[Congressional Bills 111th Congress]
[From the U.S. Government Publishing Office]
[H.R. 6046 Introduced in House (IH)]
111th CONGRESS
2d Session
H. R. 6046
To require the GAO to evaluate the propriety of assistance provided to
General Motors Corporation under the Troubled Asset Relief Program, and
for other purposes.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
July 30, 2010
Mr. Lee of New York introduced the following bill; which was referred
to the Committee on Education and Labor, and in addition to the
Committees on Financial Services, the Judiciary, and Oversight and
Government Reform, for a period to be subsequently determined by the
Speaker, in each case for consideration of such provisions as fall
within the jurisdiction of the committee concerned
_______________________________________________________________________
A BILL
To require the GAO to evaluate the propriety of assistance provided to
General Motors Corporation under the Troubled Asset Relief Program, and
for other purposes.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. PROVISION OF INFORMATION TO THE GAO.
(a) In General.--Not later than 90 days after the date of enactment
of this Act, the Presidential Task Force on the Auto Industry
(hereafter in this Act referred to as the ``Task Force'') shall submit
to the Government Accountability Office all information in its
possession relating to certain specific communications involving
General Motors Corporation (hereafter in this Act referred to as
``General Motors''), relating to the role of the Task Force in
negotiating, reviewing, approving, or any other aspect of--
(1) the plans for reorganization or restructuring in
connection with bankruptcy proceedings that commenced during
2009 under chapter 11, of title 11, United States Code
(hereafter in this Act referred to as ``bankruptcy
proceedings''), with respect to General Motors;
(2) levels of and reductions in--
(A) the employee and retiree benefits of current
and former General Motors salaried employees, union
employees, and non-union hourly employees; and
(B) retiree benefits for former employees of the
Delphi Corporation (hereafter in this Act referred to
as ``Delphi''), including its salaried retirees, non-
union hourly retirees, and union retirees;
(3) the determination of General Motors not to alter any
pre-existing pension obligations (including Delphi pension
obligations) during bankruptcy proceedings;
(4) the determination of General Motors to expand pension
benefits for former unionized Delphi employees that did not
have a pre-existing pension agreement with General Motors; and
(5) actual payments made by the United States to General
Motors, including any schedule of payments, any formal or
informal terms and conditions governing such payments, and the
amount of interest in ownership the Federal Government would
acquire of General Motors and any terms or conditions as such.
(b) Provision of Information to GAO.--Notwithstanding any other
provision of law, not later than 90 days after the date of enactment of
this Act--
(1) the National Archives and Records Administration shall
submit to the Government Accountability Office all information
in its possession related to certain specific communications
that occurred between October 3, 2008, and January 20, 2010,
related to the role of the Department of the Treasury in
negotiating, reviewing, approving, determining, or in any other
aspect relating to General Motors qualifying for Federal
financial assistance under the Troubled Asset Relief Program,
including any schedule of payments, and any formal or informal
terms and conditions governing such payments; and
(2) the Pension Benefit Guaranty Corporation shall submit
to the Government Accountability Office all information in its
possession related to certain specific communications that
occurred in 2009 relating to the role of that Office in
negotiating, reviewing, approving, determining, or in any other
aspect related to the decision to remove the liens held on the
overseas assets of Delphi.
SEC. 2. REPORT TO CONGRESS.
(a) Audit Required.--The Government Accountability Office shall
audit the specific communications required under section 1 and shall,
not later than 1 year after the date of enactment of this Act, submit a
report to the Senate and the House of Representatives containing its
findings. The Government Accountability Office shall, in conducting
such audit, consider any relevant and publically available bankruptcy
records of General Motors and Delphi.
(b) Considerations.--The audit under subsection (a) shall
consider--
(1) any decision made during General Motors bankruptcy
proceedings that appears to be quid pro quo and unduly
influenced by the receipt of Federal funds from the Troubled
Asset Relief Program;
(2) any business decision that General Motors made during
bankruptcy proceedings that would be unlikely for a similar
for-profit business (that is not receiving Federal assistance
under the Troubled Asset Relief Program) to make;
(3) any action or measure that any Federal Government
official took to persuade or force General Motors to take any
particular action or measure; and
(4) whether the decision for the Pension Benefit Guarantee
Corporation to remove the liens held on the overseas assets of
Delphi was in the best interest of United States taxpayers.
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