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To provide authority for the Federal Government to purchase and insure certain types of troubled assets for the purposes of providing stability to and preventing disruption in the economy... (Enrolled as Agreed to or Passed by Both House and Senate)
DIVISION A--EMERGENCY ECONOMIC STABILIZATION
SeC. 120. TERMINATION OF AUTHORITY.
(a) Termination- The authorities provided under sections 101(a), excluding section 101(a)(3),and 102 shall terminate on December 31, 2009.
(b) Extension Upon Certification- The Secretary, upon submission of a written certificationto Congress, may extend the authority provided under this Act to expire not later than2 years from the date of enactment of this Act. Such certification shall include a justification of why the extension is necessary to assist American families and stabilize financial markets, as well as the expected cost to the taxpayers for such an extension.
SeC. 136. TEMPORARY INCREASE IN DEPOSIT AND SHARE INSURANCE COVERAGE.
(a) Federal Deposit Insurance Act; Temporary Increase in Deposit Insurance-
(1) INCREASED AMOUNT- Effective only during the period beginning on the date of enactment of this Act and ending on December 31, 2009, section 11(a)(1)(E) of the Federal Deposit Insurance Act (12 U.S.C. 1821(a)(1)(E)) shall apply with `$250,000' substituted for `$100,000'.
(2) TEMPORARY INCREASE NOT TO BE CONSIDERED FOR SETTING ASSESSMENTS- The temporary increase in the standard maximum deposit insurance amount made under paragraph (1) shall not be taken into account by the Board of Directors of the Corporation for purposes of setting assessments
under section 7(b)(2) of the Federal Deposit Insurance Act (12 U.S.C. 1817(b)(2)).