SA 1016. Mr. VITTER submitted an amendment intended to be proposed to amendment SA 1018 submitted by Mr. Dodd (for himself and Mr. Shelby) to the bill S. 896, to prevent mortgage foreclosures and enhance mortgage credit availability; as follows:

At the appropriate place, insert the following:
SEC. __. REPAYMENT OF TARP FUNDS.
Section 111(g) of the Emergency Economic Stabilization Act of 2008 (12 U.S.C. 5221(g)) is amended--
(1) by striking ``Subject to'' and inserting the following:
``(1) REPAYMENT PERMITTED.--Subject to'';
(2) by inserting ``if, subsequent to such repayment, the TARP recipient is well capitalized (as determined by the appropriate Federal banking agency having supervisory authority over the TARP recipient)'' after ``waiting period,'';
(3) by striking ``, and when such assistance is repaid, the Secretary shall liquidate warrants associated with such assistance at the current market price''; and
(4) by adding at the end the following:
``(2) NO REPAYMENT PRECONDITION FOR WARRANTS.--A TARP recipient that exercises the repayment authority under paragraph (1) shall not be required to repurchase warrants from the Federal Government as a condition of repayment of assistance provided under the TARP. The Secretary shall, at the request of the relevant TARP recipient, repay the proceeds of warrants repurchased before the date of enactment of this paragraph.''.


(As printed in the Congressional Record for the Senate on Apr 30, 2009.)