IL HR0069

Illinois House of Representatives urges Congress to include provisions in the American Recovery and Reinvestment Act of 2009 and amendments to the Emergency Economic Stabilization Act prohibiting business entities receiving federal funds from conducting employee layoffs.

Proposed layoff prohibition would remain in effect until the Obama administration declares that the current recession has ended.

Resolution addresses concerns that some businesses receiving federal assistance have misused funds and laid off employees despite receiving government support.

Calls for greater transparency and accountability in how Treasury Department distributes and monitors the $700 billion in Troubled Asset Relief Program (TARP) funding.

Directs that copies of the resolution be sent to President Obama and all members of the Illinois Congressional delegation.