RTC Fiscal Accountability Act of 1993

RTC Fiscal Accountability Act of 1993 - Amends the Federal Home Loan Bank Act to condition authorization of appropriations to the Resolution Trust Corporation (RTC) upon transmittal by the President to the Congress of a plan to finance RTC losses incurred after enactment of the Resolution Trust Corporation Conditional Funding Act of 1993: (1) by paying for such losses over a five-year period; and (2) without any increase in either the Federal debt or in tax revenues or revenue enhancements.

[Congressional Bills 103th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1676 Introduced in House (IH)]

103d CONGRESS
  1st Session
                                H. R. 1676

To require the President to submit a plan for financing the losses from 
the resolution of savings and loan associations as a condition for the 
      authorization of additional appropriations for such losses.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             April 2, 1993

  Mr. Grams (for himself, Mr. Leach, Mr. Knollenberg, Mr. Armey, Ms. 
Pryce of Ohio, Mr. Sam Johnson of Texas, Mr. King, Mr. Ramstad, and Mr. 
Baker of California) introduced the following bill; which was referred 
         to the Committee on Banking, Finance and Urban Affairs

_______________________________________________________________________

                                 A BILL


 
To require the President to submit a plan for financing the losses from 
the resolution of savings and loan associations as a condition for the 
      authorization of additional appropriations for such losses.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``RTC Fiscal Accountability Act of 
1993''.

SEC. 2. CONDITIONAL FUNDING.

    Section 21A(i) of the Federal Home Loan Bank Act (12 U.S.C. 
1441a(i)) is amended by adding at the end the following new paragraph:
            ``(2) Conditional funding.--No amount is authorized to be 
        appropriated to the Corporation under any provision of law 
        unless--
                    ``(A) the President transmits a plan to the 
                Congress to finance the losses incurred by the 
                Corporation after the date of the enactment of the 
                Resolution Trust Corporation Conditional Funding Act of 
                1993;
                    ``(B) the plan transmitted--
                            ``(i) provides for the payment of such 
                        losses over a period of not more than 5 years;
                            ``(ii) allows no increase in the public 
                        indebtedness of the United States after the end 
                        of such period with respect to such payments; 
                        and
                            ``(iii) allows no increase in tax revenues 
                        or revenue enhancements in any manner with 
                        respect to such payments; and
                    ``(C) the plan is transmitted to the Congress not 
                less than 30 days after the date of the enactment of 
                such Act.''.

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