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[Federal Register: February 11, 2009 (Volume 74, Number 27)]
[Presidential Documents]
[Page 6983-6984]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr11fe09-120]

                        Presidential Documents

[[Page 6983]]

                Executive Order 13501 of February 6, 2009

                Establishment of the President's Economic
                Recovery Advisory Board

                By the authority vested in me as President by the
                Constitution and the laws of the United States of
                America, and in order to enhance the strength and
                competitiveness of the Nation's economy and the
                prosperity of the American people by ensuring the
                availability of independent, nonpartisan information,
                analysis, and advice to the President as he formulates
                and implements his plans for economic recovery, it is
                hereby ordered as follows:

                Section 1. There is hereby established within the
                Department of the Treasury the President's Economic
                Recovery Advisory Board (PERAB). The PERAB shall
                consist of not more than 17 members, who shall be
                appointed by the President from among distinguished
                citizens from outside the Government who are qualified
                on the basis of achievement, experience, independence,
                and integrity. The overall membership of the PERAB
                shall reflect a diverse set of perspectives from across
                the country and from various sectors of the economy.
                The President shall designate a Chair from among the
                members. The Chair shall appoint a Staff Director, who
                shall supervise the staff of the PERAB.

                Sec. 2. The functions of the PERAB are advisory only.
                The PERAB shall meet regularly and shall:

                    (a) solicit information and ideas from across the
                country and from all sectors of our economy about the
                functioning of the economy, the condition of the
                financial and banking system, and the prosperity of the
                American people and of American industry that can serve
                to inform the decisionmaking of the President, and,
                with respect to matters deemed appropriate by the
                President, provide information and recommendations to
                any other agency with responsibilities related to the
                economy or financial markets or to the National
                Economic Council;
                    (b) report directly to the President on the design,
                implementation, and evaluation of policies to promote
                the growth of the American economy, establish a stable
                and sound financial and banking system, create jobs,
                and improve the long-term prosperity of the American
                people; and
                    (c) provide analysis and information with respect
                to the operation, regulation, and healthy functioning
                of the economy and of the financial and banking system.
                As deemed appropriate by the President, this analysis
                and information shall be provided to the Chairman of
                the Board of Governors of the Federal Reserve System,
                to any other agency with responsibilities related to
                the economy or financial markets, or to the National
                Economic Council.

                Sec. 3. Administration of the PERAB. (a) All executive
                departments and agencies and all entities within the
                Executive Office of the President shall cooperate with
                the PERAB and provide such information and assistance
                to the PERAB as the PERAB may request, to the extent
                permitted by law.

                    (b) The Department of the Treasury shall provide
                funding and administrative support for the PERAB to the
                extent permitted by law and within existing
                appropriations.
                    (c) Members of the PERAB shall serve without
                compensation but may receive transportation expenses,
                including per diem in lieu of subsistence,

[[Page 6984]]

                as authorized by law for persons serving intermittently
                in the Government (5 U.S.C. 5701-5707), consistent with
                the availability of funds.

                Sec. 4. Termination. The PERAB shall terminate 2 years
                after the date of this order unless extended by the
                President.

                Sec. 5. General Provisions. (a) Insofar as the Federal
                Advisory Committee Act, as amended (5 U.S.C. App.) (the
                ``Act''), may apply to the PERAB, any functions of the
                President under the Act, except for those in section 6
                of the Act, shall be performed by the Secretary of the
                Treasury in accordance with the guidelines that have
                been issued by the Administrator of General Services.

                    (b) Nothing in this order shall be construed to
                impair or otherwise affect:

  (i) authority granted by law to a department or agency,or the head
thereof; or

  (ii) functions of the Director of the Office of Management and Budget
relating to budgetary, administrative, or legislative proposals.

                    (c) This order shall be implemented consistent with
                applicable law and subject to the availability of
                appropriations.
                    (d) This order is not intended to, and does not,
                create any right or benefit, substantive or procedural,
                enforceable at law or in equity by any party against
                the United States, its departments, agencies, or
                entities, its officers, employees, or agents, or any
                other person.
                

                    (Presidential Sig.)

                THE WHITE HOUSE,

                    February 6, 2009.

[FR Doc. E9-3112 Filed 2-10-09; 1:00 pm]

Billing code 3195-W9-P

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