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HR 2828 97th Congress House Economics and Public Finance Finance and Financial Sector Government securities Local and Municipal Government Local finance National banks Securities and Investments State finance States

State and Local Government Financing Reform Act of 1981

Introduced: March 25, 1981 See on congress.gov
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This bill died when the 97th Congress ended
It never became law before the 97th Congress (1981–1982) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Apr 1, 1981
Referred to Subcommittee on Financial Institutions Supervision, Regulation and Insurance.
Mar 25, 1981
Referred to House Committee on Banking, Finance and Urban Affairs.
Mar 25, 1981
Introduced in House
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 Plain-English summary Congressional Research Service

State and Local Government Financing Reform Act of 1981 - Excludes from the Federal law limiting and restricting the corporate powers of national banking associations to deal in and underwrite investment securities, specified dealings in and underwriting of all other nongeneral obligations issued or guaranteed by or on behalf of a State or any political subdivision thereof (except special assessment obligations and industrial revenue bonds) which are at the time eligible for purchase by a national bank for its own account, subject to specified limitations.

Requires the Secretary of the Treasury to submit an annual report to the Congress showing the extent to which the business of underwriting and dealing in State and local obligations is being carried on by commercial banks as compared with other banking institutions with a view to determining the effect of the provisions of this Act on the institutional distribution of such business.

What's happening now April 1, 1981

Referred to Subcommittee on Financial Institutions Supervision, Regulation and Insurance.

 Related & companion bills 1
  • HR 4360 Identical bill State and Local Government Financing Reform Act of 1981
 Committees of jurisdiction 2
 Cosponsors 2
All 2 Democratic 1 Republican 1
D
Hoyer, Steny H.
Maryland · Nov 4, 1981
 R
Smith, Christopher H.
New Jersey · Jun 23, 1981
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 2828: State and Local Government Financing Reform Act of 1981. 97th Congress. Open America. https://openamerica.io/bill/97-HR-2828/
MLA
"H.R. 2828: State and Local Government Financing Reform Act of 1981." 97th Congress, 2026, Open America, https://openamerica.io/bill/97-HR-2828/.
Bluebook (legal)
H.R. 2828, 97th Cong. (2026), https://openamerica.io/bill/97-HR-2828/.
Markdown link
[H.R. 2828: State and Local Government Financing Reform Act of 1981](https://openamerica.io/bill/97-HR-2828/)
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