Sec. 190502. Transparency of financial assistance
298 words·~1 min read·
/bill/116/hr/6800/eh/section-190502A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Not later than 72 hours after issuance of financial assistance by the Secretary of the Treasury pursuant to section 4112(a) of the Coronavirus Aid, Relief, and Economic Security Act ( Public Law 116–136 ), the Secretary shall publish on the website of the Department of the Treasury and shall submit to the congressional committees of jurisdiction— a plain-language description of the financial assistance, including the date of application, date of application approval, and identity of the recipient of financial assistance; the amount of the financial assistance; and a copy of any contract or assurances, if applicable, and other relevant documentation regarding the financial assistance.
Notwithstanding any other provision of law, the Secretary may redact, from a disclosure under subsection (a), any trade secret other than the amount of or conditions attached to the issuance of financial assistance. In this section: The term congressional committees of jurisdiction means the Committee on Transportation and Infrastructure and the Committee on Financial Services of the House of Representatives and the Committee on Commerce, Science, and Transportation and the Committee on Banking, Housing, and Urban Affairs of the Senate.
The term trade secret means any financial or business information provided by the recipient of financial assistance under section 4112(a) of the Coronavirus Aid, Relief, and Economic Security Act ( Public Law 116–136 ), if— such recipient has taken reasonable measures to keep such information secret; and the information derives independent economic value, actual or potential, from not being generally known to, and not being readily ascertainable through proper means by, another person who can obtain economic value from the disclosure or use of the information.
Nothing in this section shall be construed as eliminating or abridging any reporting requirement under the Coronavirus Aid, Relief, and Economic Security Act ( Public Law 116–136 ).
Connectionstraces to 1
Traces to 1 document
public-private-law
Citation graph
cites case law
Sec. 190502
Transparency of financial assistance
Cites 1Cited by 0 across 0 sources