Troubled Asset Relief Program Inspector General Improvement Act

Summary

Troubled Asset Relief Program Inspector General Improvement Act - Amends the Emergency Economic Stabilization Act of 2008 with respect to the Special Inspector General (SIG) for the Troubled Asset Relief Program (TARP). Makes the first $50 million available to the SIG within three days after his or her nomination is first confirmed by the Senate. Directs the Secretary of the Treasury to: (1) take action to address deficiencies identified by the SIG or another auditor engaged by the TARP; or (2) certify to appropriate congressional committees that no action is necessary or appropriate. Revises the duties of the SIG to conduct, supervise, and coordinate audits and investigations to: (1) eliminate the limitation of the object of investigations to the purchase, management, and sale of troubled assets by the Secretary and the Secretary's management of the program to guarantee such assets; and (2) extend the objects of investigation to any activities of the Secretary in the expenditure or obligation of funds under such Act. Requires the SIG to report to specified congressional committees by July 1, 2009, on the use of any funds received by an financial institution under TARP. Authorizes the SIG to exercise specified federal civil service employment authorities. Prohibits the SIG from making any appointment after one year following the date of the first confirmation of his or her nomination as SIG.

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3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 20 November 2008

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• Introduced in Senate (PDF)

  Introduced in Senate · EN · 20 November 2008

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• Introduced in Senate

  summary · EN · 20 November 2008

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