3.0.0 1669 2022-02-03T06:09:03Z 2022-02-03T06:09:03Z House H HR 2009-03-23 111 hsba00 Financial Services Committee House Standing Referred to 2009-03-23T16:32:40Z 2009-03-23 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2009-03-23 Sponsor introductory remarks on measure. (CR E738-739) IntroReferral B00100 9 Library of Congress 2009-03-23 Introduced in House IntroReferral Intro-H 9 Library of Congress 2009-03-23 Introduced in House IntroReferral 1000 9 Library of Congress C001078 Rep. Connolly, Gerald E. [D-VA-11] Gerald Connolly D VA E. 11 N E000063 Rep. Edwards, Chet [D-TX-17] CHET EDWARDS D TX 17 2009-04-21 False J000288 Rep. Johnson, Henry C. "Hank," Jr. [D-GA-4] Henry Johnson D GA C. "Hank" 4 2009-04-21 False C001049 Rep. Clay, Wm. Lacy [D-MO-1] WM. CLAY D MO LACY 1 2009-04-21 False Finance and Financial Sector Credit and credit markets Financial crises and stabilization Government lending and loan guarantees Intergovernmental relations Securities State and local finance Finance and Financial Sector 00 2009-03-23 Introduced in House 2009-04-27T19:40:24Z Federal Municipal Bond Marketing Support and Securitization Act of 2009 - Requires the Secretary of the Treasury and the Board of Governors of the Federal Reserve System to consult with each other for the purpose of: (1) finding solutions for the grave effects of the current financial crisis on the markets for municipal securities; and (2) cooperating in authorized activities to alleviate such effects on those markets.

Directs the Secretary to establish a program to: (1) purchase municipal securities; (2) issue securities backed by pools of municipal securities; and (3) provide credit enhancement or guarantees for municipal securities.

Authorizes the Federal Financing Bank to: (1) make commitments to purchase and sell any municipal security issued under a specified plan approved by the Secretary; (2) guarantee repayment of principal and interest on any municipal security issued under a plan approved by the Secretary; and (3) issue and sell instruments representing interests in a pool of municipal securities purchased by the Bank.

Prohibits the purchase or guarantee of a municipal security under this Act unless the Secretary has approved, prior to its issuance, the method, source, and timing of financing, as well as all terms and conditions.

States that municipal securities sold by the Secretary or the Bank under this Act, and instruments issued by the Secretary or the Bank that represent pools of municipal securities, may be insured as to the payment of principal or interest by the Secretary or the Bank, respectively.

Authorizes the Board to establish a credit facility to provide financial resources for the purchase of municipal securities by federal reserve banks or member banks or other persons.

]]> Federal Municipal Bond Marketing Support and Securitization Act of 2009 Short Titles as Introduced Federal Municipal Bond Marketing Support and Securitization Act of 2009 Display Title Federal Municipal Bond Marketing Support and Securitization Act of 2009 Official Title as Introduced To require the Secretary of the Treasury to establish a market for municipal securities, to require cooperation between the Secretary and the Chairman of the Board of Governors of the Federal Reserve System in addressing the municipal securities market situation including through the establishment of municipal securities funding facilities, and for other purposes. Introduced in House 2009-03-23T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-111hr1669ih/xml/BILLS-111hr1669ih.xml 2009-03-23 Referred to the House Committee on Financial Services. 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.