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S 1678 97th Congress Senate Labor and Employment Employee benefit plans Housing and Community Development Housing and Housing Finance Interest Mortgages Real estate investment

A bill to amend the Employee Retirement Income Security Act of 1974 with regard to mortgage investments.

Introduced: September 29, 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 5 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jan 26, 1982
Subcommittee on Labor. Hearings held.
Oct 5, 1981
Referred to Subcommittee on Labor.
Oct 5, 1981
Committee on Labor and Human Resources requested executive comment from Labor Department; OMB.
Sep 29, 1981
Read second time and referred to Senate Committee on Labor and Human Resources.
Sep 29, 1981
Introduced in Senate
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 Plain-English summary Congressional Research Service

Amends the Employee Retirement Income Security Act of 1974 to provide that certain fiduciary duties under such Act shall be deemed satisfied by investments in residential housing mortgages that provide adequate security and a reasonable rate of interest.

Exempts from specified prohibitions under such Act the placing, investing, or purchase of a mortgage secured by residential housing property if such investment or sale: (1) is adequately secured; (2) is made in accordance with specific provisions regarding such loans set forth in the employee benefit plan; and (3) bears a reasonable rate of interest.

What's happening now January 26, 1982

Subcommittee on Labor. Hearings held.

 Related & companion bills 1
  • HR 4708 Identical bill A bill to amend the Employee Retirement Income Security Act of 1974 with regard to mortgage investments.
 Committees of jurisdiction 2
 Cosponsors 1
All 1 Republican 1
R
Grassley, Chuck
Iowa · Sep 29, 1981
Cite this page click to expand
APA
U.S. Congress. (2026). S. 1678: A bill to amend the Employee Retirement Income Security Act of 1974 with regard to mortgage investments.. 97th Congress. Open America. https://openamerica.io/bill/97-S-1678/
MLA
"S. 1678: A bill to amend the Employee Retirement Income Security Act of 1974 with regard to mortgage investments.." 97th Congress, 2026, Open America, https://openamerica.io/bill/97-S-1678/.
Bluebook (legal)
S. 1678, 97th Cong. (2026), https://openamerica.io/bill/97-S-1678/.
Markdown link
[S. 1678: A bill to amend the Employee Retirement Income Security Act of 1974 with regard to mortgage investments.](https://openamerica.io/bill/97-S-1678/)
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