PlainBillCongress, translated.Legislation. Context. Public interest.Referred to the House Committee on Financial Services.
Congressional Research Service
Version 00 · Introduced in House · Oct 8, 2009
Main Street TARP Act of 2009 - Directs the Secretary of the Treasury, using authority to purchase troubled assets under the Troubled Asset Relief Program (TARP) of the Emergency Economic Stabilization Act of 2008 (EESA), to transfer $1 billion to the Secretary of Housing and Urban Development (HUD) for the Secretary to credit to the Housing Trust Fund.
Revises requirements for the use of allocations to states from the Housing Trust Fund for low-income rental housing. Requires that all rental housing dwelling units be subject to legally binding commitments that ensure that the contribution toward rent by a resident family shall not exceed 30% of the family's adjusted income.
Requires the HUD Secretary to credit certain amounts from the Housing Trust Fund to the Emergency Homeowners' Relief Fund (which the Secretary shall establish under the Emergency Housing Act of 1975) for emergency mortgage assistance.
Showing the opening paragraphs of the official summary.
Amends the Emergency Housing Act of 1975 to: (1) increase the maximum aggregate amount of insured emergency mortgage loans and advances; and (2) extend through FY2011 the program for insured loans and emergency mortgage relief payments made under the Act.
Amends EESA to reduce the TARP authorization limit in order to offset the costs of loans, advances, insurance, and appropriations authorized under this Act.
People & committees
Rep. Frank, Barney [D-MA-4] · D–MA
Legislative record
A procedural vote is different from passage. Passage in one chamber does not establish enactment. Explore the glossary.
Referred to the House Committee on Financial Services.
Introduced in House
Introduced in House
Primary sources
Text links open the official source. We currently store references to these documents.
No related bills are listed in this snapshot. This does not establish whether the proposal has appeared in earlier Congresses.
Source last updated: Aug 14, 2025. Consult Congress.gov for the current record.
AI Conversation Starters
Choose a perspective, copy a prompt, and paste it into your preferred AI. Each prompt includes the bill version and available official source links, and asks for counterarguments as well as supporting evidence.
Analyze H.R.3766 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.
Examine H.R.3766 through a progressive lens, focusing on fairness, access, economic inequality, and effects on vulnerable communities. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and distinguish stated goals from demonstrated outcomes.
Examine H.R.3766 through a conservative lens, focusing on fiscal responsibility, institutional stability, federalism, and the scope of government. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and any provisions that challenge this perspective.
Examine H.R.3766 through a civil-liberties and limited-government lens. Consider individual rights, privacy, voluntary choice, accountability, and government power. Explain tradeoffs, possible safeguards, and the strongest counterarguments without assuming the proposal is beneficial or harmful.