To amend the American Recovery and Reinvestment Act of 2009 and the Emergency Economic Stabilization Act of 2008 to consolidate certain CBO reporting requirements.

(This measure has not been amended since it was introduced. The summary of that version is repeated here.)

Amends the Jobs Accountability Act, in title XV of division A of the American Recovery and Reinvestment Act of 2009, to revise the deadline for comments by the Congressional Budget Office (CBO) and the Government Accountability Office (GAO) on information contained in specified quarterly reports to the appropriate agency by each recipient of federal recovery funds with respect to an estimate of the number of jobs created and retained by the expenditure or obligation of such funds on a project or activity.

Requires these comments on the quarterly reports in a year to be due 45 days after the report for the last quarter of the year is submitted. (Currently, such reports are due within 45 days after submission to the appropriate agency.)

Terminates the requirement of the CBO and GAO comments on January 1, 2016.

Amends the Emergency Economic Stabilization Act of 2008 to change from semiannual to annual the required reports to the President and Congress from the Office of Management and Budget (OMB) of specified information and estimates regarding the Troubled Asset Relief Program (TARP).

Terminates these TARP reporting requirements with the annual period on the last day of which all troubled assets acquired by the Secretary of the Treasury have been sold or transferred out of the ownership or control of the federal government.

[112th Congress Public Law 204]
[From the U.S. Government Publishing Office]



[[Page 126 STAT. 1485]]

Public Law 112-204
112th Congress

                                 An Act


 
  To amend the American Recovery and Reinvestment Act of 2009 and the 
Emergency Economic Stabilization Act of 2008 to consolidate certain CBO 
     reporting requirements. <<NOTE: Dec. 4, 2012 -  [H.R. 6570]>> 

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,
SECTION 1. CONSOLIDATION OF CERTAIN CBO REPORTING REQUIREMENTS 
                              RELATING TO ARRA AND TARP.

    (a) ARRA-Related Reports.--
            (1) In general.--Section 1512(e) of the American Recovery 
        and Reinvestment Act of 2009 (Public Law 111-5; 123 Stat. 288) 
        is amended by amending the second sentence to read as follows: 
        ``Such comments on all reports for calendar quarters in a year 
        shall be due 45 days after the report for the last calendar 
        quarter of the year is submitted.''.
            (2) Effective date.--The amendment made by paragraph (1) 
        shall apply to comments on reports submitted on or after October 
        1, 2012.
            (3) Repealer.--Effective on January 1, 2016, section 1512(e) 
        of the American Recovery and Reinvestment Act of 2009 is 
        repealed.

    (b) TARP-Related Reports.--
            (1) In general.--Section 202 of the Emergency Economic 
        Stabilization Act of 2008 (12 U.S.C. 5252) is amended--
                    (A) in subsection (a), by striking ``semiannually'' 
                and inserting ``annually''; and
                    (B) by adding at the end the following new 
                subsection:

    ``(e) Sunset.--Notwithstanding the previous provisions of this 
section, the reporting and comment requirements under this section shall 
terminate with the annual period on the last day of which all troubled 
assets acquired by the Secretary under section 101 have been sold or 
transferred out of the ownership or control of the Federal 
Government.''.

[[Page 126 STAT. 1486]]

            (2) Effective date.--The amendments <<NOTE: 12 USC 5252 
        note.>>  made by this subsection shall take effect the first day 
        after the date of enactment of this Act.

    Approved December 4, 2012.

LEGISLATIVE HISTORY--H.R. 6570:
---------------------------------------------------------------------------

CONGRESSIONAL RECORD, Vol. 158 (2012):
            Nov. 14, considered and passed House.
            Nov. 15, considered and passed Senate.

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