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HR 2600 103th Congress House Finance and Financial Sector Administrative remedies Bank examination Bank loans Brokers Commercial finance companies Community development Department of the Treasury Discrimination Federally-assisted loans Fees Government paperwork Investment banking Licenses Loans Secondary mortgage market Securities

Business, Commercial, and Community Development Secondary Market Development Act

Introduced: July 1, 1993 See on congress.gov
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 Everywhere this bill has been 10 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 9, 1994
Committee Consideration and Mark-up Session Held.
Mar 9, 1994
Ordered to be Reported (Amended) by the Yeas and Nays: 46 - 5.
Nov 3, 1993
Forwarded by Subcommittee to Full Committee (Amended) by Voice Vote.
Nov 3, 1993
Subcommittee Consideration and Mark-up Session Held.
Oct 7, 1993
Subcommittee Hearings Held.
Sep 23, 1993
Subcommittee Hearings Held.
Jul 15, 1993
Referred to the Subcommittee on Economic Growth and Credit Formation.
Jul 1, 1993
Referred to the House Committee on Banking, Finance + Urban Affrs.
Jul 1, 1993
Sponsor introductory remarks on measure. (CR E1701-1702)
Jul 1, 1993
Introduced in House
 Plain-English summary Congressional Research Service

Business, Commercial, and Community Development Secondary Market Development Act - Prescribes guidelines under which any person or governmental unit may be certified by the Secretary of the Treasury as a secondary market facilitating organization (organization) which raises capital for business, commercial, and community development by: (1) the placement of debt and equity securities; (2) the guarantee of timely payment of principal or interest on such securities; and (3) the sale or purchase of business, commercial, and community development debt and equity assets.

Provides for: (1) Federal examination and oversight of such organizations; (2) mandatory submission to the Secretary of annual organization status reports; and (3) assessments and fees for examination and administrative costs.

Declares that the obligations of the organizations are not backed by either the full faith and credit of the United States or any Federal guarantees.

Directs the Financial Institutions Examination Council to establish uniform reporting standards for such debt and equity investments for bank examination purposes.

What's happening now March 9, 1994

Ordered to be Reported (Amended) by the Yeas and Nays: 46 - 5.

 Committees of jurisdiction 2
 Cosponsors 1
All 1 Democratic 1