H.R. 5816 · 111th Congress
Commercial Real Estate Stabilization Act of 2010
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Never voted on. It didn't reach a floor vote before the 111th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
MinnickSponsor6 cosponsors · 4 D, 2 R
6 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Commercial Real Estate Stabilization Act of 2010 - Establishes an Oversight Board to: (1) advise the Secretary of the Treasury on the Commercial Real Estate Credit Guarantee Program (established by this Act); and (2) report quarterly to Congress on the Program and on the current state of the credit system in the United States with respect to commercial…
What it does: CRS summary · Introduced in House · Jul 22, 2010
Commercial Real Estate Stabilization Act of 2010 - Establishes an Oversight Board to: (1) advise the Secretary of the Treasury on the Commercial Real Estate Credit Guarantee Program (established by this Act); and (2) report quarterly to Congress on the Program and on the current state of the credit system in the United States with respect to commercial lending, small business, and commercial real estate lending.
Directs the Secretary to establish the Commercial Real Estate Credit Guarantee Program, under which the Secretary shall guarantee payments of interest and principal on an approved credit instrument.
Requires 50% of the Program to be used for small- and mid-sized institutions.
Permits loans for either owner-occupied or nonowner-occupied commercial real estate.
States that guarantees issued under this Act constitute general obligations of the United States, for which the full faith and credit of the United States is pledged.
Expresses the intent of Congress that the Program be utilized when such utilization proves beneficial, and not be unduly inhibited by concerns related to potential unfavorable regulatory accounting treatment.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Commercial Real Estate Stabilization Act of 2010
Latest action (Jul 22, 2010): Referred to the House Committee on Financial Services.
Policy area: Finance and Financial Sector · Origin: House · Introduced: Jul 22, 2010
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.