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HR 4243 98th Congress House Labor and Employment Employee benefit plans Federally-assisted loans Federally-guaranteed loans Housing and Community Development Housing and Housing Finance Housing finance Mortgages Real estate investment

Residential Mortgage Investment Act of 1983

Introduced: October 27, 1983 Introduced by: Wyden, Ron Democratic · Oregon See on congress.gov
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 Everywhere this bill has been 8 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Apr 30, 1984
Executive Comment Received From Pension Guaranty Corp.
Mar 27, 1984
Subcommittee Hearings Held.
Mar 23, 1984
Executive Comment Requested from Pension Guaranty Corp, IRS.
Mar 12, 1984
Executive Comment Received From Labor.
Nov 4, 1983
Referred to Subcommittee on Labor-Management Relations.
Oct 27, 1983
Referred to House Committee on Ways and Means.
Oct 27, 1983
Referred to House Committee on Education and Labor.
Oct 27, 1983
Introduced in House
 Plain-English summary Congressional Research Service

Residential Mortgage Investment Act of 1983 - Amends the Employee Retirement Income Security Act of 1974 and the Internal Revenue Code to exempt from specified prohibited transactions: (1) any qualified mortgage transaction engaged in by an employee benefit plan if such transaction received the prior approval of an independent fiduciary; (2) the purchase, retention, or sale by an employee benefit plan of interests in Federal or State guaranteed residential mortgage loans; and (3) any participation or dealings by an employee benefit plan in residential mortgage-backed securities if such securities bear one of the three highest ratings of a nationally recognized rating service.

Prohibits the promulgation of rules or orders which limit, interpret or implement: (1) the exemptions or definitions of this Act; and (2) the term "reasonable rate of interest."

What's happening now April 30, 1984

Executive Comment Received From Pension Guaranty Corp.

 Committees of jurisdiction 3