All Securities Legislation - Federal Government
S.3335 - A bill to amend the Internal Revenue Code of 1986 to extend certain expiring provisions, and for other purposes.
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 Text A 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 Comment on Bill H.R.6482 - To direct the Securities and Exchange Commission to establish both a process by which asset-backed instruments can be deemed eligible for NRSRO ratings and an initial list of such eligible asset-backed instruments.
Latest Action: 07/14/2008 - Referred to the House Committee on Financial Services. Bill Text To direct the Securities and Exchange Commission to establish both a process by which asset-backed instruments can be deemed eligible for NRSRO ratings and an initial list of such eligible asset-backed instruments. 7/14/2008--Introduced. Amends the Securities Exchange Act of 1934 to direct the Securities and Exchange Commission (SEC) to revise regulations relating to "asset-backed securities" to define an "NRSRO asset-backed securities" subset, which shall: (1) be the only asset-backed securities for which a credit rating agency may register and issue ratings as a nationally recognized statistical rating organization (NRSRO); and (2) be restricted to securities representing interests in pools of assets whose performance can be evaluated based on a documented history of predictable performance of similar assets, and which are contained in structures which also have a documented history of predictable performance. Requires the revision of such regulations [...] show full description H.R.6312 - To 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.
Latest Action: 06/25/2008 - Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Bill Text To 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 H.R.6308 - To ensure uniform and accurate credit rating of municipal bonds and provide for a review of the municipal bond insurance industry.
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 [...] show full description S.2957 - A 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.
Latest Action: 05/01/2008 - Sponsor introductory remarks on measure. (CR S3708-3710) Bill Text A 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 S.2920 - A bill to reauthorize and improve the financing and entrepreneurial development programs of the Small Business Administration, and for other purposes.
Latest Action: 04/28/2008 - Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 720. Bill Text A 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 H.R.5914 - To 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.
Latest Action: 04/29/2008 - Referred to the House Committee on Financial Services. Bill Text To 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. H.R.5830 - To 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.
Latest Action: 05/05/2008 - Reported (Amended) by the Committee on Financial Services. H. Rept. 110-619. Bill Text To 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 S.2847 - A 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.
Latest Action: 04/10/2008 - Sponsor introductory remarks on measure. (CR S2949-2950) Bill Text A 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. H.R.5723 - 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.
Latest Action: 04/08/2008 - Referred to the House Committee on Financial Services. Bill Text 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. 4/8/2008--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. H.R.5720 - To amend the Internal Revenue Code of 1986 to provide assistance for housing.
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 [...] show full description S.2794 - A bill to protect older Americans from misleading and fraudulent marketing practices, with the goal of increasing retirement security.
Latest Action: 04/01/2008 - Sponsor introductory remarks on measure. (CR S2297) Bill Text A bill to protect older Americans from misleading and fraudulent marketing practices, with the goal of increasing retirement security. 4/1/2008--Introduced.
Senior Investor Protection Act of 2008 - Directs the Attorney General to establish a program of grants to states to: (1) investigate and prosecute misleading and fraudulent marketing practices; or (2) develop educational materials and training aimed at reducing misleading and fraudulent marketing of financial products toward seniors. S.2730 - A bill to facilitate the participation of private capital and skills in the strategic, economic, and environmental development of a diverse portfolio of clean energy and energy efficiency technologies within the United States, to facilitate the commercialization and market penetration of the technologies, and for other purposes.
Latest Action: 07/15/2008 - Committee on Energy and Natural Resources. Date of scheduled hearing. SD-366. 10:00 a.m. Bill Text A bill to facilitate the participation of private capital and skills in the strategic, economic, and environmental development of a diverse portfolio of clean energy and energy efficiency technologies within the United States, to facilitate the commercialization and market penetration of the technologies, and for other purposes. 3/6/2008--Introduced. Clean Energy Investment Bank Act of 2008 - Establishes the Clean Energy Investment Bank of the United States, which shall be a U.S. agency and a government corporation.Requires the bank to assist in the financing, and facilitate the commercial use, of clean energy and energy efficient technologies within the United States. Authorizes the Bank to make investments: (1) in projects in the United States related to the production or use of energy that use a commercial technology that avoids, reduces, or sequesters one or more air pollutants or anthropogenic emissions of greenhouse gases more effectively than other technology [...] show full description H.R.5579 - To remove an impediment to troubled debt restructuring on the part of holders of residential mortgage loans, and for other purposes.
Latest Action: 05/01/2008 - Reported (Amended) by the Committee on Financial Services. H. Rept. 110-615. Bill Text To remove an impediment to troubled debt restructuring on the part of holders of residential mortgage loans, and for other purposes. 5/1/2008--Reported to House amended. (There is 1 other summary) Emergency Mortgage Loan Modification Act of 2008 - Establishes a standard for loan modifications or workout plans for pools of certain residential mortgage loans. States that the servicer of such pooled loans owes a duty to the securitization vehicle to maximize recovery of proceeds for the benefit of all investors and holders of beneficial interests in the pooled loans, in the aggregate, and not to any individual party or group of parties. Deems the loan servicer to be acting on behalf of the securitization vehicle in the best interest of all such investors and holders if the servicer makes certain loss mitigation efforts for a loan in or facing payment default in the reasonable belief that the particular modification, workout plan, or other [...] show full description H.R.5519 - To advance credit union efforts to promote economic growth, modify credit union regulatory standards and reduce burdens, and for other purposes.
Latest Action: 03/03/2008 - Referred to the House Committee on Financial Services. Bill Text To advance credit union efforts to promote economic growth, modify credit union regulatory standards and reduce burdens, and for other purposes. 3/3/2008--Introduced. Credit Union Regulatory Relief Act of 2008 - 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. Excludes credit union loans to nonprofit religious organizations from limitations placed upon member business loans. Authorizes the National Credit Union Administration Board (Board) to establish longer loan maturity dates.Directs the Board to prescribe criteria for continued membership of certain member groups in the case of certain credit union conversions to a community charter. Revises requirements for credit union membership [...] show full description S.2612 - A bill to provide economic stimulus for small business concerns.
Latest Action: 04/16/2008 - Committee on Small Business and Entrepreneurship. Hearings held. Bill Text A bill to provide economic stimulus for small business concerns. 2/7/2008--Introduced.
Small Business Lending Stimulus Act of 2008 - Directs the Administrator of the Small Business Administration (SBA) to reduce in 2008 the rate of certain loan fees imposed under the Small Business Act and debenture fees under the Small Business Investment Act of 1958. Authorizes appropriations for FY2008: (1) to cover such rate reductions; and (2) for direct loans and assistance under the SBA Microloan Program. Amends the Small Business Investment Act of 1958 to authorize the SBA to refinance certain existing debt of small businesses that received prior loans for plant acquisition, construction, conversion, or expansion. H.R.4896 - To amend title II of the Social Security Act to provide that a duty of the Board of Trustees of the Social Security Trust funds is to hold them in trust for the beneficiaries and to ensure that the assets of such trust funds are not diverted, and to authorize investment of such trust funds in securities that are not limited to obligations of the United States or obligations guaranteed as to principal and interest by the United States.
Latest Action: 12/20/2007 - Referred to the Subcommittee on Social Security. Bill Text To amend title II of the Social Security Act to provide that a duty of the Board of Trustees of the Social Security Trust funds is to hold them in trust for the beneficiaries and to ensure that the assets of such trust funds are not diverted, and to authorize investment of such trust funds in securities that are not limited to obligations of the United States or obligations guaranteed as to principal and interest by the United States. 12/19/2007--Introduced. Social Security Trust Funds Investment Act of 2007 - Amends title II (Old Age, Survivors and Disability Insurance) (OASDI) of the Social Security Act to revise the duty of the Board of Trustees of the Social Security Trust Funds is to hold the Funds. Specifies that it is a duty to hold the Funds in trust for the beneficiaries and to ensure that the assets of the Funds are not diverted.Authorizes investment of the Funds in securities that are not limited to obligations of the United States or obligations guaranteed [...] show full description S.2362 - A bill to amend the Internal Revenue Code of 1986 to provide an additional standard deduction for real property taxes for nonitemizers.
Latest Action: 11/15/2007 - Read twice and referred to the Committee on Finance. Bill Text A bill to amend the Internal Revenue Code of 1986 to provide an additional standard deduction for real property taxes for nonitemizers. 11/15/2007--Introduced.
Property Tax Fairness Act of 2007 - Amends the Internal Revenue Code to: (1) allow an additional standard tax deduction in 2007 or 2008 (available to taxpayers who do not itemize) for state and local real property taxes; and (2) include within the reporting requirements of investment brokers the adjusted basis of any security owned by customers of such brokers. H.R.4178 - To amend the Truth in Lending Act to remove an impediment to troubled debt restructuring on the part of holders of residential mortgage loans, and for other purposes.
Latest Action: 11/14/2007 - Referred to the House Committee on Financial Services. Bill Text To amend the Truth in Lending Act to remove an impediment to troubled debt restructuring on the part of holders of residential mortgage loans, and for other purposes. 11/14/2007--Introduced.
Emergency Mortgage Loan Modification Act of 2007- Amends the Truth in Lending Act to shield holders of residential mortgage loans from liability for entering into a qualified loan modification or workout plan on any residential mortgage loan consummated on or after January 1, 2004. Applies such shield from liability only to qualified loan modification or workout plans initiated during the six-month period beginning on the date of the enactment of this Act. S.2310 - A bill to establish a National Catastrophic Risks Consortium and a National Homeowners' Insurance Stabilization Program, and for other purposes.
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' [...] show full description S.2288 - A bill to establish portfolio quality standards, improve lender oversight by the Small Business Administration, create economic outcome and performance measurements, strengthen the loan programs under section 7(a) of the Small Business Act and title V of the Small Business Investment Act of 1958, and for other purposes.
Latest Action: 11/01/2007 - Sponsor introductory remarks on measure. (CR S13689) Bill Text A bill to establish portfolio quality standards, improve lender oversight by the Small Business Administration, create economic outcome and performance measurements, strengthen the loan programs under section 7(a) of the Small Business Act and title V of the Small Business Investment Act of 1958, and for other purposes. 11/1/2007--Introduced. Small Business Lending Oversight and Program Performance Improvement Act of 2007 - Directs the Administrator of the Small Business Administration (SBA) to develop and publish portfolio quality evaluation standards to evaluate the loan portfolios of lenders participating in the section 7(a) (SBA-guaranteed loans to small businesses) and 504 (financing to small businesses funded by SBA-guaranteed debentures) programs of the Small Business Act. Requires the standards to measure the rates of loan liquidation, currency, recovery, and delinquency, and to be used by the Administrator to determine lender portfolio quality and to conduct lender [...] show full description S.2092 - A bill to amend title 11, United States Code, to improve protections for employees and retirees in business bankruptcies.
Latest Action: 09/25/2007 - Sponsor introductory remarks on measure. (CR S12063) Bill Text A bill to amend title 11, United States Code, to improve protections for employees and retirees in business bankruptcies. 9/25/2007--Introduced. Protecting Employees and Retirees in Business Bankruptcies Act of 2007 - Amends federal bankruptcy law to increase the maximum amount per individual or corporation of unsecured claims ranked in the fourth (wages, salaries, or commissions) and fifth (employee benefit plan contributions) order of priority. Includes within the scope of a claim in bankruptcy certain equity securities held in a defined contribution plan for the benefit of certain individuals. Ranks in sixth order of priority the diminished value of debtor's equity securities held in a defined contribution plan if the employer or plan sponsor committed fraud regarding the plan. Permits within administrative expenses certain severance pay for termination or layoffs. Prohibits certain senior executive compensation from being disproportionate in [...] show full description H.R.3652 - To amend title 11, United States Code, to improve protections for employees and retirees in business bankruptcies.
Latest Action: 10/12/2007 - Referred to the Subcommittee on Commercial and Administrative Law. Bill Text To amend title 11, United States Code, to improve protections for employees and retirees in business bankruptcies. 9/25/2007--Introduced. Protecting Employees and Retirees in Business Bankruptcies Act of 2007 - Amends federal bankruptcy law to increase the maximum amount per individual or corporationof unsecured claims ranked in the fourth (wages, salaries, or commissions) and fifth (employee benefit plan contributions) order of priority. Includes within the scope of a claim in bankruptcy certain equity securities held in a defined contribution plan for the benefit of certain individuals.Ranks in sixth order of priority the diminished value of debtor's equity securities held in a defined contribution plan if the employer or plan sponsor committed fraud regarding the plan.Permits within administrative expenses certain severance pay for termination or layoffs.Prohibits certain senior executive compensation from being disproportionate in light of economic [...] show full description H.R.3501 - To amend the Internal Revenue Code of 1986 to provide that indebtedness incurred by a partnership in acquiring securities and commodities is not treated as acquisition indebtedness by organizations which are limited partners for purposes of the unrelated business income tax.
Latest Action: 09/07/2007 - Referred to the House Committee on Ways and Means. Bill Text To amend the Internal Revenue Code of 1986 to provide that indebtedness incurred by a partnership in acquiring securities and commodities is not treated as acquisition indebtedness by organizations which are limited partners for purposes of the unrelated business income tax. 9/7/2007--Introduced.
Amends Internal Revenue Code provisions relating to the tax on the unrelated business income of tax-exempt organizations to exempt from treatment as acquisition indebtedness (subject to the unrelated business income tax) indebtedness incurred or continued by a limited partnership in a partnership to purchase or carry certain securities or commodities. H.R.3505 - To make various technical and clerical amendments to the Federal securities laws.
Latest Action: 12/07/2007 - Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Bill Text To make various technical and clerical amendments to the Federal securities laws. 12/6/2007--Passed House amended. (There is 1 other summary)
Securities Law Technical Corrections Act of 2007 - Makes technical corrections to the following Acts: (1) the Securities Act of 1933; (2) the Securities Exchange Act of 1934; (3) the Trust Indenture Act of 1939; (4) the Investment Company Act of 1940; and (5) the Investment Advisers Act of 1940. Amends the following statutes to make conforming amendments for the repeal of the Public Utility Holding Company Act of 1935: (1) the Securities Exchange Act of 1934; (2) the Trust Indenture Act of 1939; (3) the Investment Company Act of 1940; and (4) the Investment Advisers Act of 1940. H.R.3355 - To ensure the availability and affordability of homeowners' insurance coverage for catastrophic events.
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 [...] show full description S.2002 - A bill to amend the Internal Revenue Code of 1986 to simplify certain provisions applicable to real estate investment trusts, and for other purposes.
Latest Action: 08/03/2007 - Sponsor introductory remarks on measure. (CR S10931-10932) Bill Text A bill to amend the Internal Revenue Code of 1986 to simplify certain provisions applicable to real estate investment trusts, and for other purposes. 8/3/2007--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. H.R.3220 - Moving the United States toward greater energy independence and security, developing innovative new technologies, reducing carbon emissions, creating green jobs, protecting consumers, increasing clean renewable energy production, and modernizing our energy infrastructure.
|
