3.0.0 2422 2023-01-15T04:49:05Z 2023-01-15T04:49:05Z Senate S S 2004-05-13 108 ssfi00 Finance Committee Senate Standing Referred to 2004-05-13T21:33:50Z 108 4113 HR 2004-04-01 Referred to the House Committee on Ways and Means. Identical bill CRS 2004-05-13 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S5481) IntroReferral 2004-05-13 Sponsor introductory remarks on measure. (CR S5480-5481) IntroReferral B00100 9 Library of Congress 2004-05-13 Introduced in Senate IntroReferral 10000 9 Library of Congress S001142 Sen. Smith, Gordon H. [R-OR] GORDON SMITH R OR H. N C000705 Sen. Conrad, Kent [D-ND] KENT CONRAD D ND 2004-05-13 True S000888 Sen. Stevens, Ted [R-AK] THEODORE STEVENS R AK F. 2004-06-24 False C001040 Sen. Chafee, Lincoln [R-RI] LINCOLN CHAFEE R RI D. 2004-07-22 False S000059 Sen. Santorum, Rick [R-PA] RICK SANTORUM R PA 2004-07-22 False H001028 Sen. Hagel, Chuck [R-NE] CHUCK HAGEL R NE 2004-10-07 False Taxation Economics and Public Finance Finance and Financial Sector Government securities Housing and Community Development Income tax Law Loan defaults Mortgages Secondary mortgage market Tax penalties Trusts and trustees Taxation

00 2004-05-13 Introduced in Senate 2004-07-13T20:30:55Z Amends the Internal Revenue Code to permit certain amendments, waivers, or other modifications to mortgages held by a Real Estate Mortgage Investment Conduit (REMIC) or a Grantor Trust without disqualifying such mortgages as REMIC or Grantor Trust mortgages. Permits amendments, waivers, or modifications that do not: (1) extend the final maturity date of a mortgage; (2) increase the outstanding balance of the mortgage; (3) result in the release of an interest in real property securing the mortgage; or (4) result in an instrument or property right which is not debt for Federal income tax purposes. Exempts such amendments, waivers, or modifications from the penalty for prohibited transactions.

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Display Title Official Title as Introduced Introduced in Senate IS Introduced in Senate 2004-05-13T04:00:00Z 2004-05-13 Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S5481) text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.