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Wool
Latest Action: 10/03/2008 - Pursuant to the provisions of H. Res. 1525, the House moved to agree to the Senate amendments. (consideration: CR H10712-10806) Bill TextA bill to provide authority for the Federal Government to purchase and insure certain types of troubled assets for the purposes of providing stability to and preventing disruption in the economy and financial system and protecting taxpayers, to amend the Internal Revenue Code of 1986 to provide incentives for energy production and conservation, to extend certain expiring provisions, to provide individual income tax relief, and for other purposes. 10/3/2008--Public Law. (There are 6 other summaries) (This measure has not been amended since it was passed by the Senate on October 1, 2008. The summary of that version is repeated here.)Division A: Emergency Economic Stabilization - Emergency Economic Stabilization Act of 2008 - Title I: Troubled Assets Relief Program - (Sec. 101) Authorizes the Secretary of the Treasury (Secretary) to establish the Troubled Asset Relief Program (TARP) to purchase troubled assets from any financial [...] show full description
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Latest Action: 02/01/2007 - Sponsor introductory remarks on measure. (CR S1523-1524) Bill TextA bill to improve the prohibitions on money laundering, and for other purposes. 2/1/2007--Introduced. Combating Money Laundering and Terrorist Financing Act of 2007 - Amends money laundering provisions of the federal criminal code to redefine "specified unlawful activity" as: (1) any act constituting an offense in violation of the laws of the United States or any State punishable by imprisonment for a term exceeding 1 year; and (2) any act occurring outside of the United States that would constitute such an offense if committed within U.S. jurisdiction. Revises the procedure for issuing subpoenas in money laundering cases. Assigns a standard value to monetary instruments payable to bearer in blank (with no amount indicated on the instrument). Increases the penalty for bulk cash smuggling in or out of the United States from five to 10 years. Redefines money laundering transactions involving amounts greater than $10,000 to include commingling [...] show full description
Also tagged in: Administrative procedure, Brokers, Department of the Treasury, Executive departments, Finance, Income tax, Law, Mutual funds, Tax administration, Tax returns, Taxation
Latest Action: 02/14/2007 - Sponsor introductory remarks on measure. (CR S1978-1979) Bill TextA bill to amend the Internal Revenue Code of 1986 to require broker reporting of customer's basis in securities transactions, and for other purposes. 2/14/2007--Introduced. Simplification Through Additional Reporting Tax Act of 2007 - Amends the Internal Revenue Code to include within the reporting requirements of investment brokers the adjusted basis of any security owned by customers of such brokers.
Also tagged in: Brokers, Business, Corporate mergers, Corporate reorganizations, Dividends, Finance, Government information, Government paperwork, Income tax, Interest, Pension funds, Pensions, Stockholders, Tax administration, Tax returns, Tax-deferred compensation plans, Taxation
Latest Action: 02/15/2007 - Sponsor introductory remarks on measure. (CR S2085-2086) Bill TextA bill to amend the Internal Revenue Code of 1986 to extend the reporting period for certain statements sent to taxpayers. 2/15/2007--Introduced. Reduce Wasteful Tax Forms Act of 2007 - Amends the Internal Revenue Code to extend until February 15 the annual deadline for reporting certain investment income to the Internal Revenue Service.
Also tagged in: Administrative procedure, Brokers, Department of the Treasury, Executive departments, Finance, Income tax, Law, Mutual funds, Tax administration, Tax returns, Taxation
Latest Action: 02/07/2007 - Referred to the House Committee on Ways and Means. Bill TextTo amend the Internal Revenue Code of 1986 to require broker reporting of customer's basis in securities transactions, and for other purposes. 2/7/2007--Introduced. Simplification Through Additional Reporting Tax Act of 2007 - Amends the Internal Revenue Code to include within the reporting requirements of investment brokers the adjusted basis of any security owned by customers of such brokers.
Also tagged in: Agricultural cooperatives, Agricultural credit, Agriculture, Bank accounts, Banks and banking, Budgets, Business, Capital gains tax, Capital investments, Catastrophic health insurance, College costs, Construction costs, Consumer cooperatives, Cost of living adjustments, County politics and government, Depreciation and amortization, Earned income tax credit, Economic policy, Education, Electrification, Energy, Entrepreneurs, Excise tax, Federal aid to education, Federally-guaranteed loans, Finance, Government information, Government paperwork, Health policy, Higher education, Home ownership, Housing, Housing finance, Income tax, Indexing (Economic policy), Infrastructure, Infrastructure (Economics), Internal migration, Investment tax credit, Job creation, Job training, Labor, Law, Medical care, Medical economics, Minimum tax, Nonprofit organizations, Politics and government, Residence requirements, Rural affairs, Rural economic development, Rural education, Rural housing, Saving and investment, Savings and loan associations, Scholarships, Small business, Small towns, Social services, State and local government, Student loan funds, Tax credits, Tax deductions, Tax exclusion, Tax exemption, Tax penalties, Tax returns, Tax-exempt organizations, Trusts and trustees, Urban affairs, Venture capital, Vocational education, Welfare
Latest Action: 04/12/2007 - Sponsor introductory remarks on measure. (CR S4439-4440) Bill TextA bill to reward the hard work and risk of individuals who choose to live in and help preserve America's small, rural towns, and for other purposes. 4/12/2007--Introduced. New Homestead Act of 2007 - Directs the Secretary of Education to repay a specified percentage (up to $2,000 per year) of certain education loans to an individual who completes a degree and both resides and is employed for at least five years in an area outside a metropolitan statistical area which for 20 years has a net out-migration of inhabitants of at least 10% of the county population (qualifying county). Amends the Internal Revenue Code to allow a: (1) tax credit for the lesser of $5,000 or 10% of the purchase price of a principal residence in a qualifying county; and (2) capital loss deduction with respect to a sale or exchange of a principal residence in a qualifying county. Provides for the creation of tax-exempt individual homestead accounts, funded by individual cash contributions and matching [...] show full description
Also tagged in: Business, Contractors, Dividends, Excise tax, Finance, Foreign corporations, Foreign exchange, Futures trading, Health facilities, Income tax, International finance, Leases, Medical care, Medicine, Real estate investment trusts, Rent, Stocks, Subsidiary corporations, Tax administration, Tax exclusion, Tax penalties, Taxation, Trade
Latest Action: 02/16/2007 - Sponsor introductory remarks on measure. (CR E384-385) Bill TextTo amend the Internal Revenue Code of 1986 to simplify certain provisions applicable to real estate investment trusts, and for other purposes. 2/16/2007--Introduced. REIT Investment Diversification and Empowerment Act of 2007 - Amends Internal Revenue Code provisions relating to real estate investment trusts (REITs) to: (1) treat passive foreign exchange gains attributable to overseas real estate investment as qualifying REIT income; (2) increase from 20 to 25% the the maximum value of a REIT's total assets thay may be represented by securities of one or more taxable REIT subsidiaries; (3) revise safe harbor rules for the excise tax penalty on certain REIT sales activities; (4) treat rental payments made by a health care facility to a REIT as qualifying REIT income; and (5) treat income from, and interests in, foreign-qualified REITs as qualifying REIT income and assets.
Also tagged in: Administrative procedure, Bank accounts, Brokers, Business, Capital, Executive departments, Finance, Independent regulatory commissions, Investments, Law, Margins (Security trading), Money market funds, Securities and Exchange Commission, Securities industry, Securities regulation, Surety and fidelity
Latest Action: 04/11/2007 - Referred to the Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises. Bill TextTo direct the Securities and Exchange Commission to revise rules to provide for the comparable treatment and expanded use of qualified money market funds for broker-dealer financing. 2/16/2007--Introduced. Money Market Fund Parity Act of 2007 - Directs the Securities and Exchange Commission to revise, according to specified requirements, rules relating to net capital, custody and use of customers' securities, and certain underwritings to provide for: (1) treatment of securities issued by qualified money market funds comparable with the treatment under those rules of other low-risk securities and deposits; and (2) the expanded use of securities issued by qualified money market funds for financing by brokers and dealers.
Also tagged in: Authorization, Budgets, Business, Children, Day care, Disaster loans, Emergency management, Entrepreneurs, Executive departments, Executive reorganization, Federally-guaranteed loans, Finance, Government lending, Grants-in-aid, Job training, Nonprofit organizations, Small business, Small Business Administration, Small business investment companies, Social services
Latest Action: 04/16/2008 - Committee on Small Business and Entrepreneurship. Hearings held. Bill TextA bill to amend the Small Business Act to reauthorize loan programs under that Act, and for other purposes. 9/12/2007--Reported to Senate amended. (There is 1 other summary) Small Business Lending Reauthorization and Improvements Act of 2007 - (Sec. 4) Amends the Small Business Act (the Act) to reauthorize for FY2007-FY2010 certain small business assistance programs of the Small Business Administration (SBA), including: (1) the microloan program (loans made to very small businesses for start-up, expansion, or equipment); (2) section 7(a) loans (SBA-guaranteed general business loans made to small businesses); (3) certified development company (CDC) financings; (4) assistance to veteran-owned small businesses and small businesses affected by a Department of Defense base closure or realignment or the termination of a defense contract or subcontract; and (5) the Program for Investment in Microentrepreneurs (PRIME).Title I: Microloan Programs - [...] show full description
Also tagged in: Budgets, Civil rights, Collection of accounts, College administration, College costs, Colleges, Conflict of interests, Congressional reporting requirements, Consultants, Consumer education, Consumers, Discrimination in consumer credit, Education, Educational technology, Equipment and supplies, Ethics, Federal aid to education, Fees, Finance, Fines (Penalties), Gifts, Government information, Government paperwork, Governmental investigations, Higher education, Information technology, Interest rates, Law, Loan defaults, School personnel, Stocks, Student aid, Student loan funds, Students' rights, Technology, Telecommunication, Transportation, Travel costs, Trusts and trustees, Web sites
Latest Action: 05/02/2007 - Sponsor introductory remarks on measure. (CR S5499-5500) Bill TextA bill to protect students receiving student loans, and for other purposes. 5/2/2007--Introduced. Student Loan Accountability and Disclosure Reform Act - Amends title IV (Student Assistance) of the Higher Education Act of 1965 (the Act) to expand prohibitions on guaranty agencies operating under the Federal Family Education Loan (FFEL) program by prohibiting their offering specified inducements to institutions of higher education (IHE) or lenders to secure business or providing certain services for such institutions without appropriate compensation. Requires lenders to provide student loan applicants with certain written information regarding: (1) loan conditions; (2) their possible qualification for title IV assistance; (3) the method for determining the applicable interest rate; and (4) whether the loans provided exceed a student's attendance costs. Directs the Secretary of Education and the Secretary of the Treasury to review the private educational loan [...] show full description
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Latest Legislation - View All
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Latest Action: 07/30/2008 - Cloture on the motion to proceed to the measure not invoked in Senate by Yea-Nay Vote. 51 - 43. Record Vote Number: 192. (consideration: CR S7722; text: CR S7722) Bill TextA bill to amend the Internal Revenue Code of 1986 to extend certain expiring provisions, and for other purposes. 7/24/2008--Introduced. Jobs, Energy, Families, and Disaster Relief Act of 2008 - Amends the Internal Revenue Code to extend various provisions relating to energy production and conservation and to individual and business-related activities.Extends the tax credit for producing electricity from wind facilities through 2009 and the tax credit for closed and open-loop biomass, geothermal, small irrigation, hydropower, landfill gas, and trash combustion facilities through 2011. Includes marine and hydrokinetic renewable energy as a renewable resource for purposes of such tax credit. Extends the energy tax credit for solar energy and the residential energy efficient property tax credit through 2016. Extends the energy tax credits for fuel cell and microturbine property through 2017. Allows a new investment tax credit for combined heat and power system property.[...] show full description
Also tagged in: Administrative procedure, Automated teller machines, Bank accounts, Bank loans, Bank management, Banks and banking, Business, Checks, Churches, Civil liberties, Community development banking, Congress, Congressional reporting requirements, Consumer education, Consumers, Cost accounting, Credit unions, Depressed areas, Economic policy, Electronic funds transfers, Executive departments, Fees, Finance, Government information, Government paperwork, Interest, Interest rates, Investments, Law, Leases, Mortgages, Motor vehicles, National Credit Union Administration, Nonprofit organizations, NOW accounts, Religion, Right of privacy, Savings and loan associations, Small business, Small business investment companies, Social services, Surveys, Transportation
Latest Action: 06/25/2008 - Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Bill TextTo advance credit union efforts to promote economic growth, modify credit union regulatory standards and reduce burdens, to provide regulatory relief and improve productivity for insured depository institutions, and for other purposes. 6/24/2008--Passed House without amendment. (There is 1 other summary) (This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.) Credit Union, Bank, and Thrift Regulatory Relief Act of 2008 - Title I: Credit Unions - (Sec. 101) Amends the Federal Credit Union Act to: (1) permit a credit union to invest in securities for its own account, subject to certain percentage limitations; and (2) increase the investment and lending limit in credit union service organizations from 1% to 3% of a credit union's total paid and unimpaired capital and surplus. (Sec. 103) Excludes credit union loans to nonprofit religious organizations [...] show full description
Also tagged in: Administrative procedure, Bonds, Communications, Executive departments, Finance, Government information, Government securities, Independent regulatory commissions, Information disclosure (Securities law), Investment guaranty insurance, Investors, Law, Money market funds, Performance measurement, Risk, Securities and Exchange Commission, Securities regulation, Signs and symbols
Latest Action: 09/09/2008 - Reported (Amended) by the Committee on Financial Services. H. Rept. 110-835. Bill TextTo ensure uniform and accurate credit rating of municipal bonds and provide for a review of the municipal bond insurance industry. 6/19/2008--Introduced. Municipal Bond Fairness Act - Amends the Securities Exchange Act of 1934 to direct the Securities and Exchange Commission (SEC) to require each registered nationally recognized statistical rating organization (NSRO) (credit rating agency) to: (1) establish and maintain credit ratings with respect to securities and money market instruments designed to assess the risk that investors in such instruments may not receive payment in accordance with their terms of issuance; and (2) define clearly any rating symbol and apply it consistently. Prohibits the SEC from imposing any requirement that prevents an NSRO from establishing ratings that are complementary to such mandatory ratings and that are created to measure a discrete aspect of risk.Directs the SEC to establish performance measures to determine when to review [...] show full description
Also tagged in: Administrative procedure, Bank capital, Bank loans, Bank management, Bank mergers, Business, Credit unions, Department of the Treasury, Deposit insurance, Disasters, Emergency management, Executive departments, Executive reorganization, Federal Deposit Insurance Corporation, Federal reserve system, Finance, Investments, Law, Leases, National Credit Union Administration, Risk, Savings banks
Latest Action: 05/01/2008 - Sponsor introductory remarks on measure. (CR S3708-3710) Bill TextA bill to modernize credit union net worth standards, advance credit union efforts to promote economic growth, and modify credit union regularity standards and reduce burdens, and for other purposes. 5/1/2008--Introduced. Credit Union Regulatory Improvements Act of 2008 - Amends the Federal Credit Union Act to reduce the minimum net worth ratio requirements of credit unions. Revises the minimum risk-based net ratio for such capitalizations.Transfers from the federal banking agencies to the Federal Deposit Insurance Corporation (FDIC) the authority to adjust the net worth levels of credit unions.Instructs the National Credit Union Administration Board (Board) to design the risk-based net worth requirement to take account of material risks to insured credit unions that are taken account of by comparable standards applicable to FDIC-insured institutions.Establishes a temporary waiver of the net worth restoration plan requirement for an undercapitalized [...] show full description
Also tagged in: Armed forces, Authorization, Budgets, Business, Conferences, Day care, Defense contracts, Defense economics, Depressed areas, Disabled, Disaster loans, Drug abuse, Drugs and employment, Economic policy, Emergency management, Employee health benefits, Entrepreneurs, Executive departments, Executive reorganization, Executives, Federal officials, Federally-guaranteed loans, Finance, Foreign trade promotion, Government employees, Government lending, Government regulation, Health insurance, Health policy, Indian economic development, Labor, Medical care, Military base closures, Minorities, Minority business enterprises, National service, Public contracts, Rural affairs, Small business, Small Business Administration, Small business investment companies, Social services, Subcontractors, Trade, Venture capital, Women, Women in business
Latest Action: 04/28/2008 - Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 720. Bill TextA bill to reauthorize and improve the financing and entrepreneurial development programs of the Small Business Administration, and for other purposes. 4/24/2008--Introduced. SBA Reauthorization and Improvement Act of 2008 - Amends the Small Business Act (the Act) to reauthorize for FY2008-FY2010 certain small business assistance programs of the Small Business Administration (SBA), including: (1) the microloan program (loans made to very small businesses for start-up, expansion, or equipment); (2) section 7(a) loans (SBA-guaranteed general business loans); (3) certified development company (CDC) financings; (4) assistance to small businesses affected by a Department of Defense base closure or realignment or the termination of a defense contract or subcontract; (5) the Program for Investment in Microentrepreneurs (PRIME); and (6) small business disaster loans. Revises or adds provisions concerning the microloan program, including: (1) increased loan amounts; and (2) making [...] show full description
Latest Action: 04/29/2008 - Referred to the House Committee on Financial Services. Bill TextTo clarify the authority of the Federal Financing Bank to purchase loans guaranteed under part B of title IV of the Higher Education Act of 1965, and for other purposes. 4/29/2008--Introduced. Student Loan Access Act of 2008 - Authorizes the Federal Financing Bank, until July 1, 2009, to: (1) purchase guaranteed loans originated under the Federal Family Education Loan (FFEL) program of the Higher Education Act of 1965, or participation interests in such loans; (2) advance funds to eligible lenders for the purpose of originating or purchasing FFELs; and (3) invest in securities collateralized with FFELs. Prohibits such FFEL purchases from resulting in any net cost to the federal government. Permits the Secretary of the Treasury to extend the Bank's authority to take such actions beyond July 1, 2009, if economic conditions threaten timely, uninterrupted access to student loans.
Also tagged in: Accounting, Administrative procedure, Auctions, Bankruptcy, Budgets, Collection of accounts, Communications, Computer software, Conflict of interests, Congress, Congressional investigations, Congressional reporting requirements, Consumer education, Consumer protection, Consumers, Counseling, Criminal justice, Criminal justice information, Debt, Debtor and creditor, Department of Housing and Urban Development, Electronic data interchange, Eviction, Executive departments, Executive reorganization, Federal advisory bodies, Federal aid to housing, Federally-guaranteed loans, Fees, Finance, Financial services, Fines (Penalties), Foreclosure, Fraud, Government information, Government publications, Government publicity, Government trust funds, Home ownership, Housing, Housing finance, Identification of criminals, Income tax, Inspectors general, Insurance premiums, Law, Legal aid, Liens, Loan defaults, Mortgage banks, Mortgage guaranty insurance, Mortgage interest rates, Mortgages, Politics and government, Prosecution, Public prosecutors, Public service advertising, Real estate appraisal, Recruiting of employees, Rental housing, Risk, Secondary mortgage market, Settlement costs, Social services, Tax returns, Taxation, Technology, Telecommunication, Veterans, Veterans' benefits, Warranties
Latest Action: 05/05/2008 - Reported (Amended) by the Committee on Financial Services. H. Rept. 110-619. Bill TextTo create a voluntary FHA program that provides mortgage refinancing assistance to allow families to stay in their homes, protect neighborhoods, and help stabilize the housing market. 5/5/2008--Reported to House amended. (There is 1 other summary) FHA Housing Stabilization and Homeownership Retention Act of 2008 - Title I: Homeownership Retention - (Sec. 102) Amends the National Housing Act (NHA) to create the Refinance Program Oversight Board, which shall establish and oversee a program for insuring homeownership retention mortgages. Instructs the Secretary of Housing and Urban Development (HUD) to insure any homeownership retention mortgage covering a one- to four-family residence made to pay or prepay outstanding obligations under an existing mortgage on the residence. Sets forth mortgagor eligibility criteria, including mortgagor certification that: (1) the residence is the only residence in which the mortgagor has any present [...] show full description
Latest Action: 04/10/2008 - Sponsor introductory remarks on measure. (CR S2949-2950) Bill TextA bill to amend the Federal Home Loan Bank Act to allow Federal home loan banks to invest surplus funds in student loan securities and make advances for student loan financing, and for other purposes. 4/10/2008--Introduced. Emergency Student Loan Market Liquidity Act - Amends the Federal Home Loan Bank Act to allow federal home loan banks to: (1) invest surplus funds in student loan securities; (2) accept student loans and student loan-related securities as collateral; and (3) provide secured long-term advances to member banks so that they can finance the origination of student loans or purchase or finance student loan-related securities. Limits the application of this Act to Federal Family Education Loans (FFELs) made under the Higher Education Act of 1965. Makes the banks' authority effective for investments and advances made between February 1, 2008, and two years after this Act's enactment.
Latest Action: 04/08/2008 - Referred to the House Committee on Financial Services. Bill TextTo amend the Federal Home Loan Bank Act to allow Federal home loan banks to invest surplus funds in student loan securities and make advances for student loan financing, and for other purposes. 4/8/2008--Introduced. Emergency Student Loan Market Liquidity Act - Amends the Federal Home Loan Bank Act to allow federal home loan banks to: (1) invest surplus funds in student loan securities; (2) accept student loans and student loan-related securities as collateral; and (3) provide secured long-term advances to member banks so that they can finance the origination of student loans or purchase or finance student loan-related securities. Limits the application of this Act to Federal Family Education Loans (FFELs) made under the Higher Education Act of 1965. Makes the banks' authority effective for investments and advances made between February 1, 2008, and two years after this Act's enactment.
Also tagged in: Bonds, Brokers, Business, Capital gains tax, Corporation taxes, Education, Energy, Energy efficiency, Excise tax, Finance, Foreign exchange, Foreign tax credit, Foster home care, Government information, Government securities, Health facilities, Health policy, Higher education, Home ownership, Housing, Housing finance, |
