Special Inspector General for the Troubled Asset Relief Program Act of 2009
PL 111-15 (S.383), enacted 04/24/2009

123 STAT. 1603 
PUBLIC LAW 111–15—APR. 24, 2009 
Public Law 111–15 
111th Congress 
An Act 
To amend the Emergency Economic Stabilization Act of 2008 (division A of Public 
Law 110–343) to provide the Special Inspector General with additional authorities 
and responsibilities, 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. SHORT TITLE. 
This Act may be cited as the ‘‘Special Inspector General for 
the Troubled Asset Relief Program Act of 2009’’. 
SEC. 2. AUDIT AND INVESTIGATION AUTHORITIES. 
Section 121 of the Emergency Economic Stabilization Act of 
2008 (division A of Public Law 110–343) is amended— 
(1) in subsection (c), by adding at the end the following: 
‘‘(4)(A) Except as provided under subparagraph (B) and 
in addition to the duties specified in paragraphs (1), (2), and 
(3), the Special Inspector General shall have the authority 
to conduct, supervise, and coordinate an audit or investigation 
of any action taken under this title as the Special Inspector 
General determines appropriate. 
‘‘(B) Subparagraph (A) shall not apply to any action taken 
under section 115, 116, 117, or 125.’’; and 
(2) in subsection (d)— 
(A) in paragraph (2), by striking ‘‘subsection (c)(1)’’ 
and inserting ‘‘subsection (c)(1) and (4)’’; and 
(B) by adding at the end the following: 
‘‘(3) The Office of the Special Inspector General for the 
Troubled Asset Relief Program shall be treated as an office 
included under section 6(e)(3) of the Inspector General Act 
of 1978 (5 U.S.C. App.) relating to the exemption from the 
initial determination of eligibility by the Attorney General.’’. 
SEC. 3. PERSONNEL AUTHORITIES. 
Section 121(e) of the Emergency Economic Stabilization Act 
of 2008 (division A of Public Law 110–343) is amended— 
(1) in paragraph (1)— 
(A) by inserting ‘‘(A)’’ after ‘‘(1)’’; and 
(B) by adding at the end the following: 
‘‘(B)(i) Subject to clause (ii), the Special Inspector General may 
exercise the authorities of subsections (b) through (i) of section 
3161 of title 5, United States Code (without regard to subsection 
(a) of that section). 
12 USC 5231. 
Special Inspector 
General for the 
Troubled Asset 
Relief Program 
Act of 2009. 
12 USC 5201 
note. 
Apr. 24, 2009 
[S. 383] 
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123 STAT. 1604 
PUBLIC LAW 111–15—APR. 24, 2009 
‘‘(ii) In exercising the employment authorities under subsection 
(b) of section 3161 of title 5, United States Code, as provided 
under clause (i) of this subparagraph— 
‘‘(I) the Special Inspector General may not make any 
appointment on and after the date occurring 6 months after 
the date of enactment of the Special Inspector General for 
the Troubled Asset Relief Program Act of 2009; 
‘‘(II) paragraph (2) of that subsection (relating to periods 
of appointments) shall not apply; and 
‘‘(III) no period of appointment may exceed the date on 
which the Office of the Special Inspector General terminates 
under subsection (k).’’; and 
(2) by adding at the end the following: 
‘‘(5)(A) Except as provided under subparagraph (B), if an annu-
itant receiving an annuity from the Civil Service Retirement and 
Disability Fund becomes employed in a position within the Office 
of the Special Inspector General for the Troubled Asset Relief 
Program, his annuity shall continue. An annuitant so reemployed 
shall not be considered an employee for purposes of chapter 83 
or 84. 
‘‘(B) Subparagraph (A) shall apply to— 
‘‘(i) not more than 25 employees at any time as designated 
by the Special Inspector General; and 
‘‘(ii) pay periods beginning after the date of enactment 
of the Special Inspector General for the Troubled Asset Relief 
Program Act of 2009.’’. 
SEC. 4. RESPONSE TO AUDITS AND COOPERATION AND COORDINATION 
WITH OTHER ENTITIES. 
Section 121 of the Emergency Economic Stabilization Act of 
2008 (division A of Public Law 110–343) is amended— 
(1) by redesignating subsections (f), (g), and (h) as sub-
sections (i), (j), and (k), respectively; and 
(2) by inserting after subsection (e) the following: 
‘‘(f) CORRECTIVE RESPONSES TO AUDIT PROBLEMS.—The Sec-
retary shall— 
‘‘(1) take action to address deficiencies identified by a report 
or investigation of the Special Inspector General or other auditor 
engaged by the TARP; or 
‘‘(2) certify to appropriate committees of Congress that no action 
is necessary or appropriate. 
‘‘(g) COOPERATION AND COORDINATION WITH OTHER ENTITIES.— 
In carrying out the duties, responsibilities, and authorities of the 
Special Inspector General under this section, the Special Inspector 
General shall work with each of the following entities, with a 
view toward avoiding duplication of effort and ensuring comprehen-
sive oversight of the Troubled Asset Relief Program through effec-
tive cooperation and coordination: 
‘‘(1) The Inspector General of the Department of Treasury. 
‘‘(2) The Inspector General of the Federal Deposit Insurance 
Corporation. 
‘‘(3) The Inspector General of the Securities and Exchange 
Commission. 
‘‘(4) The Inspector General of the Federal Reserve Board. 
‘‘(5) The Inspector General of the Federal Housing Finance 
Board. 
Certification. 
12 USC 5231. 
Applicability. 
Deadline. 
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123 STAT. 1605 
PUBLIC LAW 111–15—APR. 24, 2009 
‘‘(6) The Inspector General of any other entity as appro-
priate. 
‘‘(h) COUNCIL OF THE INSPECTORS GENERAL ON INTEGRITY AND 
EFFICIENCY.—The Special Inspector General shall be a member 
of the Council of the Inspectors General on Integrity and Efficiency 
established under section 11 of the Inspector General Act of 1978 
(5 U.S.C. App.) until the date of termination of the Office of the 
Special Inspector General for the Troubled Asset Relief Program.’’. 
SEC. 5. REPORTING REQUIREMENTS. 
Section 121(i) of the Emergency Economic Stabilization Act 
of 2008 (division A of Public Law 110–343), as redesignated by 
this Act, is amended— 
(1) in paragraph (1), by striking the first sentence and 
inserting ‘‘Not later than 60 days after the confirmation of 
the Special Inspector General, and not later than 30 days 
following the end of each fiscal quarter, the Special Inspector 
General shall submit to the appropriate committees of Congress 
a report summarizing the activities of the Special Inspector 
General during that fiscal quarter.’’; 
(2) by redesignating paragraphs (2) and (3) as paragraphs 
(3) and (4), respectively; 
(3) by inserting after paragraph (1) the following: 
‘‘(2) Not later than September 1, 2009, the Special Inspector 
General shall submit a report to Congress assessing use of any 
funds, to the extent practical, received by a financial institution 
under the TARP and make the report available to the public, 
including posting the report on the home page of the website of 
the Special Inspector General within 24 hours after the submission 
of the report.’’; and 
(4) by adding at the end the following: 
‘‘(5) Except as provided under paragraph (3), all reports sub-
mitted under this subsection shall be available to the public.’’. 
SEC. 6. FUNDING OF THE OFFICE OF THE SPECIAL INSPECTOR GEN-
ERAL. 
Section 121(j)(1) of the Emergency Economic Stabilization Act 
of 2008 (division A of Public Law 110–343), as redesignated by 
this Act, is amended by inserting before the period at the end 
the following: ‘‘, not later than 7 days after the date of enactment 
of the Special Inspector General for the Troubled Asset Relief 
Program Act of 2009’’. 
SEC. 7. COUNCIL OF THE INSPECTORS GENERAL ON INTEGRITY AND 
EFFICIENCY. 
The Special Inspector General for Iraq Reconstruction and the 
Special Inspector General for Afghanistan Reconstruction shall be 
a members of the Council of the Inspectors General on Integrity 
and Efficiency established under section 11 of the Inspector General 
Act of 1978 (5 U.S.C. App.) until the date of termination of the 
Office of the Special Inspector General for Iraq Reconstruction 
5 USC app. 11 
note. 
Public 
information. 
Web posting. 
12 USC 5231. 
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123 STAT. 1606 
PUBLIC LAW 111–15—APR. 24, 2009 
LEGISLATIVE HISTORY—S. 383: 
HOUSE REPORTS: No. 111–41, Pt. 1 (Comm. on Financial Services). 
CONGRESSIONAL RECORD, Vol. 155 (2009): 
Feb. 4, considered and passed Senate. 
Mar. 25, considered and passed House. 
and the Office of the Special Inspector General for Afghanistan 
Reconstruction, respectively. 
Approved April 24, 2009. 
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