the Jobs Accountability Act, in title XV of division A of the American Recovery and Reinvestment Act of 2009, to revise the deadline for comments by the Congressional Budget Office (CBO) and the Government Accountability Office (GAO) on information contained in specified quarterly reports to the appropriate agency by each recipient of federal recovery funds with respect to an estimate of the number of jobs created and retained by the expenditure or obligation of such funds on a project or activity.
 
Requires these comments on the quarterly reports in a year to be due 45 days after the report for the last quarter of the year is submitted. (Currently, such reports are due within 45 days after submission to the appropriate agency.)
 
Terminates the requirement of the CBO and GAO comments on January 1, 2016.
 
Amends the Emergency Economic Stabilization Act of 2008 to change from semiannual to annual the required reports to the President and Congress from the Office of Management and Budget (OMB) of specified information and estimates regarding the Troubled Asset Relief Program (TARP).
 
Terminates these TARP reporting requirements with the annual period on the last day of which all troubled assets acquired by the Secretary of the Treasury have been sold or transferred out of the ownership or control of the federal government. 


Legislative actions:
action_date: 2012-12-04
text: Became Public Law No: 112-204.
action_date: 2012-12-04
text: Became Public Law No: 112-204.
action_date: 2012-12-04
text: Signed by President.
action_date: 2012-12-04
text: Signed by President.
action_date: 2012-11-28
text: Presented to President.
action_date: 2012-11-28
text: Presented to President.
action_date: 2012-11-16
text: Message on Senate action sent to the House.
action_date: 2012-11-15
text: Received in the Senate, read twice, considered, read the third time, and passed without amendment by Unanimous Consent. (consideration: CR S6870)
action_date: 2012-11-15
text: Passed/agreed to in Senate: Received in the Senate, read twice, considered, read the third time, and passed without amendment by Unanimous Consent.(consideration: CR S6870)
action_date: 2012-11-14
text: Motion to reconsider laid on the table Agreed to without objection.
action_date: 2012-11-14
text: On motion to suspend the rules and pass the bill Agreed to by voice vote. (text: CR H6351-6352)
action_date: 2012-11-14
text: Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by voice vote.(text: CR H6351-6352)
action_date: 2012-11-14
text: DEBATE - The House proceeded with forty minutes of debate on H.R. 6570.
action_date: 2012-11-14
text: Considered under suspension of the rules. (consideration: CR H6351-6352)
action_date: 2012-11-14
text: Mr. Garrett moved to suspend the rules and pass the bill.
action_date: 2012-10-12
text: Referred to the Committee on Financial Services, and in addition to the Committees on Education and the Workforce, and the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2012-10-12
text: Referred to the Committee on Financial Services, and in addition to the Committees on Education and the Workforce, and the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2012-10-12
text: Referred to the Committee on Financial Services, and in addition to the Committees on Education and the Workforce, and the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2012-10-12
text: Introduced in House
action_date: 2012-10-12
text: Introduced in House

Enacted as: number: 112-204