Pub. L. 111-240, tit. I, subtit. A, pt. III, sec. 1136 (as amended)

PROHIBITION ON USING TARP FUNDS OR TAX INCREASES.

Year: 2021Length: 176 wordsOfficial source
SEC. 1136. [15 U.S.C. 632 note] PROHIBITION ON USING TARP FUNDS OR TAX INCREASES. (a) In General.—Except as provided in subsection (b), nothing in section 1111, 1112, 1113, 1114, 1115, 1116, 1117, 1118, 1122, or 1131, or an amendment made by such sections, shall be construed to limit the ability of Congress to appropriate funds. (b) TARP Funds and Tax Increases.— (1) In general.—Any covered amounts may not be used to carry out section 1111, 1112, 1113, 1114, 1115, 1116, 1117, 1118, 1122, or 1131, or an amendment made by such sections. (2) Definition.—In this subsection, the term “covered amounts” means— (A) the amounts made available to the Secretary of the Treasury under title I of the Emergency Economic Stabilization Act of 2008 S.C. 5201 et seq.) to purchase (under section 101) or guarantee (under section 102) assets under that Act; and (B) any revenue increase attributable to any amendment to the Internal Revenue Code of 1986 made during the period beginning on the date of enactment of this Act and ending on December 31, 2010.
Cross-references to the US Code
15 U.S.C. 632 note
Pub. L. 111-240, tit. I, subtit. A, pt. III, sec. 1136 (as amended): PROHIBITION ON USING TARP FUNDS OR TAX INCREASES. | Justis AI