Skip to main content
HR 2529 111th Congress House Finance and Financial Sector Administrative law and regulatory procedures Bank accounts, deposits, capital Banking and financial institutions regulation Department of the Treasury Federal Deposit Insurance Corporation (FDIC) Federal Reserve System Housing finance and home ownership National Credit Union Administration

Neighborhood Preservation Act

Introduced: May 20, 2009 See on congress.gov
Sign in to write a letter Sign in to watch
 Everywhere this bill has been 9 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 30, 2009
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Jul 29, 2009
Motion to reconsider laid on the table Agreed to without objection.
Jul 29, 2009
On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H8971-8973)
Jul 29, 2009
Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.(text: CR H8971-8973)
Jul 29, 2009
DEBATE - The House proceeded with forty minutes of debate on H.R. 2529.
Jul 29, 2009
Considered under suspension of the rules. (consideration: CR H8971-8973)
Jul 29, 2009
Mr. Moore (KS) moved to suspend the rules and pass the bill, as amended.
May 20, 2009
Referred to the House Committee on Financial Services.
May 20, 2009
Introduced in House
 Plain-English summary Congressional Research Service

Neighborhood Preservation Act - Amends the Federal Deposit Insurance Act to authorize any depository institution (or affiliate) to lease, including lease with an option to purchase, to any individual for up to five years an interest in residential property which: (1) was or is security for an extension of credit by such depository institution (or affiliate); and (2) came under the institution's or affiliate's ownership or control through foreclosure (or a deed in lieu of foreclosure) on the extension of credit.

Directs the federal banking agencies to jointly prescribe specified safety and soundness regulations, including minimum capital requirements for such institutions or affiliates.

Permits extension of such a lease beyond five years if any federal or state law, including the Bank Holding Company Act of 1956, so permits.

States this Act applies only to leases entered into during the two-year period beginning on the date of the enactment of this Act.

States the intent of the Congress that: (1) no permanent change in policy on leasing foreclosed property is being established with respect to depository institutions and depository institution holding companies; and (2) bank leasing of foreclosed property authorized under this Act should not apply to leases entered into after such two-year period.

What's happening now July 30, 2009

Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

 Committees of jurisdiction 2
 Cosponsors 1
All 1 Democratic 1