joint resolution Progress
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Committee on Financial ServicesIntroducedJanuary 15th, 2009
- house Committees
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Relating to the disapproval of obligations under the Emergency Economic Stabilization Act of 2008.
Disapproves the obligation of any amount to purchase troubled assets under the Emergency Economic Stabilization Act of 2008 exceeding those already obligated (namely, $250 billion, or upon presidential certification, $350 billion outstanding at any one time). Approves, however, an amount up to 30% of the amount exceeding such obligated amounts for use solely to provide assistance to specified smaller community depository institutions, including privately held and other C corporations, community development financial institutions, non-stock corporations, S-corporations, and mutually owned insured depository institutions.