S.J.Res. 271 · 97th Congress · enacted
A joint resolution to make technical corrections in certain banking and related statutes.
Became Public Law No: 97-457.
Latest official action 1983-01-12 · Enacted
The bill, briefly
Makes technical corrections to the Garn-St. Germain Depository Institutions Act of 1982. Amends the Federal Deposit Insurance Act and the National Housing Act to provide that deferral of, or exemption from, State franchise taxes on deposits during a period of federal assistance to an insured bank applies to both interest and dividends paid on such deposits. Amends the Home Owner's Loan Act of 1933 to permit the Federal Home Loan Bank Board to examine savings banks that convert to Federal charter but maintain Federal Deposit Insurance Corporation insurance. Amends the Federal Deposit Insurance Act to provide that the preference for minority controlled institutions involved in extraordinary acquisitions applies to both commercial banks and thrifts. States that certain sunset provisions shall not apply to outstanding net worth certificates. Amends the Home Owners' Loan Act of 1933 to allow savings and loan associations to open demand accounts for themselves. Amends the Depository Institutions Deregulation Act of 1980 to declare that money market deposit accounts in all depository institutions will not be subject to the phase-in of certain reserve requirements under the Monetary Control Act of 1980. Amends the Home Owners' Loan Act of 1933 to grant savings and loan associations a five percent construction lending authority. Amends the Federal Home Loan Bank Act to allow banks that…
Congressional Research Service · 1982-12-13
Who reported lobbying on this bill?
Amount spent specifically on this bill: not disclosed
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Politicians behind the bill
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What happened after enactment?
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