US Congress House Bill 2529 (Prior Session Legislation)

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Spectrum: Slight Partisan Bill (Democrat 5-2)
Status: Engrossed on July 30 2009 - 50% progression, died in chamber
Action: 2009-07-30 - Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Text: Latest bill text (Introduced) [PDF]

Neighborhood Preservation Act - Amends the Federal Deposit Insurance Act to authorize any depository institution (or affiliate) to lease, including lease with an option to purchase, to any individual for up to five years an interest in residential property which: (1) was or is security for an extension of credit by such depository institution (or affiliate); and (2) came under the institution's or affiliate's ownership or control through foreclosure (or a deed in lieu of foreclosure) on the extension of credit. Directs the federal banking agencies to jointly prescribe specified safety and soundness regulations, including minimum capital requirements for such institutions or affiliates. Permits extension of such a lease beyond five years if any federal or state law, including the Bank Holding Company Act of 1956, so permits. States this Act applies only to leases entered into during the two-year period beginning on the date of the enactment of this Act. States the intent of the Congress that: (1) no permanent change in policy on leasing foreclosed property is being established with respect to depository institutions and depository institution holding companies; and (2) bank leasing of foreclosed property authorized under this Act should not apply to leases entered into after such two-year period.

Neighborhood Preservation Act

Rep. Spencer Bachus [R-AL]	Sen. Joe Donnelly [D-IN]	Rep. Barney Frank [D-MA]	Rep. Al Green [D-TX]
Rep. Ruben Hinojosa [D-TX]	Rep. Eddie Johnson [D-TX]	Rep. Gary Miller [R-CA]

Date	Chamber	Action
2009-07-30		Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
2009-07-29		Motion to reconsider laid on the table Agreed to without objection.
2009-07-29		On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H8971-8973)
2009-07-29		DEBATE - The House proceeded with forty minutes of debate on H.R. 2529.
2009-07-29		Considered under suspension of the rules. (consideration: CR H8971-8973)
2009-07-29		Mr. Moore (KS) moved to suspend the rules and pass the bill, as amended.
2009-05-20		Referred to the House Committee on Financial Services.

Type	Source
Summary	https://www.congress.gov/bill/111th-congress/house-bill/2529/all-info
Text	https://www.congress.gov/111/bills/hr2529/BILLS-111hr2529ih.pdf
Text	https://www.congress.gov/111/bills/hr2529/BILLS-111hr2529eh.pdf