Page:Emergency Economic Stabilization Act of 2008.djvu/3

 O:LiYOLiYO08C04.xml 3 TITLE Ill--TAX PROVISIONS Sec. 301. Gain or loss from sale or exchange of certain preferred stock. Sec. 302. Special rules fbr tax treatment of executive compensation of employ- ers participating' in the troubled assets relief program. See. 303. Extension of exclusion of income from discharge of qualified principal residence indebtedness. 1 SEC. 2. PURPOSES. 2 The purposes of' this Act are-- 3 (1) to immediately provide authority and facili- 4 ties that the Secretary of the Treasury can use to 5 restore liquidity and stability to the financial system 6 of the United States; and 7 (2) to ensure that such authority and such fa- 8 cilities are used in a manner that- 9 (A) protects home values, college fhnds, re- 10 tirement accounts, and life savings; 11 (B) preserves homeownership and pro- 12 motes jobs and economic growth; 13 (C) maximizes overall returns to the tax- 14 payers of the United States; and 15 (D) provides public accountability for the 16 exercise of such authority. 17 18 19 20 21 22 SEC. 3. DEFINITIONS. For purposes of' this Act, shall apply: (1) kPPROPRIATE the following definitions COMMITTEES OF CON- GRESS.--The term "appropriate committees of Con- gTeSS" Illcans--

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