An amendment to increase from $5 billion to $15 billion the amount of funds raised to cover defaults of savings and loan institutions insured by the Federal Savings and Loan Insurance Corporation (FSLIC). The amendment uses the same procedure as the bill to raise such funding, and it limits annual borrowing by the newly created Financing Corporation to $3.5 billion, and it also permits Congress to sunset the Financing Corporation's borrowing after two years if Congress enacts a joint resolution to do so.

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Amendment Number
70
Description
An amendment to increase from $5 billion to $15 billion the amount of funds raised to cover defaults of savings and loan institutions insured by the Federal Savings and Loan Insurance Corporation (FSLIC). The amendment uses the same procedure as the bill to raise such funding, and it limits annual borrowing by the newly created Financing Corporation to $3.5 billion, and it also permits Congress to sunset the Financing Corporation's borrowing after two years if Congress enacts a joint resolution to do so.
Congress
100
Type
HAMDT
Latest Action Date
May 5, 1987
Latest Action Text
Amendment Failed of Passage in Committee of Whole by Recorded Vote: 153 - 258 (Record Vote No: 83).
Submitted Date
May 5, 1987
Chamber
House of Representatives
Update Date
Aug 14, 2021
Amendment 70 — Informed