S 2918 · 97th Congress · Labor and Employment

Residential Mortgage Investment Act of 1982

Introduced 1982-09-16· Sponsored by Sen. Chafee, John H. [R-RI]· Senate

Bill Progress

✓
Introduced
2
Committee
3
Senate Vote
4
House
5
Enacted
Latest: Committee on Labor and Human Resources requested executive comment from Labor Department; OMB.(1982-09-27)

Plain Language Summary

[AI summary unavailable — showing source text] Residential Mortgage Investment Act of 1982 - Exempts any qualified mortgage transaction at arms-length engaged in by an employee benefit plan from specified prohibited transaction provisions of the Employee Retirement Income Security Act of 1974 and the Internal Revenue Code. Provides that such exemption shall supersede any and all State laws as they relate to qualified mortgage transactions to the extent engaged in by employee benefit plans.…

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

Cosponsors (20)

10 Democrats10 Republicans
Sen. Bentsen, Lloyd M. [D-TX]TX
Sen. Wallop, Malcolm [R-WY]WY
Sen. Mitchell, George J. [D-ME]ME
Sen. Danforth, John C. [R-MO]MO
Sen. Boren, David L. [D-OK]OK
Sen. Grassley, Chuck [R-IA]IA
Sen. Matsunaga, Spark M. [D-HI]HI
Sen. Garn, E. J. (Jake) [R-UT]UT
Sen. Heflin, Howell [D-AL]AL
Sen. Symms, Steven D. [R-ID]ID
Sen. Baucus, Max [D-MT]MT
Sen. Durenberger, Dave [R-MN]MN
Sen. Burdick, Quentin N. [D-ND]ND
Sen. Huddleston, Walter (Dee) [D-KY]KY
Sen. Bumpers, Dale [D-AR]AR
Sen. Tower, John G. [R-TX]TX
Sen. Percy, Charles H. [R-IL]IL
Sen. Cannon, Howard W. [D-NV]NV
Sen. Boschwitz, Rudy [R-MN]MN
Sen. Specter, Arlen [R-PA]PA