An amendment to require the RTC to report exactly how they are using the funds allocated and to require the RTC to determine the least costly method for the fund to resolve an insolvent thrift and to act according to such a determination. The amendment allows the RTC to sell affordable housing from conservatorships to qualified applicants which eases the requirement from which the RTC is currently allowed to sell affordable housing. The amendment also requires the RTC to create a separate list of the properties that they are holding which have certain significant attributes. Specifically, the RTC is required to list properties that have natural, cultural, scientific, or recreational value. A government agency or a qualified non-profit organization would be given a 90 day right-of-first-refusal to purchase the property in order to maintain their specific qualities. Finally, the amendment establishes a goal for the RTC of 25% of the contracting activity to be designated as follows: 15% to minority owned business and 10% to businesses owned by women. Compliance with this goal would be encouraged but not required.

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Amendment Number
17
Description
An amendment to require the RTC to report exactly how they are using the funds allocated and to require the RTC to determine the least costly method for the fund to resolve an insolvent thrift and to act according to such a determination. The amendment allows the RTC to sell affordable housing from conservatorships to qualified applicants which eases the requirement from which the RTC is currently allowed to sell affordable housing. The amendment also requires the RTC to create a separate list of the properties that they are holding which have certain significant attributes. Specifically, the RTC is required to list properties that have natural, cultural, scientific, or recreational value. A government agency or a qualified non-profit organization would be given a 90 day right-of-first-refusal to purchase the property in order to maintain their specific qualities. Finally, the amendment establishes a goal for the RTC of 25% of the contracting activity to be designated as follows: 15% to minority owned business and 10% to businesses owned by women. Compliance with this goal would be encouraged but not required.
Purpose
Amendment in the nature of a substitute sought to: 1) authorize $30 billion in funding for the Resolution Trust Corporation (RTC); 2) require the RTC to submit a detailed plan on how the additional funds are to be expended; 3) require the RTC to use the least costly method in resolving failed savings and loans cases; 4) make changes to speed up the sales in the affordable housing program; 5) make changes in the handling, cataloging and sale of properties that have a natural, cultural, recreational or scientific values of special significance; and 6) make changes in RTC contracting to ensure specific goals for including minority- and women-owned companies.
Congress
102
Type
HAMDT
Latest Action Date
Mar 12, 1991
Latest Action Text
On agreeing to the Gonzalez amendment (A003) Failed by recorded vote: 121 - 303 (Roll no. 41).
Latest Action Time
20:36:58
Submitted Date
Mar 12, 1991
Chamber
House of Representatives
Update Date
Jun 7, 2021
Amendment 17 — Informed