3.0.0 3355 2023-01-11T20:37:42Z 2023-01-11T20:37:42Z House H HR 2007-08-03 110 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Standing Referred to 2007-11-13T23:09:29Z hsba00 Financial Services Committee House Standing hsba16 Capital Markets Subcommittee Hearings by 2007-09-06T14:58:29Z Referred to 2007-09-05T18:47:14Z hsba04 Housing and Insurance Subcommittee Hearings by 2007-09-06T14:57:57Z Referred to 2007-09-05T18:46:47Z Reported by 2007-10-31T22:55:14Z Markup by 2007-09-26T14:48:10Z Referred to 2007-08-03T13:00:15Z H. Rept. 110-419 Homeowners' Defense Act of 2007 110 2310 S 2007-11-06 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Related bill CRS Providing for consideration of the bill (H.R. 3355) to ensure the availability and affordability of homeowners' insurance coverage for catastrophic events. 110 802 HRES 2007-11-08 Motion to reconsider laid on the table Agreed to without objection. 14:58:03 Procedurally-related House 2007-11-13 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. IntroReferral 2007-11-08 19:46:01 The Clerk was authorized to correct section numbers, punctuation, and cross references, and to make other necessary technical and conforming corrections in the engrossment of H.R. 3355. Floor H38900 2 House floor actions 2007-11-08 19:46:00 Motion to reconsider laid on the table Agreed to without objection. Floor H38310 2 House floor actions 2007-11-08 19:45:59 On passage Passed by recorded vote: 258 - 155 (Roll no. 1074). Floor H37100 2 House floor actions 1074 https://clerk.house.gov/evs/2007/roll1074.xml House 110 2007-11-09T00:45:59Z 1 2007-11-08 19:45:59 Passed/agreed to in House: On passage Passed by recorded vote: 258 - 155 (Roll no. 1074). Floor 8000 9 Library of Congress 1074 https://clerk.house.gov/evs/2007/roll1074.xml House 110 2007-11-09T00:45:59Z 1 2007-11-08 19:38:26 On motion to recommit with instructions Failed by recorded vote: 175 - 239 (Roll no. 1073). Floor H36110 2 House floor actions hsba00 Financial Services Committee 1073 https://clerk.house.gov/evs/2007/roll1073.xml House 110 2007-11-09T00:38:26Z 1 2007-11-08 19:20:16 The previous question on the motion to recommit with instructions was ordered without objection. (consideration: CR H13368) Floor H8A000 2 House floor actions 2007-11-08 19:09:30 DEBATE - The House proceeded with 10 minutes of debate on the Capito motion to recommit with instructions. The instructions contained in the motion see to require the bill to be reported back to the House with amendments adding a new section pertaining to prohibiting cross-subsidization from middle america. Floor H8D000 2 House floor actions 2007-11-08 19:08:55 Mrs. Capito moved to recommit with instructions to Financial Services. (consideration: CR H13367-13368; text: CR H13367) Floor H36100 2 House floor actions hsba00 Financial Services Committee 2007-11-08 19:07:50 The House adopted the amendment in the nature of a substitute as agreed to by the Committee of the Whole House on the state of the Union. (text: CR H13345-13348) Floor H34400 2 House floor actions 2007-11-08 19:07:39 The previous question was ordered pursuant to the rule. (consideration: CR H13367) Floor H35000 2 House floor actions 2007-11-08 19:06:35 The House rose from the Committee of the Whole House on the state of the Union to report H.R. 3355. Floor H32600 2 House floor actions 2007-11-08 17:51:41 DEBATE - The Committee of the Whole proceeded with debate on the Campbell amendment under the five-minute rule. Floor H8D000 2 House floor actions 2007-11-08 17:48:52 VACATING REQUEST FOR RECORDED VOTE - Mr. Putnam asked unanimous consent to vacate his earlier request for a recorded vote on his amendment, to the end that the Chair put the question de novo. Agreed to without objection. Floor H8D000 2 House floor actions 2007-11-08 17:48:29 POSTPONED PROCEEDINGS - At the conclusion of debate on the Shays amendment, the Chair put the question on adoption of the amendment and by voice vote, announced that the noes had prevailed. Mr. Shays demanded a recorded vote and the Chair postponed further proceedings on the question of adoption of the amendment until later in the legislative day. Floor H8D000 2 House floor actions 2007-11-08 17:34:46 DEBATE - The Committee of the Whole proceeded with debate on the Shays amendment in the nature of a substitute under the five-minute rule. Floor H8D000 2 House floor actions 2007-11-08 17:33:36 POSTPONED PROCEEDINGS - At the conclusion of debate on the Putnam amendment, the Chair put the question on adoption of the amendment and by voice vote, announced that the ayes had prevailed. Mr. Putnam demanded a recorded vote and the Chair postponed further proceedings on the question of adoption of the amendment until later in the legislative day. Floor H8D000 2 House floor actions 2007-11-08 17:27:55 DEBATE - The Committee of the Whole proceeded with debate on the Putnam amendment under the five-minute rule. Floor H8D000 2 House floor actions 2007-11-08 17:19:24 DEBATE - The Committee of the Whole proceeded with debate on the Brown-Waite (FL) amendment under the five-minute rule. Floor H8D000 2 House floor actions 2007-11-08 17:17:37 The Committee resumed its sitting. Floor H8D000 2 House floor actions 2007-11-08 17:16:53 The Committee of the Whole rose informally to receive a communication from the President. Floor H8D000 2 House floor actions 2007-11-08 17:12:11 DEBATE - The Committee of the Whole proceeded with debate on the Matheson amendment under the five-minute rule. Floor H8D000 2 House floor actions 2007-11-08 17:11:08 POSTPONED PROCEEDINGS - At the conclusion of debate on the Manzullo amendment, the Chair put the question on adoption of the amendment and by voice vote, announced that the noes had prevailed. Mr. Manzullo demanded a recorded vote and the Chair postponed further proceedings on the question of adoption of the amendment until later in the legislative day. Floor H8D000 2 House floor actions 2007-11-08 16:57:49 DEBATE - The Committee of the Whole proceeded with debate on the Manzullo amendment under the five-minute rule. Floor H8D000 2 House floor actions 2007-11-08 16:53:00 DEBATE - The Committee of the Whole proceeded with debate on the Castor amendment under the five-minute rule. Floor H8D000 2 House floor actions 2007-11-08 16:51:46 POSTPONED PROCEEDINGS - At the conclusion of debate on the Roskam amendment, the Chair put the question on adoption of the amendment and by voice vote, announced that the noes had prevailed. Mr. Roskam demanded a recorded vote and the Chair postponed further proceedings on the question of adoption of the amendment until later in the legislative day. Floor H8D000 2 House floor actions 2007-11-08 16:37:10 DEBATE - The Committee of the Whole proceeded with debate on the Roskam amendment under the five-minute rule. Floor H8D000 2 House floor actions 2007-11-08 16:28:05 DEBATE - The Committee of the Whole proceeded with debate on the Murphy (CT) amendment under the five-minute rule. Floor H8D000 2 House floor actions 2007-11-08 16:26:31 POSTPONED PROCEEDINGS - At the conclusion of debate on the Roskam amendment, the Chair put the question on adoption of the amendment and by voice vote, announced that the noes had prevailed. Mr. Roskam demanded a recorded vote and the Chair postponed further proceedings on the question of adoption of the amendment until later in the legislative day. Floor H8D000 2 House floor actions 2007-11-08 16:15:40 DEBATE - The Committee of the Whole proceeded with debate on the Roskam amendment under the five-minute rule. Floor H8D000 2 House floor actions 2007-11-08 16:14:53 POSTPONED PROCEEDINGS - At the conclusion of debate on the Klein amendment, the Chair put the question on adoption of the amendment and by voice vote, announced that the ayes had prevailed. Mrs. Capito demanded a recorded vote and the Chair postponed further proceedings on the question of adoption of the amendment until later in the legislative day. Floor H8D000 2 House floor actions 2007-11-08 16:02:14 DEBATE - The Committee of the Whole proceeded with debate on the Klein amendment under the five-minute rule. Floor H8D000 2 House floor actions 2007-11-08 15:09:25 GENERAL DEBATE - The Committee of the Whole proceeded with one hour of general debate on H.R. 3355. Floor H8D000 2 House floor actions 2007-11-08 15:08:54 The Speaker designated the Honorable Mike Ross to act as Chairman of the Committee. Floor H32400 2 House floor actions 2007-11-08 15:08:53 House resolved itself into the Committee of the Whole House on the state of the Union pursuant to H. Res. 802 and Rule XVIII. Floor H32020 2 House floor actions 2007-11-08 15:08:42 Rule provides for consideration of H.R. 3355 with 1 hour of general debate. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. Measure will be considered read. Specified amendments are in order. All points of order against consideration of the bill are waive except those arising under clause 9 or 10 of rule XXI. It shall be in order to consider as an original bill for the purpose of amendment under the five-minute rule the amendment in the nature of a substitute recommended by the Committee on Financial Services now printed in the bill. Floor H8D000 2 House floor actions 2007-11-08 15:08:37 Considered under the provisions of rule H. Res. 802. (consideration: CR H13337-13370) Floor H30000 2 House floor actions 2007-11-08 14:58:02 Rule H. Res. 802 passed House. Floor H1L220 2 House floor actions 2007-11-06 21:35:29 Rules Committee Resolution H. Res. 802 Reported to House. Rule provides for consideration of H.R. 3355 with 1 hour of general debate. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. Measure will be considered read. Specified amendments are in order. All points of order against consideration of the bill are waive except those arising under clause 9 or 10 of rule XXI. It shall be in order to consider as an original bill for the purpose of amendment under the five-minute rule the amendment in the nature of a substitute recommended by the Committee on Financial Services now printed in the bill. Floor H1L210 2 House floor actions 2007-10-31 Placed on the Union Calendar, Calendar No. 264. Calendars H12410 2 House floor actions U00264 2007-10-31 Reported (Amended) by the Committee on Financial Services. H. Rept. 110-419. Committee H12200 2 House floor actions hsba00 Financial Services Committee 2007-10-31 Reported (Amended) by the Committee on Financial Services. H. Rept. 110-419. Committee 5000 9 Library of Congress hsba00 Financial Services Committee 2007-09-26 hsba00 Financial Services Committee 1 House committee actions Ordered to be Reported (Amended) by the Yeas and Nays: 36 - 27. Committee 2007-09-26 hsba00 Financial Services Committee 1 House committee actions Committee Consideration and Mark-up Session Held. Committee 2007-09-25 hsba00 Financial Services Committee 1 House committee actions Committee Consideration and Mark-up Session Held. Committee 2007-09-06 hsba16 Capital Markets Subcommittee 1 House committee actions Subcommittee Hearings Held. Committee 2007-09-06 hsba04 Housing and Insurance Subcommittee 1 House committee actions Subcommittee Hearings Held. Committee 2007-09-05 hsba16 Capital Markets Subcommittee 1 House committee actions Referred to the Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises. Committee 2007-09-05 hsba04 Housing and Insurance Subcommittee 1 House committee actions Referred to the Subcommittee on Housing and Community Opportunity. Committee 2007-08-03 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2007-08-03 Introduced in House IntroReferral Intro-H 9 Library of Congress 2007-08-03 Introduced in House IntroReferral 1000 9 Library of Congress K000366 Rep. Klein, Ron [D-FL-22] Ron Klein D FL 22 N M001164 Rep. Mahoney, Tim [D-FL-16] Tim Mahoney D FL 16 2007-08-03 True A000014 Rep. Abercrombie, Neil [D-HI-1] NEIL ABERCROMBIE D HI 1 2007-09-04 False A000363 Rep. Arcuri, Michael A. [D-NY-24] Michael Arcuri D NY A. 24 2007-09-04 False B001259 Rep. Braley, Bruce L. [D-IA-1] Bruce Braley D IA L. 1 2007-09-04 False B000911 Rep. Brown, Corrine [D-FL-3] CORRINE BROWN D FL 3 2007-09-04 False C001061 Rep. Cleaver, Emanuel [D-MO-5] Emanuel Cleaver D MO 5 2007-09-04 False C000537 Rep. Clyburn, James E. [D-SC-6] JAMES CLYBURN D SC E. 6 2007-09-04 False C000868 Rep. Cramer, Robert E. (Bud), Jr. [D-AL-5] ROBERT CRAMER D AL E. 5 2007-09-04 False C001038 Rep. Crowley, Joseph [D-NY-7] JOSEPH CROWLEY D NY 7 2007-09-04 False E000287 Rep. Emanuel, Rahm [D-IL-5] Rahm Emanuel D IL 5 2007-09-04 False F000030 Rep. Farr, Sam [D-CA-17] SAM FARR D CA 17 2007-09-04 False H001040 Rep. Hare, Phil [D-IL-17] Phil Hare D IL 17 2007-09-04 False H000324 Rep. Hastings, Alcee L. [D-FL-23] ALCEE HASTINGS D FL L. 23 2007-09-04 False H001030 Rep. Hill, Baron P. [D-IN-9] BARON HILL D IN P. 9 2007-09-04 False H001042 Rep. Hirono, Mazie K. [D-HI-2] Mazie Hirono D HI K. 2 2007-09-04 False I000026 Rep. Inslee, Jay [D-WA-1] JAY INSLEE D WA 1 2007-09-04 False J000288 Rep. Johnson, Henry C. "Hank," Jr. [D-GA-4] Henry Johnson D GA C. "Hank" 4 2007-09-04 False J000284 Rep. Jones, Stephanie Tubbs [D-OH-11] STEPHANIE JONES D OH TUBBS 11 2007-09-04 False K000365 Rep. Kagen, Steve [D-WI-8] Steve Kagen D WI 8 2007-09-04 False L000043 Rep. Lampson, Nick [D-TX-22] NICK LAMPSON D TX 22 2007-09-04 False L000557 Rep. Larson, John B. [D-CT-1] JOHN LARSON D CT B. 1 2007-09-04 False M000087 Rep. Maloney, Carolyn B. [D-NY-14] CAROLYN MALONEY D NY B. 14 2007-09-04 False M000309 Rep. McCarthy, Carolyn [D-NY-4] CAROLYN MCCARTHY D NY 4 2007-09-04 False M001166 Rep. McNerney, Jerry [D-CA-11] Jerry McNerney D CA 11 2007-09-04 False M001148 Rep. Meek, Kendrick B. [D-FL-17] Kendrick Meek D FL B. 17 2007-09-04 False M001161 Rep. Melancon, Charlie [D-LA-3] Charlie Melancon D LA 3 2007-09-04 False M000933 Rep. Moran, James P. [D-VA-8] JAMES MORAN D VA P. 8 2007-09-04 False R000577 Rep. Ryan, Tim [D-OH-17] TIM RYAN D OH 17 2007-09-04 False S001165 Rep. Sires, Albio [D-NJ-13] Albio Sires D NJ 13 2007-09-04 False T000057 Rep. Tauscher, Ellen O. [D-CA-10] ELLEN TAUSCHER D CA O. 10 2007-09-04 False W000799 Rep. Walz, Timothy J. [D-MN-1] Timothy Walz D MN J. 1 2007-09-04 False W000797 Rep. Wasserman Schultz, Debbie [D-FL-20] Debbie Wasserman Schultz D FL 20 2007-09-04 False W000792 Rep. Weiner, Anthony D. [D-NY-9] ANTHONY WEINER D NY D. 9 2007-09-04 False W000314 Rep. Wexler, Robert [D-FL-19] ROBERT WEXLER D FL 19 2007-09-04 False P000593 Rep. Perlmutter, Ed [D-CO-7] Ed Perlmutter D CO 7 2007-09-04 False D000210 Rep. Delahunt, William D. [D-MA-10] William Delahunt D MA D. 10 2007-09-06 False J000287 Rep. Jindal, Bobby [R-LA-1] Bobby Jindal R LA 1 2007-09-10 False L000562 Rep. Lynch, Stephen F. [D-MA-9] Stephen Lynch D MA F. 9 2007-09-19 False C000380 Del. Christensen, Donna M. [D-VI-At Large] DONNA CHRISTENSEN D VI M. 0 2007-09-24 False B001247 Rep. Brown-Waite, Ginny [R-FL-5] Ginny Brown-Waite R FL 5 2007-09-27 False K000113 Rep. Kennedy, Patrick J. [D-RI-1] PATRICK KENNEDY D RI J. 1 2007-10-31 False 2007-10-30T04:00:00Z H.R. 3355, Homeowners' Defense Act of 2007 http://www.cbo.gov/publication/19286 <p>Cost estimate for the bill as ordered reported by the House Committee on Financial Services on September 26, 2007</p> 2007-10-30T04:00:00Z H.R. 3355, Homeowners' Defense Act of 2007 https://www.cbo.gov/publication/19286 Cost estimate for the bill as ordered reported by the House Committee on Financial Services on September 26, 2007 Finance and Financial Sector Casualty insurance Commerce Disaster insurance Economics and Public Finance Emergency Management Government Operations and Politics Government lending Government liability Government securities Governmental investigations Home ownership Housing and Community Development Insurance companies Law Property insurance Reinsurance Risk Securities Finance and Financial Sector 00 2007-08-03 Introduced in House 2007-10-22T21:17:59Z Homeowners' Defense Act of 2007 - Declares that the purposes of this Act is to provide a federal backstop for state-sponsored insurance programs to help homeowners prepare for and recover from the damages caused by natural catastrophes.

Establishes a nonprofit National Catastrophe Risk Consortium, which shall not be an agency or instrumentality of the U.S. government, to: (1) gather an inventory of catastrophe risk obligations held by participating states' reinsurance funds, risk pools, or primary insurance corporations; (2) issue securities and other financial instruments linked to the catastrophe risk in the capital markets; (3) enter into reinsurance contracts with private parties, on a conduit basis; (4) act as a centralized repository of state risk information accessible by private-market participants interested in underwriting risk-linked securities or entering into reinsurance contracts; and (5) use an acquired catastrophe risk database to perform research and analysis that encourages standardization of the risk-linked securities market.

Makes the Consortium eligible for discretionary federal grants, contracts, gifts, contributions, or technical assistance.

Directs the Secretary of the Treasury to carry out a national homeowners' insurance stabilization program to make liquidity loans and catastrophic loans to state and regional reinsurance programs to: (1) ensure their solvency; (2) improve the availability and affordability of homeowners' insurance; and (3) spread the risk of catastrophic financial loss resulting from natural disasters and catastrophic events.

Authorizes the Secretary to establish and collect a reasonable fee from precertified qualified reinsurance programs to offset stabilization program expenses.

Prescribes requirements for qualified reinsurance programs.

]]> 17 2007-10-31 Reported to House with amendment(s) 2007-12-19T21:53:38Z Homeowners' Defense Act of 2007 - Declares the purpose of this Act is to provide a federal backstop for state-sponsored insurance programs to: (1) help homeowners prepare for and recover from damages caused by natural catastrophes; and (2) promote the use of private market capital as a means to insure against such catastrophes.

Title I: National Catastrophe Risk Consortium - (Sec. 101) Establishes the National Catastrophe Risk Consortium as a non-profit, non-federal entity to: (1) inventory catastrophe risk obligations held by state reinsurance funds, and state residual insurance market entities; (2) issue, on a conduit basis, securities and other financial instruments linked to catastrophe risks insured or reinsured through Consortium members; (3) act as a centralized repository of state risk information accessible by private-market participants seeking to participate in either such financial instruments or certain reinsurance contracts; and (4) perform research and analysis that encourages standardization of the risk-linked securities market.

Makes eligible to join the Consortium any state that has established a reinsurance fund or has authorized operation of a state residual insurance market entity.

(Sec. 107) Shields the federal government and the Consortium from liability arising from Consortium actions. Requires participating states to retain all catastrophe risk until completion of specified transactions.

(Sec. 108) Authorizes appropriations for FY2008-FY2013.

Title II: National Homeowners' Insurance Stabilization Program - (Sec. 201) Instructs the Secretary of the Treasury to implement a program to make liquidity loans and catastrophic loans to qualified reinsurance programs to: (1) ensure their solvency; (2) improve the availability and affordability of homeowners' insurance; (3) encourage risk transfer to the private capital and reinsurance markets; and (4) spread the risk of catastrophic financial loss resulting from natural disasters and catastrophic events.

(Sec. 202) Prescribes terms and conditions for liquidity loans and catastrophic loans for state and regional reinsurance programs. Authorizes the Secretary to enter into loan contracts.

Cites circumstances under which the Secretary is required to make loans upon request of a qualified reinsurance program.

Limits the use of such loans solely to providing reinsurance or retrocessional coverage to underlying primary insurers or reinsurers for losses arising from specified personal real property or homeowners' lines of insurance.

(Sec. 204) Authorizes the Secretary to establish a fee collection program to implement this Act.

Instructs the Secretary to require full repayment of all loans made under this Act.

Title III: General Provisions - (Sec. 301) Prescribes criteria for a qualified reinsurance program under this Act.

Directs the Secretary to establish procedures for state and regional reinsurance programs and certain state residual insurance market entities to apply for certification (and recertification) as qualified reinsurance programs.

]]> 36 2007-11-08 Passed House amended 2007-12-26T15:18:29Z Homeowners' Defense Act of 2007 - Declares that the purpose of this Act is to provide federal support for state-sponsored insurance programs to: (1) help homeowners prepare for and recover from damages caused by natural catastrophes; and (2) promote the use of private market capital as a means to insure against such catastrophes.

Title I: National Catastrophe Risk Consortium - (Sec. 101) Establishes the National Catastrophe Risk Consortium as a nonprofit, nonfederal entity to: (1) inventory catastrophe risk obligations held by state reinsurance funds, and state residual insurance market entities; (2) issue, on a conduit basis, securities and other financial instruments linked to catastrophe risks insured or reinsured through Consortium members; (3) act as a centralized repository of state risk information accessible by private-market participants seeking to participate in either such financial instruments or certain reinsurance contracts; and (4) perform research and analysis that encourages standardization of the risk-linked securities market.

Makes eligible to join the Consortium any: (1) state that has established a reinsurance fund or has authorized operation of a state residual insurance market entity; or (2) state-sponsored provider of natural catastrophe insurance.

(Sec. 107) Shields the federal government and the Consortium from liability arising from Consortium actions. Requires participating states to retain all catastrophe risk until completion of specified transactions.

(Sec. 108) Authorizes appropriations for FY2008-FY2013.

Title II: National Homeowners' Insurance Stabilization Program - (Sec. 201) Instructs the Secretary of the Treasury to implement a program to make liquidity loans and catastrophic loans to qualified reinsurance programs to: (1) ensure their solvency; (2) improve the availability and affordability of homeowners' insurance; (3) encourage risk transfer to the private capital and reinsurance markets; and (4) spread the risk of catastrophic financial loss resulting from natural disasters and catastrophic events.

(Sec. 202) Prescribes terms and conditions for liquidity loans and catastrophic loans for qualified reinsurance programs. Authorizes the Secretary to enter into loan contracts.

Requires as one prerequisite for such a loan to a qualified reinsurance program that before the loan is made the state or regional reinsurance program enter into an agreement with the Secretary that the state will not use federal funds of any kind or from any federal source (including any disaster or other financial assistance, loan proceeds, and any other assistance or subsidy) to repay the loan.

Cites circumstances under which the Secretary is required to make loans upon request of a qualified reinsurance program.

Limits the use of such loans solely to providing reinsurance or retrocessional coverage to underlying primary insurers or reinsurers for losses arising from specified personal residential lines of insurance.

(Sec. 204) Authorizes the Secretary to establish a fee collection program to implement this Act.

Instructs the Secretary to require full repayment of all loans made under this Act.

Title III: Reinsurance Coverage for Qualified Reinsurance Programs - (Sec. 301) Authorizes the Secretary to make contracts for reinsurance coverage under this title available for purchase only by qualified reinsurance programs.

(Sec. 302) Declares that contracts for reinsurance coverage made available under this title: (1) shall not displace or compete with the private insurance or reinsurance markets or the capital market; (2) shall minimize the administrative costs of the federal government; and (3) shall provide coverage based solely on insured losses covered by the qualified reinsurance program purchasing the contract.

(Sec. 303) Specifies terms and conditions of qualified reinsurance programs, including: (1) a minimum attachment point; and (2) 90% coverage of insured losses in excess of retained losses.

(Sec. 304) Sets the maximum aggregate potential federal liability for payment of claims under all reinsurance contracts sold in any single year at $200 billion, or such lesser amount as the Secretary determines based on review of the reinsurance market.

Limits the authority of the Secretary to enter into reinsurance contracts for any fiscal year to the extent or in such amounts as are or have been provided in appropriation Acts for that fiscal year.

(Sec. 305) Establishes in the Treasury the Federal Natural Catastrophe Reinsurance Fund, to be credited with amounts received annually from the sale of reinsurance contracts, appropriations, and any amounts earned on investments.

Authorizes the Secretary to invest in U.S. bonds any amounts in the Fund in excess of current needs.

Title IV: General Provisions - (Sec. 401) Prescribes criteria for a qualified reinsurance program under this Act.

Directs the Secretary to establish procedures for state and regional reinsurance programs and certain state residual insurance market entities to apply for certification (and recertification) as qualified reinsurance programs.

Requires each qualified reinsurance program (except any existing state residual insurance market entity, or state-sponsored provider of natural catastrophe insurance, deemed to be a qualified reinsurance program during an initial five-year transition period) to: (1) maintain risk-based capital in accordance with requirements established by the Secretary, in consultation with the National Association of Insurance Commissioners (NAIC) and consistent with the NAIC Risk-Based Capital Model Act; and (2) take into consideration asset risk, credit risk, underwriting risk, and other relevant risks.

Directs the Secretary to recognize and give credit for the ability of any qualified reinsurance program to access capital through the liquidity loan program (established under title II of this Act) to the extent that such program is deficient in complying with any aspect of risk-based capital requirements.

Requires the Secretary to increase the credit recognized and given for a qualified reinsurance program by an amount equal to the losses paid by the program as a result of a catastrophe.

(Sec. 402) Directs the Secretary to study, on an expedited basis, the need for and impact of expanding the programs established by this Act to apply to insured losses of qualified reinsurance programs for losses arising from all commercial insurance policies covering properties composed predominantly of residential rental units (commercial residential lines of insurance).

Requires the Secretary, to the extent a need to expand is determined, and that such expansion will be effective in increasing insurance capacity for the commercial residential insurance market, to: (1) apply the provisions of this Act, as appropriate, to any such insured losses of a qualified reinsurance program; and (2) provide restrictions, limitations, or conditions with respect to the programs under this Act that the Secretary deems appropriate, based on the study.

]]> Homeowners' Defense Act of 2007 Official Title as Introduced To ensure the availability and affordability of homeowners' insurance coverage for catastrophic events. Introduced in House IH Display Title Homeowners' Defense Act of 2007 Short Titles as Reported to House Homeowners' Defense Act of 2007 H House Short Titles as Passed House Homeowners' Defense Act of 2007 H House Short Titles as Introduced Homeowners' Defense Act of 2007 896 110 HAMDT An amendment numbered 3 printed in the Congressional Record to provide for inclusion of business owners under the provisions of the bill. 2022-02-03T05:22:42Z 2007-11-08 By unanimous consent, the Campbell (CA) amendment was withdrawn. 17:56:02 C001064 Rep. Campbell, John [R-CA-48] John Campbell R CA 48 2007-11-08T05:00:00Z House of Representatives 110 HR House H 3355 Homeowners' Defense Act of 2007 2023-01-11T20:37:42Z 5 2007-11-08 17:56:02 By unanimous consent, the Campbell (CA) amendment was withdrawn. Floor H32140 2 House floor actions 2007-11-08 17:50:59 Amendment (A012) offered by Mr. Campbell (CA). (consideration: CR H13363-13364; text: CR H13363) Floor H3A100 2 House floor actions 2007-11-08 17:50:59 House amendment offered/reported by : Amendment (A012) offered by Mr. Campbell (CA).(consideration: CR H13363-13364; text: CR H13363) NotUsed 71500 9 Library of Congress 2007-11-08 House amendment offered Floor 71000 9 Library of Congress 895 110 HAMDT Amendment in the nature of a substitute sought to insert a complete new text. An amendment in the nature of a substitute numbered 5 printed in the Congressional Record to insert a complete new text. 2022-02-03T05:22:42Z 2007-11-08 On agreeing to the Shays amendment (A011) Failed by recorded vote: 166 - 246 (Roll no. 1072). 19:06:06 S001144 Rep. Shays, Christopher [R-CT-4] CHRISTOPHER SHAYS R CT 4 2007-11-08T05:00:00Z House of Representatives 110 HR House H 3355 Homeowners' Defense Act of 2007 2023-01-11T20:37:42Z 8 2007-11-08 19:06:06 On agreeing to the Shays amendment (A011) Failed by recorded vote: 166 - 246 (Roll no. 1072). Floor H32111 2 House floor actions 1072 House 110 2007-11-09T00:06:06Z 1 https://clerk.house.gov/evs/2007/roll1072.xml 2007-11-08 17:33:51 Amendment (A011) in the nature of a substitute offered by Mr. Shays. (consideration: CR H13359-13363, H13366-13367; text: CR H13359-13361) Floor H3A100 2 House floor actions 2007-11-08 17:33:51 House amendment offered/reported by : Amendment (A011) in the nature of a substitute offered by Mr. Shays.(consideration: CR H13359-13363, H13366-13367; text: CR H13359-13361) NotUsed 71500 9 Library of Congress 2007-11-08 19:06:06 House amendment not agreed to: On agreeing to the Shays amendment (A011) Failed by recorded vote: 166 - 246 (Roll no. 1072). Floor 73000 9 Library of Congress 1072 House 110 2007-11-09T00:06:06Z 1 https://clerk.house.gov/evs/2007/roll1072.xml 2007-11-08 19:06:06 Amendment failed in Committee of the Whole NotUsed 77000 9 Library of Congress 1072 House 110 2007-11-09T00:06:06Z 1 https://clerk.house.gov/evs/2007/roll1072.xml 2007-11-08 19:06:06 Roll call votes on amendments in House Floor 75000 9 Library of Congress 1072 House 110 2007-11-09T00:06:06Z 1 https://clerk.house.gov/evs/2007/roll1072.xml 2007-11-08 House amendment offered Floor 71000 9 Library of Congress 894 110 HAMDT Amendment Record inserts language prohibiting use of Federal funds of any kind or from any Federal source (including any disaster or other financial assistance, loan proceeds, and any other assistance or subsidy) to repay a loan. An amendment numbered 15 printed in the Congressional Record to insert language prohibiting use of Federal funds of any kind or from any Federal source (including any disaster or other financial assistance, loan proceeds, and any other assistance or subsidy) to repay a loan. 2022-02-03T05:22:42Z 2007-11-08 On agreeing to the Putnam amendment Agreed to by voice vote. 17:50:47 P000586 Rep. Putnam, Adam H. [R-FL-12] ADAM PUTNAM R FL H. 12 2007-11-08T05:00:00Z House of Representatives 110 HR House H 3355 Homeowners' Defense Act of 2007 2023-01-11T20:37:42Z 7 2007-11-08 17:50:47 On agreeing to the Putnam amendment Agreed to by voice vote. Floor H32111 2 House floor actions 2007-11-08 17:27:13 Amendment (A010) offered by Mr. Putnam. (consideration: CR H13359; text: CR H13359) Floor H3A100 2 House floor actions 2007-11-08 17:27:13 House amendment offered/reported by : Amendment (A010) offered by Mr. Putnam.(consideration: CR H13359; text: CR H13359) NotUsed 71500 9 Library of Congress 2007-11-08 17:50:47 House amendment agreed to: On agreeing to the Putnam amendment Agreed to by voice vote. Floor 72000 9 Library of Congress 2007-11-08 17:50:47 Amendment agreed to Committee of the Whole NotUsed 76000 9 Library of Congress 2007-11-08 House amendment offered Floor 71000 9 Library of Congress 893 110 HAMDT Amendment modifies the instruction prohibiting price gouging by replacing it with language discouraging price gouging. An amendment to modify the instruction prohibiting price gouging by replacing it with language discouraging price gouging. 2022-02-03T05:22:42Z 2007-11-08 On agreeing to the Klein (FL) amendment (A009) Agreed to by voice vote. 17:26:32 K000366 Rep. Klein, Ron [D-FL-22] Ron Klein D FL 22 2007-11-08T05:00:00Z House of Representatives 110 HR House H 3355 Homeowners' Defense Act of 2007 2023-01-11T20:37:42Z 892 110 HAMDT Page 22, line 11, strike "and". Page 22, after line 17 insert the following new subparagraph:. An amendment numbered 12 printed in the Congressional Record to insert clarifying language relating to price gouging. 2022-02-03T05:22:42Z 7 2007-11-08 17:26:32 On agreeing to the Klein (FL) amendment (A009) Agreed to by voice vote. Floor H32111 2 House floor actions 2007-11-08 17:22:13 Amendment (A009) offered by Mr. Klein (FL) to the Brown-Waite, Ginny amendment (A008). (consideration: CR H13358-13359; text: CR H13358) Floor H3A100 2 House floor actions 2007-11-08 17:22:13 House amendment offered/reported by : Amendment (A009) offered by Mr. Klein (FL) to the Brown-Waite, Ginny amendment (A008).(consideration: CR H13358-13359; text: CR H13358) NotUsed 71500 9 Library of Congress 2007-11-08 17:26:32 Amendment agreed to Committee of the Whole NotUsed 76000 9 Library of Congress 2007-11-08 17:26:32 House amendment agreed to: On agreeing to the Klein (FL) amendment (A009) Agreed to by voice vote. Floor 72000 9 Library of Congress 2007-11-08 House amendment offered Floor 71000 9 Library of Congress 892 110 HAMDT Page 22, line 11, strike "and". Page 22, after line 17 insert the following new subparagraph:. An amendment numbered 12 printed in the Congressional Record to insert clarifying language relating to price gouging. 2022-02-03T05:22:42Z 2007-11-08 On agreeing to the Brown-Waite, Ginny amendment (A008) as amended Agreed to by voice vote. 17:26:55 B001247 Rep. Brown-Waite, Ginny [R-FL-5] Ginny Brown-Waite R FL 5 2007-11-08T05:00:00Z House of Representatives 110 HR House H 3355 Homeowners' Defense Act of 2007 2023-01-11T20:37:42Z 1 7 2007-11-08 17:26:55 On agreeing to the Brown-Waite, Ginny amendment (A008) as amended Agreed to by voice vote. Floor H32111 2 House floor actions 2007-11-08 17:18:10 Amendment (A008) offered by Ms. Brown-Waite, Ginny. (consideration: CR H13358; text: CR H13358) Floor H3A100 2 House floor actions 2007-11-08 17:18:10 House amendment offered/reported by : Amendment (A008) offered by Ms. Brown-Waite, Ginny.(consideration: CR H13358; text: CR H13358) NotUsed 71500 9 Library of Congress 2007-11-08 17:26:55 Amendment agreed to Committee of the Whole NotUsed 76000 9 Library of Congress 2007-11-08 17:26:55 House amendment agreed to: On agreeing to the Brown-Waite, Ginny amendment (A008) as amended Agreed to by voice vote. Floor 72000 9 Library of Congress 2007-11-08 House amendment offered Floor 71000 9 Library of Congress 891 110 HAMDT Amendment requires annual reports to include an assessment of the costs to states and regions associated with catastrophe risk and an analysis of the costs and benefits, for states not participating in the consortium. An amendment numbered 4 printed in the Congressional Record to require that annual reports shall include an assessment of the costs to states and regions associated with catastrophe risk and an analysis of the costs and benefits, for states not participating in the consortium. 2022-02-03T05:22:42Z 2007-11-08 On agreeing to the Matheson amendment Agreed to by voice vote. 17:16:34 M001142 Rep. Matheson, Jim [D-UT-2] JIM MATHESON D UT 2 2007-11-08T05:00:00Z House of Representatives 110 HR House H 3355 Homeowners' Defense Act of 2007 2023-01-11T20:37:42Z 7 2007-11-08 17:16:34 On agreeing to the Matheson amendment Agreed to by voice vote. Floor H32111 2 House floor actions 2007-11-08 17:11:33 Amendment (A007) offered by Mr. Matheson. (consideration: CR H13357-13358; text: CR H13357) Floor H3A100 2 House floor actions 2007-11-08 17:11:33 House amendment offered/reported by : Amendment (A007) offered by Mr. Matheson.(consideration: CR H13357-13358; text: CR H13357) NotUsed 71500 9 Library of Congress 2007-11-08 17:16:34 House amendment agreed to: On agreeing to the Matheson amendment Agreed to by voice vote. Floor 72000 9 Library of Congress 2007-11-08 17:16:34 Amendment agreed to Committee of the Whole NotUsed 76000 9 Library of Congress 2007-11-08 House amendment offered Floor 71000 9 Library of Congress 890 110 HAMDT Amendment sought to insert clarifying language relating to delinquency of loans made for assistance in connection with a natural or other major disaster. An amendment numbered 1 printed in the Congressional Record to insert clarifying language relating to delinquency of loans made for assistance in connection with a natural or other major disaster. 2022-02-03T05:22:42Z 2007-11-08 On agreeing to the Manzullo amendment (A006) Failed by recorded vote: 176 - 242 (Roll no. 1071). 18:59:36 M001138 Rep. Manzullo, Donald A. [R-IL-16] DONALD MANZULLO R IL 16 2007-11-08T05:00:00Z House of Representatives 110 HR House H 3355 Homeowners' Defense Act of 2007 2023-01-11T20:37:42Z 8 2007-11-08 18:59:36 On agreeing to the Manzullo amendment (A006) Failed by recorded vote: 176 - 242 (Roll no. 1071). Floor H32111 2 House floor actions 1071 House 110 2007-11-08T23:59:36Z 1 https://clerk.house.gov/evs/2007/roll1071.xml 2007-11-08 16:57:31 Amendment (A006) offered by Mr. Manzullo. (consideration: CR H13355-13357, H13366; text: CR H13355) Floor H3A100 2 House floor actions 2007-11-08 16:57:31 House amendment offered/reported by : Amendment (A006) offered by Mr. Manzullo.(consideration: CR H13355-13357, H13366; text: CR H13355) NotUsed 71500 9 Library of Congress 2007-11-08 18:59:36 House amendment not agreed to: On agreeing to the Manzullo amendment (A006) Failed by recorded vote: 176 - 242 (Roll no. 1071). Floor 73000 9 Library of Congress 1071 House 110 2007-11-08T23:59:36Z 1 https://clerk.house.gov/evs/2007/roll1071.xml 2007-11-08 18:59:36 Amendment failed in Committee of the Whole NotUsed 77000 9 Library of Congress 1071 House 110 2007-11-08T23:59:36Z 1 https://clerk.house.gov/evs/2007/roll1071.xml 2007-11-08 18:59:36 Roll call votes on amendments in House Floor 75000 9 Library of Congress 1071 House 110 2007-11-08T23:59:36Z 1 https://clerk.house.gov/evs/2007/roll1071.xml 2007-11-08 House amendment offered Floor 71000 9 Library of Congress 889 110 HAMDT An amendment numbered 2 printed in the Congressional Record to insert provisions which help to limit developer overbuilding in areas subject to risk of catastrophic financial loss. 2022-02-03T05:22:42Z 2007-11-08 By unanimous consent, the Castor amendment was withdrawn. 16:56:56 C001066 Rep. Castor, Kathy [D-FL-11] Kathy Castor D FL 11 2007-11-08T05:00:00Z House of Representatives 110 HR House H 3355 Homeowners' Defense Act of 2007 2023-01-11T20:37:42Z 5 2007-11-08 16:56:56 By unanimous consent, the Castor amendment was withdrawn. Floor H32140 2 House floor actions 2007-11-08 16:52:33 Amendment (A005) offered by Ms. Castor. (consideration: CR H13354-13355; text: CR H13354-13355) Floor H3A100 2 House floor actions 2007-11-08 16:52:33 House amendment offered/reported by : Amendment (A005) offered by Ms. Castor.(consideration: CR H13354-13355; text: CR H13354-13355) NotUsed 71500 9 Library of Congress 2007-11-08 House amendment offered Floor 71000 9 Library of Congress 888 110 HAMDT Amendment sought to insert clarifying language with respect to catastrophic loans and losses covered by such loans. An amendment numbered 13 printed in the Congressional Record to insert clarifying language with respect to catastrophic loans and losses covered by such loans. 2022-02-03T05:22:42Z 2007-11-08 On agreeing to the Roskam amendment (A004) Failed by recorded vote: 172 - 245 (Roll no. 1070). 18:49:55 R000580 Rep. Roskam, Peter J. [R-IL-6] Peter Roskam R IL J. 6 2007-11-08T05:00:00Z House of Representatives 110 HR House H 3355 Homeowners' Defense Act of 2007 2023-01-11T20:37:42Z 8 2007-11-08 18:49:55 On agreeing to the Roskam amendment (A004) Failed by recorded vote: 172 - 245 (Roll no. 1070). Floor H32111 2 House floor actions 1070 House 110 2007-11-08T23:49:55Z 1 https://clerk.house.gov/evs/2007/roll1070.xml 2007-11-08 16:36:52 Amendment (A004) offered by Mr. Roskam. (consideration: CR H13353-13354, H13365-13366; text: CR H13353) Floor H3A100 2 House floor actions 2007-11-08 16:36:52 House amendment offered/reported by : Amendment (A004) offered by Mr. Roskam.(consideration: CR H13353-13354, H13365-13366; text: CR H13353) NotUsed 71500 9 Library of Congress 2007-11-08 18:49:55 House amendment not agreed to: On agreeing to the Roskam amendment (A004) Failed by recorded vote: 172 - 245 (Roll no. 1070). Floor 73000 9 Library of Congress 1070 House 110 2007-11-08T23:49:55Z 1 https://clerk.house.gov/evs/2007/roll1070.xml 2007-11-08 18:49:55 Amendment failed in Committee of the Whole NotUsed 77000 9 Library of Congress 1070 House 110 2007-11-08T23:49:55Z 1 https://clerk.house.gov/evs/2007/roll1070.xml 2007-11-08 18:49:55 Roll call votes on amendments in House Floor 75000 9 Library of Congress 1070 House 110 2007-11-08T23:49:55Z 1 https://clerk.house.gov/evs/2007/roll1070.xml 2007-11-08 House amendment offered Floor 71000 9 Library of Congress 887 110 HAMDT Amendment includes language which clarifies mitigation measures and encourages state and local governments to develop comprehensive land use and zoning plans that include natural hazard mitigation. An amendment numbered 14 printed in the Congressional Record to include language which clarifies mitigation measures and encourages state and local governments to develop comprehensive land use and zoning plans that include natural hazard mitigation. 2022-02-03T05:22:42Z 2007-11-08 On agreeing to the Murphy (CT) amendment (A003) Agreed to by voice vote. 16:36:30 M001169 Rep. Murphy, Christopher [D-CT-5] Christopher Murphy D CT S. 5 2007-11-08T05:00:00Z House of Representatives 110 HR House H 3355 Homeowners' Defense Act of 2007 2023-01-11T20:37:42Z 7 2007-11-08 16:36:30 On agreeing to the Murphy (CT) amendment (A003) Agreed to by voice vote. Floor H32111 2 House floor actions 2007-11-08 16:27:06 Amendment (A003) offered by Mr. Murphy (CT). (consideration: CR H13351-13353; text: CR H13351) Floor H3A100 2 House floor actions 2007-11-08 16:27:06 House amendment offered/reported by : Amendment (A003) offered by Mr. Murphy (CT).(consideration: CR H13351-13353; text: CR H13351) NotUsed 71500 9 Library of Congress 2007-11-08 16:36:30 Amendment agreed to Committee of the Whole NotUsed 76000 9 Library of Congress 2007-11-08 16:36:30 House amendment agreed to: On agreeing to the Murphy (CT) amendment (A003) Agreed to by voice vote. Floor 72000 9 Library of Congress 2007-11-08 House amendment offered Floor 71000 9 Library of Congress 886 110 HAMDT Amendment sought to insert clarifying language to the bill relating to best practices in building codes. An amendment numbered 6 printed in the Congressional Record to insert clarifying language to the bill relating to best practices in building codes. 2022-02-03T05:22:42Z 2007-11-08 On agreeing to the Roskam amendment (A002) Failed by recorded vote: 168 - 249 (Roll no. 1069). 18:41:45 R000580 Rep. Roskam, Peter J. [R-IL-6] Peter Roskam R IL J. 6 2007-11-08T05:00:00Z House of Representatives 110 HR House H 3355 Homeowners' Defense Act of 2007 2023-01-11T20:37:42Z 8 2007-11-08 18:41:45 On agreeing to the Roskam amendment (A002) Failed by recorded vote: 168 - 249 (Roll no. 1069). Floor H32111 2 House floor actions 1069 House 110 2007-11-08T23:41:45Z 1 https://clerk.house.gov/evs/2007/roll1069.xml 2007-11-08 16:15:24 Amendment (A002) offered by Mr. Roskam. (consideration: CR H13350-13351, H13364-13365; text: CR H13350) Floor H3A100 2 House floor actions 2007-11-08 16:15:24 House amendment offered/reported by : Amendment (A002) offered by Mr. Roskam.(consideration: CR H13350-13351, H13364-13365; text: CR H13350) NotUsed 71500 9 Library of Congress 2007-11-08 18:41:45 Roll call votes on amendments in House Floor 75000 9 Library of Congress 1069 House 110 2007-11-08T23:41:45Z 1 https://clerk.house.gov/evs/2007/roll1069.xml 2007-11-08 18:41:45 House amendment not agreed to: On agreeing to the Roskam amendment (A002) Failed by recorded vote: 168 - 249 (Roll no. 1069). Floor 73000 9 Library of Congress 1069 House 110 2007-11-08T23:41:45Z 1 https://clerk.house.gov/evs/2007/roll1069.xml 2007-11-08 18:41:45 Amendment failed in Committee of the Whole NotUsed 77000 9 Library of Congress 1069 House 110 2007-11-08T23:41:45Z 1 https://clerk.house.gov/evs/2007/roll1069.xml 2007-11-08 House amendment offered Floor 71000 9 Library of Congress 885 110 HAMDT Page 2, after line 7, in the item in the table of contents relating to section 202, strike "STATE AND REGIONAL" and insert "QUALIFIED".***. An amendment numbered 17 printed in the Congressional Record to make technical and conforming changes; add a new title which inserts new provisions on reinsurance coverage for qualified reinsurance programs; and to insert provisions requiring a study on the need for conditional coverage of commercial residential lines of insurance. 2022-02-03T05:22:42Z 2007-11-08 On agreeing to the Klein (FL) amendment (A001) Agreed to by recorded vote: 253 - 159 (Roll no. 1068). 18:22:15 K000366 Rep. Klein, Ron [D-FL-22] Ron Klein D FL 22 2007-11-08T05:00:00Z House of Representatives 110 HR House H 3355 Homeowners' Defense Act of 2007 2023-01-11T20:37:42Z 8 2007-11-08 18:22:15 On agreeing to the Klein (FL) amendment (A001) Agreed to by recorded vote: 253 - 159 (Roll no. 1068). Floor H32111 2 House floor actions 1068 House 110 2007-11-08T23:22:15Z 1 https://clerk.house.gov/evs/2007/roll1068.xml 2007-11-08 16:01:53 Amendment (A001) offered by Mr. Klein (FL). (consideration: CR H13364) Floor H3A100 2 House floor actions 2007-11-08 16:01:53 House amendment offered/reported by : Amendment (A001) offered by Mr. Klein (FL).(consideration: CR H13364) NotUsed 71500 9 Library of Congress 2007-11-08 18:22:15 Roll call votes on amendments in House Floor 75000 9 Library of Congress 1068 House 110 2007-11-08T23:22:15Z 1 https://clerk.house.gov/evs/2007/roll1068.xml 2007-11-08 18:22:15 Amendment agreed to Committee of the Whole NotUsed 76000 9 Library of Congress 1068 House 110 2007-11-08T23:22:15Z 1 https://clerk.house.gov/evs/2007/roll1068.xml 2007-11-08 18:22:15 House amendment agreed to: On agreeing to the Klein (FL) amendment (A001) Agreed to by recorded vote: 253 - 159 (Roll no. 1068). Floor 72000 9 Library of Congress 1068 House 110 2007-11-08T23:22:15Z 1 https://clerk.house.gov/evs/2007/roll1068.xml 2007-11-08 House amendment offered Floor 71000 9 Library of Congress Referred in Senate 2007-11-13T05:00:00Z Engrossed in House 2007-11-08T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-110hr3355eh/xml/BILLS-110hr3355eh.xml Reported in House 2007-10-31T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-110hr3355rh/xml/BILLS-110hr3355rh.xml Introduced in House 2007-08-03T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-110hr3355ih/xml/BILLS-110hr3355ih.xml 2007-11-13 Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. 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.