Page:United States Statutes at Large Volume 124.djvu/2159

124 STAT. 2133 PUBLIC LAW 111–203—JULY 21, 2010 entities, as, in the judgment of the Secretary, are necessary or proper to effectuate the purposes of this title, to prevent circumven- tion or evasion of this title, or to facilitate compliance with this title. SEC. 1210. EVALUATION AND REPORTS TO CONGRESS. For each fiscal year in which a program or project is carried out under this title, the Secretary shall submit a report to the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Represent- atives containing a description of the activities funded, amounts distributed, and measurable results, as appropriate and available. TITLE XIII—PAY IT BACK ACT SEC. 1301. SHORT TITLE. This title may be cited as the ‘‘Pay It Back Act’’. SEC. 1302. AMENDMENT TO REDUCE TARP AUTHORIZATION. Section 115(a) of the Emergency Economic Stabilization Act of 2008 (12 U.S.C. 5225(a)) is amended— (1) in paragraph (3)— (A) by striking ‘‘, $700,000,000,000, as such amount is reduced by $1,259,000,000, as such amount is reduced by $1,244,000,000’’ and inserting ‘‘$475,000,000,000’’; and (B) by striking ‘‘outstanding at any one time’’; and (2) by adding at the end the following: ‘‘(4) For purposes of this subsection, the amount of authority considered to be exercised by the Secretary shall not be reduced by— ‘‘(A) any amounts received by the Secretary before, on, or after the date of enactment of the Pay It Back Act from repayment of the principal of financial assistance by an entity that has received financial assistance under the TARP or any other program enacted by the Secretary under the authorities granted to the Secretary under this Act; ‘‘(B) any amounts committed for any guarantees pursu- ant to the TARP that became or become uncommitted; or ‘‘(C) any losses realized by the Secretary. ‘‘(5) No authority under this Act may be used to incur any obligation for a program or initiative that was not initiated prior to June 25, 2010.’’. SEC. 1303. REPORT. Section 106 of the Emergency Economic Stabilization Act of 2008 (12 U.S.C. 5216) is amended by inserting at the end the following: ‘‘(f) REPORT.—The Secretary of the Treasury shall report to Congress every 6 months on amounts received and transferred to the general fund under subsection (d).’’. 12 USC 5201 note. Pay It Back Act. 12 USC 5628.