Latest Action: 09/12/2008 - Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Bill Text
To amend the Federal securities laws to enhance the effectiveness of the Securities and Exchange Commission's enforcement, corporation finance, trading and markets, investment management, and examination programs, and for other purposes. 9/11/2008--Passed House amended.    (There is 1 other summary) Securities Act of 2008 - (Sec. 2) Amends the Securities Act of 1933, the Securities Exchange Act of 1934, the Investment Advisers Act of 1940, and the Investment Company Act of 1940 to authorize the Securities and Exchange Commission (SEC) to assess and impose civil penalties in a cease and desist proceeding.Creates three tiers of increasing civil penalties for acts or omissions of increasing gravity.(Sec. 3) Authorizes the SEC to censure, place limitations on the activities or functions of, or investigate any person who at the time of specified alleged misconduct was: (1) a member or employee of the Municipal Securities Rulemaking Board; (2) [...]

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Latest Action: 09/09/2008 - Reported (Amended) by the Committee on Financial Services. H. Rept. 110-835.

Bill Text
To 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 [...]

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Latest Action: 05/05/2008 - Referred to the House Committee on Ways and Means.

Bill Text
To amend the Internal Revenue Code of 1986 to provide for reallocation of abandoned private activity bond volume cap.

5/5/2008--Introduced.

Affordable Housing Expansion Act of 2008 - Amends the Internal Revenue Code to allow the Secretary of the Treasury to allocate among the states in 2008 and subsequent years unused amounts of authorized private activity bonds for prior calendar years.

Latest Action: 05/07/2008 - Referred to the House Committee on Financial Services.

Bill Text
Expressing the sense of the House of Representatives that the People's Republic of China and all enterprises owned or controlled by the People's Republic of China should make proper disclosures with the Securities and Exchange Commission regarding the selective default status of certain bonds.

5/7/2008--Introduced.

Expresses the sense of the House of Representatives that the People's Republic of China and its government-owned and controlled enterprises should be required to properly disclose material information concerning the selective default status of specified bonds in all prospectuses and filings with the Securities and Exchange Commission.

Latest Action: 04/28/2008 - Referred to the Committee on Foreign Relations. (text of measure as introduced: CR S3448-3449)

Bill Text
A concurrent resolution expressing the sense of Congress that the People's Republic of China and all enterprises owned or controlled by the People's Republic of China should make proper disclosures with the Securities and Exchange Commission regarding the selective default status of certain bonds.

4/28/2008--Introduced.

Expresses the sense of Congress that the People's Republic of China and its government-owned and controlled enterprises should be required to properly disclose material information concerning the selective default status of specified bonds in all prospectuses and filings with the Securities and Exchange Commission.

Latest Action: 04/10/2008 - Referred to the House Committee on Ways and Means.

Bill Text
To amend the Internal Revenue Code of 1986 to impose a tax on the amount of wages in excess of the contribution and benefit base, and for other purposes.

4/10/2008--Introduced.

Social Security Forever Act of 2008 - Amends the Internal Revenue Code to impose on employers, employees, and self-employed individuals an additional employment tax for wages in excess of the social security contribution and benefit base.

Requires all Treasury securities to bear a facsimile of the signatures of the President and the Secretary of the Treasury.

Latest Action: 04/24/2008 - Reported (Amended) by the Committee on Ways and Means. H. Rept. 110-606.

Bill Text
To amend the Internal Revenue Code of 1986 to provide assistance for housing. 4/24/2008--Reported to House amended.    (There is 1 other summary) Housing Assistance Tax Act of 2008 - Title I: Housing Tax Incentives - Subtitle A: Multi-Family Housing - Part 1: Low-Income Housing Tax Credit - Amends Internal Revenue Code provisions relating to the low-income housing tax credit and tax-exempt bond rules for financing low-income housing projects.(Sec. 101) Increases in 2008 and 2009 the per capita amount of the low-income housing tax credit allocable by each state.(Sec. 102) Modifies rules for the low-income housing tax credit to: (1) eliminate the distinction between new and existing buildings for purposes of such credit; (2) establish a minimum credit rate for non-federally subsidized buildings; (3) set forth criteria for designating a building as federally subsidized and for considering federal assistance in calculating [...]

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Latest Action: 11/09/2007 - Referred to the House Committee on Financial Services.

Bill Text
To establish the Family Foreclosure Rescue Corporation to provide emergency relief to refinance home mortgages of homeowners in foreclosure or default.

11/9/2007--Introduced.

Family Foreclosure Rescue Corporation Act - Instructs the Secretary of the Treasury to establish the Family Foreclosure Rescue Corporation to acquire, via the sale of bonds, home mortgages and other obligations and liens secured by real estate which are currently in default or at foreseeable risk of default.

Latest Action: 11/06/2007 - Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Bill Text
A bill to establish a National Catastrophic Risks Consortium and a National Homeowners' Insurance Stabilization Program, and for other purposes. 11/6/2007--Introduced. Homeowners' Defense Act of 2007 - Establishes the National Catastrophe Risk Consortium as a nonprofit, nonfederal entity to: (1) maintain an inventory of catastrophe risk obligations held by state reinsurance funds, and state residual insurance market entities; (2) issue, on a conduit basis, securities and other financial instruments linked to catastrophe risks insured or reinsured through Consortium members; and (3) act as a centralized repository of state risk information accessible by certain private-market participants. Instructs the Secretary of the Treasury to implement a national homeowners' insurance stabilization program to make liquidity loans and catastrophic loans to qualified reinsurance programs to: (1) ensure their solvency; (2) improve the availability and affordability of homeowners' [...]

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Latest Action: 06/24/2008 - Committee Hearings Held.

Bill Text
To establish a commission to develop legislation designed to reform tax policy and entitlement benefit programs and ensure a sound fiscal future for the United States, and for other purposes. 9/25/2007--Introduced. Securing America's Future Economy Commission Act, or SAFE Commission Act - Establishes the Securing America's Future Economy (SAFE) Commission to develop legislation designed to address: (1) the unsustainable imbalance between long-term federal spending commitments and projected revenues; (2) increases in net national savings to provide for domestic investment and economic growth; (3) the implications of foreign ownership of federally issued debt instruments; and (4) revision of the budget process to place greater emphasis on long-term fiscal issues. Requires the Commission to: (1) develop one or two methods for estimating the cost of legislation as an alternative to the current Congressional Budget Office (CBO) method; and (2) hold at least one town-hall [...]

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Latest Action: 08/24/2007 - Referred to the Subcommittee on Research and Science Education.

Bill Text
To bridge the digital divide in rural areas. 8/3/2007--Introduced. Rural America Digital Accessibility Act - Authorizes the Secretary of Commerce to make grants or guarantee loans in order to facilitate the deployment by the private sector of broadband telecommunications networks and capabilities (including wireless and satellite services) to underserved rural areas. Limits to $100 million the total amount of such grants and loan guarantees.Requires the Director of the National Science Foundation to research the enhancement or facilitation of broadband telecommunications services in rural and other remote areas, as well as Internet access through such services. Amends the Internal Revenue Code to provide a tax credit to holders of qualified technology bonds (bonds representing an investment in projects to expand such telecommunications services). Sets a national technology bond limitation of $100 million for each of FY 2007 through 2011, and zero thereafter (with an exception) [...]

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Latest Action: 11/13/2007 - Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Bill Text
To ensure the availability and affordability of homeowners' insurance coverage for catastrophic events. 11/8/2007--Passed House amended.    (There are 2 other summaries) Homeowners' Defense Act of 2007 - Declares that the purpose of this Act is to provide federal support for state-sponsored insurance programs to: (1) help homeowners prepare for and recover from damages caused by natural catastrophes; and (2) promote the use of private market capital as a means to insure against such catastrophes.Title I: National Catastrophe Risk Consortium - (Sec. 101) Establishes the National Catastrophe Risk Consortium as a nonprofit, nonfederal entity to: (1) inventory catastrophe risk obligations held by state reinsurance funds, and state residual insurance market entities; (2) issue, on a conduit basis, securities and other financial instruments linked to catastrophe risks insured or reinsured through Consortium members; (3) act as a centralized repository [...]

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Latest Action: 08/04/2007 - Referred to the Subcommittee on Highways and Transit.

Bill Text
To establish the National Infrastructure Bank to provide funding for qualified infrastructure projects, and for other purposes.

8/3/2007--Introduced.

National Infrastructure Bank Act of 2007 - Establishes an independent National Infrastructure Bank to: (1) designate qualified transit, public housing, water, highway, bridge, or road infrastructure projects for loans, loan guarantees, and other financial assistance; and (2) issue general purpose and project-based infrastructure bonds exempt from state and local taxation.

Latest Action: 06/12/2008 - Committee on Banking, Housing, and Urban Affairs. Hearings held.

Bill Text
A bill to establish the National Infrastructure Bank to provide funding for qualified infrastructure projects, and for other purposes.

8/1/2007--Introduced.

National Infrastructure Bank Act of 2007 - Establishes an independent National Infrastructure Bank to: (1) designate qualified transit, public housing, water, highway, bridge, or road infrastructure projects for loans, loan guarantees, and other financial assistance; and (2) issue general purpose and project-based infrastructure bonds exempt from state and local taxation.

Latest Action: 07/31/2007 - Referred to the House Committee on Ways and Means.

Bill Text
To provide for the issuance of War on Radical Islam Bonds.

7/31/2007--Introduced.

Expresses the sense of Congress that the Secretary of the Treasury should designate one or more series of bonds or certificates as "War on Radical Islam Bonds."

Latest Action: 11/14/2007 - On motion to recommit to conference committee Failed by the Yeas and Nays: 182 - 231 (Roll no. 1101). (consideration: CR H13903)

Bill Text
Making appropriations for the Departments of Transportation, and Housing and Urban Development, and related agencies for the fiscal year ending September 30, 2008, and for other purposes. 9/12/2007--Passed Senate amended.    (There are 2 other summaries) Transportation, Housing and Urban Development, and Related Agencies Appropriations Act, 2008 - Title I: Department of Transportation - Department of Transportation Appropriations Act, 2008 - Makes appropriations for FY2008 to the Department of Transportation, including: (1) the Office of the Secretary; (2) the Federal Aviation Administration (FAA); (3) the Federal Highway Administration; (4) the Federal Motor Carrier Safety Administration; (5) the National Highway Traffic Safety Administration (NHTSA); (6) the Federal Railroad Administration; (7) the Federal Transit Administration (FTA); (8) the Saint Lawrence Seaway Development Corporation; (9) the Maritime Administration; (10) the Pipeline and [...]

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Latest Action: 10/02/2007 - Reported (Amended) by the Committee on Financial Services. H. Rept. 110-363.

Bill Text
To establish a demonstration program to authorize the Secretary of Housing and Urban Development to guarantee obligations issued by Indian tribes to finance community and economic development activities. 10/2/2007--Reported to House amended.    (There is 1 other summary) Native American Economic Development and Infrastructure for Housing Act of 2007 - (Sec. 2) Authorizes the Secretary of Housing and Urban Development to guarantee notes and obligations issued by Indian tribes or tribally designated housing entities, with tribal approval, to finance community and economic development activities on Indian reservations and in other Indian areas. Requires the use of at least 70% of the aggregate funds received as a result of such guarantee to support activities that benefit low-income Indian families. Directs the Secretary to establish underwriting criteria for such guarantees, including necessary fees, to ensure that the guarantee program is [...]

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Latest Action: 08/04/2007 - Rule provides for consideration of H.R. 3221 with 2 hours of general debate. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. Measure will be read by paragraph. Bill is op

Bill Text
To amend the Internal Revenue Code of 1986 to provide tax incentives for the production of renewable energy and energy conservation. 8/4/2007--Passed House amended.    (There are 2 other summaries) Renewable Energy and Energy Conservation Tax Act of 2007 - Amends Internal Revenue Code provisions relating to renewable energy sources and energy conservation. Title I: Production Incentives - (Sec. 101) Extends through 2012 the tax credit for the production of electricity from renewable resources (e.g., wind, closed and open-loop biomass, geothermal energy, small irrigation power, municipal solid waste, and qualified hydropower). Imposes a limit on such tax credit based upon investment in renewable resource facilities placed in service after 2008 in lieu of the current phaseout provisions for such credit.(Sec. 102) Includes marine and hydrokinetic renewable energy as a renewable resource for purposes of the tax credit for producing electricity [...]

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Latest Action: 05/24/2007 - Referred to the House Committee on Financial Services.

Bill Text
To amend title VI of the Native American Housing and Self-Determination Act of 1996 to authorize Indian tribes to issue notes and other obligations to finance community and economic development activities, and for other purposes.

5/24/2007--Introduced.

Tribal Economic Development and Infrastructure Support Act of 2007 - Amends the Native American Housing and Self-Determination Act of 1996 to: (1) authorize Indian tribes to issue notes and other obligations (guarantee loans) to finance community and economic development activities; and (2) require at least 70% of the aggregate funds received by an Indian tribe or tribally designated housing entity as a result of a guarantee under such Act to be used for the support of activities that benefit low-income Indian families on Indian reservations and other Indian areas.

Latest Action: 04/20/2007 - Referred to the Subcommittee on Immigration, Citizenship, Refugees, Border Security, and International Law.

Bill Text
To protect the environmental integrity of coral reefs and other coastal marine resources from exploration, development, and production activities for petroleum resources located in a maritime exclusive economic zone of the United States that is contiguous to a foreign exclusive economic zone. 3/26/2007--Introduced. Caribbean Coral Reef Protection Act -States that it shall be U.S. policy to: (1) undertake measures to deny the government of Cuba, the Cuban Communist Party, or any of their instrumentalities the financial resources to engage in activities that threaten U.S. national security and other interests, threaten Cuba's environment and natural resources and Florida's marine environment, and prolong the dictatorship that oppresses the Cuban people; and (2) deter foreign investments that would enhance the Cuban regime's ability to develop its petroleum resources. Amends the Cuban Liberty and Democratic Solidarity (LIBERTAD) Act of 1996 to exclude from U.S. entry [...]

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Latest Action: 05/17/2007 - Conference papers: Senate report and manager's statement and message on House action held at the desk in Senate.

Bill Text
An original concurrent resolution setting forth the congressional budget for the United States Government for fiscal year 2008 and including the appropriate budgetary levels for fiscal years 2007 and 2009 through 2012. 5/16/2007--Conference report filed in House.    (There are 4 other summaries) Sets forth the congressional budget for the federal government for FY2008, including the appropriate budgetary levels for FY2007 and FY2009-FY2012. Title I: Recommended Levels and Amounts - (Sec. 101) Lists recommended budgetary levels and amounts, for FY2007-FY2012, with respect to: (1) federal revenues; (2) new budget authority; (3) budget outlays; (4) deficits; (5) debt subject to limit; and (6) debt held by the public. (Sec. 102) Lists the appropriate levels of new budget authority, outlays, and administrative expenses for Social Security and specified major functional categories for FY2007-FY2012. Title II: Budget Process [...]

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