Expanding American Homeownership Act of 2006 - (Sec. 3) Amends the National Housing Act to modify requirements for determining the maximum insurable mortgage amount.
Increases the maximum insurable mortgage amount to the full median house price in a home's area, allowing the Federal Housing Administration (FHA) to insure up to 100% of the Federal Home Loan Mortgage Corporation (FHLMC, or Freddie Mac) conforming loan limit. Increases the minimum loan limit (floor) from 48% to 65% of such limit.
(Sec. 4) Extends the permissible FHA mortgage term from 35 to 40 years.
(Sec. 5) Revises cash downpayment requirements. Repeals the requirement that a minimum of three percent of the estimated acquisition cost be paid down. Authorizes the Secretary of Housing and Urban Development to determine the downpayment amount based on factors commensurate with the likelihood of default.
(Sec. 6) Directs the Secretary to reinstate the current downpayment requirement if defaults increase beyond a specified ratio. Requires the Secretary to make default determinations for each of the five years following enactment of this Act, and report on them annually to Congress, including their effect upon the Mutual Mortgage Insurance Fund (MMIF).
Instructs the Secretary not to count among such defaults any on properties in disaster areas.
(Sec. 7) Authorizes the Secretary to establish, for a mortgage secured by a one- to four-family dwelling, a mortgage insurance premium structure involving a single premium payment collected prior to the insurance of the mortgage or annual payments, subject to specified maximum up-front and annual premium amounts. Allows the premium rate to vary during the mortgage term, as long as the basis for determining the variable rate is established before execution of the mortgage.
Establishes a premium reduction incentive for timely payment of permiums over a five-year period.
Requires prior notice to mortgagees and Congress in order to establish or alter a premium structure.
(Sec. 8) Makes the rehabilitation loan program an obligation of the MMIF instead of the General Insurance Fund (GIF).
(Sec. 9) Revises notification requirements regarding discretionary action taken by the Secretary to suspend or revoke the approval of a mortgagee to participate in FHA programs.
(Sec. 10) Permits the Secretary to insure any mortgage covering a one-family unit in a condominium project if the project has a multifamily blanket mortgage insured by the Secretary.
Redefines mortgage to include a first mortgage given to secure the unpaid purchase price of a fee interest, or long-term leasehold interest, in a one-family unit in a multifamily (condominium) project.
(Sec. 11) Revises requirements governing the MMIF. Sets limitations upon the Secretary's authority to enter into commitments for loan guarantees.
Confers fiduciary responsibility upon the Secretary to ensure that the MMIF remains financially sound.
Directs the Secretary to provide for and report to Congress annually on an independent actuarial study of the MMIF. Requires quarterly reports to Congress on loan guarantee commitments, loss rates, and projected annual subsidy rates.
Sets forth operation goals of the MMIF, and authorizes the Secretary to make programmatic or premium adjustments for it if such goals are not being met, or if there is a substantial probability that the MMIF will not maintain its target subsidy rate.
Makes obligations of the MMIF insured mortgages used in conjunction with the Homeownership Voucher program and insured home equity conversion mortgages (HECMs, or reverse mortgages).
(Sec. 12) Makes insurance of a Native Hawaiian Home Land or an Indian reservation mortgage the obligation of the MMIF (instead of the GIF).
(Sec. 14) Eliminates the 250,000 limitation upon the aggregate number of HECMs for elderly homeowners insured under the Act.
Establishes the FHLMC conforming loan limit as the maximum HECM amount and maximum claim amount.
Authorizes the Secretary to insure an HECM when its primary purpose is to enable an elderly mortgagor to purchase a one- to four-family dwelling in which the mortgagor will occupy one of the units. Sets the FHLMC conforming loan limit as the maximum principal obligation placed upon an HECM.
Revises the meaning of mortgage relating to a dwelling unit in a residential cooperative housing corporation (RCHC) for HECM insurance purposes. Specifies in such a mortgage a first or subordinate mortgage or lien on all stock allocated to such a dwelling unit, as well as a first mortgage or first lien on a leashold. Includes in the meaning of a first mortgage a first or subordinate lien on all stock allocated to an RCHC dwelling unit.
Directs the Secretary to study and report to Congress on mortgage insurance premiums for insurance of HECMs regarding: (1) the possible effects on costs to mortgagors and the program's financial soundness of reducing premiums; and (2) the feasibility and effectiveness of exempting from all program requirements any insured HECM under which all or part of future payments to the homeowner are used for a long-term care insurance contract on the mortgagor or family members.
(Sec. 15) Authorizes the Secretary to enter into agreements to insure for up to 36 months mortgages involving a principal obligation of up to 100% of the FHLMC conforming loan limit for a single family residence located in a presidentially declared major disaster area.
(Sec. 16) Redefines mortgagee to allow participation in the federal mortgage insurance program by state-licensed mortgage brokers and correspondent lenders who make, underwrite, or service mortgage loans. Requires a state-licensed mortgage broker or correspondent lender that closes but does not underwrite or service a mortgage to post a surety bond of $75,000, in lieu of annual audit and net worth requirements, in order also to participation in the program.
(Sec. 17) Expresses the sense of Congress that: (1) the Secretary should use a portion of funds received in excess of claims paid from premiums paid for FHA single family housing mortgage insurance to increase substantially the funding for technology used in the program; (2) the goal of this investment should be to bring such technology up to or exceeding the level and sophistication of the technology used in the conventional mortgage lending market; and (3) the Secretary should report to Congress on the progress the Department is making toward such goal and, if progress is not sufficient, the resources needed to make greater progress.
[Congressional Bills 109th Congress]
[From the U.S. Government Publishing Office]
[H.R. 5121 Introduced in House (IH)]
109th CONGRESS
2d Session
H. R. 5121
To modernize and update the National Housing Act and enable the Federal
Housing Administration to use risk-based pricing to more effectively
reach underserved borrowers, and for other purposes.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
April 6, 2006
Mr. Ney (for himself, Ms. Waters, Mr. Gary G. Miller of California, and
Mr. Tiberi) introduced the following bill; which was referred to the
Committee on Financial Services
_______________________________________________________________________
A BILL
To modernize and update the National Housing Act and enable the Federal
Housing Administration to use risk-based pricing to more effectively
reach underserved borrowers, and for other purposes.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE AND TABLE OF CONTENTS.
(a) Short Title.--This Act may be cited as the ``Expanding American
Homeownership Act of 2006''.
(b) Table of Contents.--The table of contents for this Act is as
follows:
Sec. 1. Short title and table of contents.
Sec. 2. Findings and purposes.
Sec. 3. Maximum principal loan obligation.
Sec. 4. Extension of mortgage term.
Sec. 5. Cash investment requirement.
Sec. 6. Mortgage insurance premiums.
Sec. 7. Rehabilitation loans.
Sec. 8. Discretionary action.
Sec. 9. Insurance of condominiums.
Sec. 10. Mutual Mortgage Insurance Fund.
Sec. 11. Hawaiian home lands and Indian reservations.
Sec. 12. Conforming and technical amendments.
Sec. 13. Home equity conversion mortgages.
Sec. 14. Conforming loan limit in disaster areas.
Sec. 15. Savings provision.
Sec. 16. Implementation.
SEC. 2. FINDINGS AND PURPOSES.
(a) Findings.--The Congress finds that--
(1) one of the primary missions of the Federal Housing
Administration (FHA) single family mortgage insurance program
is to reach borrowers who are underserved, or not served, by
the existing conventional mortgage marketplace;
(2) the FHA program has a long history of innovation, which
includes pioneering the 30-year self-amortizing mortgage and a
safe-to-seniors reverse mortgage product, both of which were
once thought too risky to private lenders;
(3) the FHA single family mortgage insurance program
traditionally has been a major provider of mortgage insurance
for home purchases;
(4) the FHA mortgage insurance premium structure, as well
as FHA's product offerings, should be revised to reflect FHA's
enhanced ability to determine risk at the loan level and to
allow FHA to better respond to changes in the mortgage market;
(5) during past recessions, including the oil-patch
downturns in the mid-1980s, FHA remained a viable credit
enhancer and was therefore instrumental in preventing a more
catastrophic collapse in housing markets and a greater loss of
homeowner equity; and
(6) as housing price appreciation slows and interest rates
rise, many homeowners and prospective homebuyers will need the
less-expensive, safer financing alternative that FHA mortgage
insurance provides.
(b) Purposes.--The purposes of this Act are--
(1) to provide flexibility to FHA to allow for the
insurance of housing loans for low- and moderate-income
homebuyers during all economic cycles in the mortgage market;
(2) to modernize the FHA single family mortgage insurance
program by making it more reflective of enhancements to loan-
level risk assessments and changes to the mortgage market; and
(3) to adjust the loan limits for the single family
mortgage insurance program to reflect rising house prices and
the increased costs associated with new construction.
SEC. 3. MAXIMUM PRINCIPAL LOAN OBLIGATION.
Paragraph (2) of section 203(b) of the National Housing Act (12
U.S.C. 1709(b)(2)) is amended--
(1) in subparagraph (A)--
(A) by striking the subparagraph designation and
all that follows through the end of clause (i) and
inserting the following:
``(A) not to exceed the lesser of--
``(i) the median house price in the area,
as determined by the Secretary; or''; and
(B) in clause (ii)--
(i) by striking ``87 percent of'';
(ii) by striking ``for Fiscal Year'' and
inserting a comma; and
(iii) by striking ``48 percent'' and
inserting ``65 percent'';
(2) by striking subparagraph (B) and inserting the
following:
``(B) not to exceed the appraised value of the
property, plus any initial service charges, appraisal,
inspection and other fees in connection with the
mortgage as approved by the Secretary.'';
(3) in the matter after and below subparagraph (B), by
striking the semi-colon in the first sentence and all that
follows through ``title 38, United States Code'' and inserting
a period; and
(4) by striking the last undesignated paragraph (relating
to counseling with respect to the responsibilities and
financial management involved in homeownership).
SEC. 4. EXTENSION OF MORTGAGE TERM.
Paragraph (3) of section 203(b) of the National Housing Act (12
U.S.C. 1709(b)(3)) is amended--
(1) by striking ``thirty-five years'' and inserting ``forty
years''; and
(2) by striking ``(or thirty years if such mortgage is not
approved for insurance prior to construction)''.
SEC. 5. CASH INVESTMENT REQUIREMENT.
Paragraph (9) of section 203(b) of the National Housing Act (12
U.S.C. 1709(b)(9) is amended by striking the paragraph designation and
all that follows through ``Provided further, That for'' and inserting
the following:
``(9) Be executed by a mortgagor who shall have paid on
account of the property, in cash or its equivalent, an amount,
if any, as the Secretary may determine based on factors
determined by the Secretary and commensurate with the
likelihood of default. For''.
SEC. 6. MORTGAGE INSURANCE PREMIUMS.
Section 203(c) of the National Housing Act (12 U.S.C. 1709(c)) is
amended--
(1) in paragraph (2), in the matter preceding subparagraph
(A), by striking ``Notwithstanding'' and inserting ``Except as
provided in paragraph (3) and notwithstanding''; and
(2) by adding at the end the following new paragraph:
``(3) Flexible Risk-Based Premiums.--
``(A) In general.--For any mortgage insured by the
Secretary under this title that is secured by a 1- to 4-family
dwelling and for which the loan application is received by the
mortgagor on or after October 1, 2006, the Secretary may
establish a mortgage insurance premium structure involving a
single premium payment collected prior to the insurance of the
mortgage or periodic payments, or both, without regard to any
maximum or minimum premium amounts set forth in this
subsection. The rate of premium for such a mortgage may vary
during the mortgage term as long as the basis for determining
the variable rate is established before the execution of the
mortgage. The Secretary may change a premium structure
established under this subparagraph but only to the extent that
such change is not applied to any mortgage already executed.
``(B) Establishment and alteration of premium structure.--A
premium structure shall be established or changed under
subparagraph (A) only by providing notice to mortgagees and to
the Congress, at least 30 days before the premium structure is
established or changed.
``(C) Considerations for premium structure.--When
establishing a premium structure under subparagraph (A) or when
changing such a premium structure, the Secretary shall consider
the following:
``(i) The effect of the proposed premium structure
on the Secretary's ability to meet the operational
goals of the Mutual Mortgage Insurance Fund as provided
in section 202(a).
``(ii) Underwriting variables.
``(iii) The extent to which new pricing under the
proposed premium structure has potential for acceptance
in the private market.
``(iv) The administrative capability of the
Secretary to administer the proposed premium structure.
``(v) The effect of the proposed premium structure
on the Secretary's ability to maintain the availability
of mortgage credit and provide stability to mortgage
markets.''.
SEC. 7. REHABILITATION LOANS.
Subsection (k) of section 203 of the National Housing Act (12
U.S.C. 1709(k)) is amended--
(1) in paragraph (1), by striking ``on'' and all that
follows through ``1978''; and
(2) in paragraph (5)--
(A) by striking ``General Insurance Fund'' the
first place it appears and inserting ``Mutual Mortgage
Insurance Fund''; and
(B) in the second sentence, by striking the comma
and all that follows through ``General Insurance
Fund''.
SEC. 8. DISCRETIONARY ACTION.
The National Housing Act is amended--
(1) in subsection (e) of section 202 (12 U.S.C. 1708(e))--
(A) in paragraph (3)(B), by striking ``section
202(e) of the National Housing Act'' and inserting
``this subsection''; and
(B) by redesignating such subsection as subsection
(f);
(2) by striking paragraph (4) of section 203(s) (12 U.S.C.
1709(s)(4)) and inserting the following new paragraph:
``(4) the Secretary of Agriculture;''; and
(3) by transferring subsection (s) of section 203 (as
amended by paragraph (2) of this section) to section 202,
inserting such subsection after subsection (d) of section 202,
and redesignating such subsection as subsection (e).
SEC. 9. INSURANCE OF CONDOMINIUMS.
(a) In General.--Section 234 of the National Housing Act (12 U.S.C.
1715y) is amended--
(1) in subsection (c)--
(A) in the first sentence--
(i) by striking ``and'' before ``(2)''; and
(ii) by inserting before the period at the
end the following: ``, and (3) the project has
a blanket mortgage insured by the Secretary
under subsection (d)''; and
(B) in clause (B) of the third sentence, by
striking ``thirty-five years'' and inserting ``forty
years''; and
(2) in subsection (g), by striking ``, except that'' and
all that follows and inserting a period.
(b) Definition of Mortgage.--Section 201(a) of the National Housing
Act (12 U.S.C. 1707(a)) is amended--
(1) in clause (1), by striking ``or'' and inserting a
comma; and
(2) by inserting before the semicolon the following: ``, or
(3) a first mortgage given to secure the unpaid purchase price
of a fee interest in, or long-term leasehold interest in, a
one-family unit in a multifamily project, including a project
in which the dwelling units are attached, semi-detached, or
detached, and an undivided interest in the common areas and
facilities which serve the project''.
SEC. 10. MUTUAL MORTGAGE INSURANCE FUND.
(a) In General.--Subsection (a) of section 202 of the National
Housing Act (12 U.S.C. 1708(a)) is amended to read as follows:
``(a) Mutual Mortgage Insurance Fund.--
``(1) Establishment.--Subject to the provisions of the
Federal Credit Reform Act of 1990, there is hereby created a
Mutual Mortgage Insurance Fund (in this title referred to as
the `Fund'), which shall be used by the Secretary to carry out
the provisions of this title with respect to mortgages insured
under section 203. The Secretary may enter into commitments to
guarantee, and may guarantee, such insured mortgages.
``(2) Limit on loan guarantees.--The authority of the
Secretary to enter into commitments to guarantee such insured
mortgages shall be effective for any fiscal year only to the
extent that the aggregate original principal loan amount under
such mortgages, any part of which is guaranteed, does not
exceed the amount specified in appropriations Acts for such
fiscal year.
``(3) Fiduciary responsibility.--The Secretary has a
responsibility to ensure that the Mutual Mortgage Insurance
Fund remains financially sound.
``(4) Annual independent actuarial study.--The Secretary
shall provide for an independent actuarial study of the Fund to
be conducted annually, which shall analyze the financial
position of the Fund. The Secretary shall submit a report
annually to the Congress describing the results of such study
and assessing the financial status of the Fund. The report
shall recommend adjustments to underwriting standards, program
participation, or premiums, if necessary, to ensure that the
Fund remains financially sound.
``(5) Quarterly reports.--During each fiscal year, the
Secretary shall submit a report to the Congress for each
quarter, which shall specify for mortgages that are obligations
of the Fund--
``(A) the cumulative volume of loan guarantee
commitments that have been made during such fiscal year
through the end of the quarter for which the report is
submitted;
``(B) the types of loans insured, categorized by
risk;
``(C) any significant changes between actual and
projected claim and prepayment activity;
``(D) projected versus actual loss rates; and
``(E) updated projections of the annual subsidy
rates to ensure that increases in risk to the Fund are
identified and mitigated by adjustments to underwriting
standards, program participation, or premiums, and the
financial soundness of the Fund is maintained.
The first quarterly report under this paragraph shall be
submitted on the last day of the first quarter of fiscal year
2007, or upon the expiration of the 90-day period beginning on
the date of the enactment of the Expanding American
Homeownership Act of 2006, whichever is later.
``(6) Adjustment of premiums.--If, pursuant to the
independent actuarial study of the Fund required under
paragraph (5), the Secretary determines that the Fund is not
meeting the operational goals established under paragraph (8)
or there is a substantial probability that the Fund will not
maintain its established target subsidy rate, the Secretary may
either make programmatic adjustments under section 203 as
necessary to reduce the risk to the Fund, or make appropriate
premium adjustments.
``(7) Operational goals.--The operational goals for the
Fund are--
``(A) to charge borrowers under loans that are
obligations of the Fund an appropriate premium for the
risk that such loans pose to the Fund;
``(B) to minimize the default risk to the Fund and
to homeowners;
``(C) to curtail the impact of adverse selection on
the Fund; and
``(D) to meet the housing needs of the borrowers
that the single family mortgage insurance program under
this title is designed to serve.''.
(b) Obligations of Fund.--The National Housing Act is amended as
follows:
(1) Homeownership voucher program mortgages.--In section
203(v) (12 U.S.C. 1709(v))--
(A) by striking ``Notwithstanding section 202 of
this title, the'' and inserting ``The''; and
(B) by striking ``General Insurance Fund'' the
first place such term appears and all that follows and
inserting ``Mutual Mortgage Insurance Fund.''.
(2) Home equity conversion mortgages.--Section 255(i)(2)(A)
of the National Housing Act (12 U.S.C. 1715z-20(i)(2)(A)) is
amended by striking ``General Insurance Fund'' and inserting
``Mutual Mortgage Insurance Fund''.
(c) Conforming Amendments.--The National Housing Act is amended--
(1) in section 205 (12 U.S.C. 1711), by striking
subsections (g) and (h); and
(2) in section 519(e) (12 U.S.C. 1735c(e)), by striking
``203(b)'' and all that follows through ``203(i)'' and
inserting ``203, except as determined by the Secretary,''.
SEC. 11. HAWAIIAN HOME LANDS AND INDIAN RESERVATIONS.
(a) Hawaiian Home Lands.--Section 247(c) of the National Housing
Act (12 U.S.C. 1715z-12) is amended--
(1) by striking ``General Insurance Fund established in
section 519'' and inserting ``Mutual Mortgage Insurance Fund'';
and
(2) in the second sentence, by striking ``(1) all
references'' and all that follows through ``and (2)''.
(b) Indian Reservations.--Section 248(f) of the National Housing
Act (12 U.S.C. 1715z-13) is amended--
(1) by striking ``General Insurance Fund'' the first place
it appears through ``519'' and inserting ``Mutual Mortgage
Insurance Fund''; and
(2) in the second sentence, by striking ``(1) all
references'' and all that follows through ``and (2)''.
SEC. 12. CONFORMING AND TECHNICAL AMENDMENTS.
(a) Repeals.--The following provisions of the National Housing Act
are repealed:
(1) Subsection (i) of section 203 (12 U.S.C. 1709(i)).
(2) Subsection (o) of section 203 (12 U.S.C. 1709(o)).
(3) Subsection (p) of section 203 (12 U.S.C. 1709(p)).
(4) Subsection (q) of section 203 (12 U.S.C. 1709(q)).
(5) Section 222 (12 U.S.C. 1715m).
(6) Section 237 (12 U.S.C. 1715z-2).
(7) Section 245 (12 U.S.C. 1715z-10).
(b) Definition of Area.--Section 203(u)(2)(A) of the National
Housing Act (12 U.S.C. 1709(u)(2)(A)) is amended by striking ``shall''
and all that follows and inserting ``means a metropolitan statistical
area as established by the Office of Management and Budget;''.
(c) Definition of State.--Section 201(d) of the National Housing
Act (12 U.S.C. 1707(d)) is amended by striking ``the Trust Territory of
the Pacific Islands'' and inserting ``the Commonwealth of the Northern
Mariana Islands''.
SEC. 13. HOME EQUITY CONVERSION MORTGAGES.
Section 255 of the National Housing Act (12 U.S.C. 1715z-20) is
amended--
(1) in subsection (g)--
(A) by striking the first sentence; and
(B) by striking ``established under section
203(b)(2)'' and all that follows through ``located''
and inserting ``limitation established under section
305(a)(2) of the Federal Home Loan Mortgage Corporation
Act for a 1-family residence'';
(2) in subsection (i)(1)(C), by striking ``limitations''
and inserting ``limitation''; and
(3) by adding at the end the following new subsection:
``(n) Authority to Insure Home Purchase Mortgage.--
``(1) In general.--Notwithstanding any other provision in
this section, the Secretary may insure, upon application by a
mortgagee, a home equity conversion mortgage upon such terms
and conditions as the Secretary may prescribe, when the primary
purpose of the home equity conversion mortgage is to enable an
elderly mortgagor to purchase a 1-to 4 family dwelling in which
the mortgagor will occupy or occupies one of the units.
``(2) Limitation on principal obligation.--A home equity
conversion mortgage insured pursuant to paragraph (1) shall
involve a principal obligation that does not exceed the dollar
amount limitation determined under section 305(a)(2) of the
Federal Home Loan Mortgage Corporation Act for a residence of
the applicable size.''.
SEC. 14. CONFORMING LOAN LIMIT IN DISASTER AREAS.
Section 203(h) of the National Housing Act (12 U.S.C. 1709) is
amended--
(1) by inserting after ``property'' the following: ``plus
any initial service charges, appraisal, inspection and other
fees in connection with the mortgage as approved by the
Secretary,'';
(2) by striking the third sentence (as added by chapter 7
of the Emergency Supplemental Appropriations Act of 1994
(Public Law 103-211; 108 Stat. 12)); and
(3) by adding at the end the following new sentence: ``In
any case in which the single family residence to be insured
under this subsection is within a jurisdiction in which the
President has declared a major disaster to have occurred, the
Secretary is authorized, for a temporary period not to exceed
36 months from the date of such Presidential declaration, to
enter into agreements to insure a mortgage which involves a
principal obligation of up to 100 percent of the dollar
limitation determined under section 305(a)(2) of the Federal
Home Loan Mortgage Corporation Act for a single family
residence, and not in excess of 100 percent of the appraised
value of the property plus any initial service charges,
appraisal, inspection and other fees in connection with the
mortgage as approved by the Secretary.''.
SEC. 15. SAVINGS PROVISION.
Any mortgage insured under title II of the National Housing Act
before the date of enactment of this title shall continue to be
governed by the laws, regulations, orders, and terms and conditions to
which it was subject on the day before the date of the enactment of
this Act.
SEC. 16. IMPLEMENTATION.
The Secretary of Housing and Urban Development shall by notice
establish any additional requirements that may be necessary to
immediately carry out the provisions of this title. The notice shall
take effect upon issuance.
<all>
Introduced in House
Introduced in House
Referred to the House Committee on Financial Services.
Committee Consideration and Mark-up Session Held.
Ordered to be Reported (Amended) by Voice Vote.
Sponsor introductory remarks on measure. (CR H4583)
Reported (Amended) by the Committee on Financial Services. H. Rept. 109-589.
Reported (Amended) by the Committee on Financial Services. H. Rept. 109-589.
Placed on the Union Calendar, Calendar No. 340.
Mr. Ney moved to suspend the rules and pass the bill, as amended.
Considered under suspension of the rules. (consideration: CR H5734-5742)
DEBATE - The House proceeded with forty minutes of debate on H.R. 5121.
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At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.
Considered as unfinished business. (consideration: CR H5813-5814)
Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 415 - 7 (Roll no. 400).(text: CR H5734-5738)
Roll Call #400 (House)On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 415 - 7 (Roll no. 400). (text: CR H5734-5738)
Roll Call #400 (House)Motion to reconsider laid on the table Agreed to without objection.
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.