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Politics : Politics for Pros- moderated
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From: LindyBill3/9/2009 12:33:24 PM
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Senator Kerry's out to kill the hospitality business.

TARP Taxpayer Protection and Corporate Responsibility Act



· Any recipient of TARP funds shall not be allowed to host, sponsor, pay for conferences and events and pay for holiday or entertainment events for the year in which they receive TARP funds.



· A recipient may seek a waiver from the Secretary of Treasury for any event which the recipient believes is directly related to the operation of the business. The Secretary has thirty days to respond to a waiver request.



· Any violation will require the federal government to be reimbursed by the company's CEO for the cost of the event and there will a fine of $100,000 per violation. A recipient will have 30 days to reimburse the government and pay the fine. The fine increases $10,000 a day for each day after 30 days.

kerry.senate.gov
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