Transaction Account Guarantee Program Act of 2010
Latest action. Referred to the House Committee on Financial Services.
Transaction Account Guarantee Program Act of 2010 - Amends the Federal Deposit Insurance Act to establish the Transaction Account Guarantee (TAG) Program to provide a full guarantee for funds held in noninterest-bearing transaction accounts of insured depository institutions participating in the TAG Program.
Requires an insured depository institution that wishes to participate in the TAG Program to submit an application to the Federal Deposit Insurance Corporation (FDIC). Allows an insured depository institution to opt-out of the TAG Program.
Directs the FDIC to levy assessments on those insured depository institutions participating in the TAG Program.
Written by analysts at the Congressional Research Service and published on Congress.gov, not by Civibrief. Summarized at the "Introduced in House" stage on June 10, 2010. It describes the bill, it is not the legal text.
Where is it in the process, and what happens next?
4 steps remain before this bill could become law.
The record's latest action, on June 10, 2010: Referred to the House Committee on Financial Services.
- Clearing the committees it was referred to, and being scheduled for a floor vote
- Passage by the House
- Passage by the Senate
- The President's signature. If the President vetoes it, two-thirds of both chambers must vote to override.
How likely is it to become law?
Civibrief does not forecast outcomes and this page has no opinion about this one. What the record supports is a base rate, which is a fact about the whole pile, not a prediction about this measure.
In the 111th Congress (2009-10), 383 of the 10,778 bills and joint resolutions introduced became law, about 3.6 percent. That count covers every measure at every stage, including the many that never left committee.
This one is not there yet: 4 steps are still outstanding, listed above.
Has anyone actually voted on it?
No. No roll call in this Congress cites this measure. That is the ordinary outcome: most measures never reach a recorded floor vote, and a committee ends most of them simply by not acting.
A vote is not the only thing that happens to a measure. Hearings, markups, and referrals are all recorded actions, and none of them is a vote of the full chamber.
Who is behind it?
Jim Marshall (D-GA) introduced it on June 10, 2010. No cosponsors are recorded.
Cosponsoring is a formal signature on the text. It is not a commitment to vote for the measure, it does not bind anyone's party, and a long list of cosponsors is a measure of attention rather than of prospects.
How long has it been in play?
It was introduced on June 10, 2010, 5984 days ago. The most recent recorded action was 5984 days ago, on June 10, 2010.
Measures do not carry over. Anything the 111th Congress has not finished by January 3, 2011 dies when the term ends, and has to be introduced again from the start in the next Congress.
Every answer above is assembled from this measure's own record on Congress.gov and from published counts of what Congress has passed before. Civibrief does not predict outcomes and takes no position on any measure.
Vote history
- HouseIn committee, no floor vote yet
- SenateAwaits House passage
- PresidentAwaits both chambers