HR 4924 · 102th Congress · Finance and Financial Sector
Resolution Trust Corporation Reform Act of 1992
Bill Progress
✓
Introduced2
Committee3
House Vote4
Senate5
EnactedLatest: Referred to the Subcommittee on Financial Institutions Supervision, Regulation and Insurance.(1992-05-04)
Plain Language Summary
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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