HR 4924 · 102th Congress · Finance and Financial Sector

Resolution Trust Corporation Reform Act of 1992

Introduced 1992-04-09· Sponsored by Rep. Jontz, Jim [D-IN-5]· House

Bill Progress

Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to the Subcommittee on Financial Institutions Supervision, Regulation and Insurance.(1992-05-04)

Plain Language Summary

[AI summary unavailable — showing source text] Resolution Trust Corporation Reform Act of 1992 - Title I: Serving the Real Economy - Subtitle A: Evaluation of Economic Impact - Amends the Home Loan Bank Act to require the Oversight Board and the Resolution Trust Corporation (RTC) to include in their semiannual report to the Congress an analysis of: (1) the impact that real property asset disposition by the RTC has had upon local real estate markets in certain metropolitan statistical areas in which it disposes of such property; (2) the efficacy of RTC procedures to ensure compliance with certain requirements to minimize the impact of RTC actions upon local real estate markets; and (3) specified details regarding RTC disposition of real property parcels. Requires the RTC, upon acquiring control of any asset, to: (1) evaluate the costs of holding and managing the property; and (2) take such evaluation into account when determining property disposition. Prohibits the RTC from disposing of any real property unless it has been appraised during the six-month period ending on the date of disposition. Subtitle B: Treatment of Residential Real Property Assets - Extends from 90 to 180 days after RTC notice the period in which qualifying …

Summarized by Claude AI · Non-partisan · For informational purposes only

Cosponsors (14)

12 Democrats2 Republicans