Like Countable?

Install the App

house Bill H.R. 710

Public Retiree's Investment Act of 2009

bill Progress

  • Not enacted
    The President has not signed this bill
  • The senate has not voted
  • The house has not voted
      house Committees
      Committee on Financial Services
      Committee on Ways and Means
    IntroducedJanuary 27th, 2009

Bill Details

Official information provided by the Congressional Research Service. Learn more or make a suggestion.
The Congressional Research Service writes summaries for most legislation. These summaries are listed here. Countable will update some legislation with a revised summary, title or other key elements.

Suggest an update to this bill using our form.


Public Retiree's Investment Act of 2009

Official Title

To secure additional Tier I capital for the United States banking system from parties other than the Federal Government by providing authority to the Secretary of the Treasury to guaranty certain new preferred stock investments made by public pensions acting in a collective fashion, and for other purposes.


Public Retiree's Investment Act of 2009 - Authorizes the Secretary of the Treasury to guarantee eligible investments, or reguarantee a guarantee of eligible investments, by any public pension bank capital infusion fund mutually owned by state and local pension plans for the sole purpose of investing in preferred stocks of U.S. banking institutions. Requires each public pension plan with a mutual ownership interest in a capital infusion fund to be authorized by state law to establish, or participate in the formation of, a wholly owned mutual fund or a limited liability corporation, in the case of joint ownership with other public pension plans. Caps the maximum amount of investments by such such a capital infusion fund at $50 billion. Restricts eligible investments to those in the preferred stock of a qualifying financial institution under the Troubled Asset Relief Program (TARP) Capital Purchase Program established under the Emergency Economic Stabilization Act of 2008 (EESA).

    There are currently no opinions on this bill, be the first to add one!