[Congressional Record Volume 142, Number 120 (Thursday, September 5, 1996)]
[Senate]
[Page S9957]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




[[Page S9957]]



 DEPARTMENT OF VETERANS AFFAIRS AND HOUSING AND URBAN DEVELOPMENT, AND 
             INDEPENDENT AGENCIES APPROPRIATIONS ACT, 1997

  The Senate continued with the consideration of the bill.


                    Amendment No. 5159, As Modified

  Mr. BOND. Mr. President, before moving to third reading, I ask 
unanimous consent to modify amendment number 5159, adopted previously, 
to correct an inadvertent deletion, typographical error in one of the 
sections.
   Mr. President, this was the Stevens amendment. Inadvertently one 
paragraph was dropped. This corrects the typographical error.
  Ms. MIKULSKI. We have no objection.
  The PRESIDING OFFICER. Without objection, it is so ordered.
  The amendment (No. 5159), as modified, is as follows:

       Strike section 432 and used in lieu thereof the following:

     SEC. 432. CALCULATION OF DOWNPAYMENT.

       Section 203(b) of the National Housing Act (12 U.S.C. 
     1709(b)) is amended by adding at the end the following new 
     paragraph:
       ``(10) Alaska and Hawaii.--
       ``(A) In general.--Notwithstanding any other provision of 
     this subsection, with respect to a mortgage originated in the 
     State of Alaska or the State of Hawaii, involve a principal 
     obligation not in excess of the sum of--
       ``(i) the amount of the mortgage insurance premium paid at 
     the time the mortgage is insured; and
       ``(ii)(I) in the case of a mortgage for a property with an 
     appraised value equal to or less than $50,000, 98.75 percent 
     of the appraised value of the property;
       ``(II) in the case of a mortgage for a property with an 
     appraised value in excess of $50,000 but not in excess of 
     $125,000, 97.65 percent of the appraised value of the 
     property;
       ``(III) in the case of a mortgage for a property with an 
     appraised value in excess of $125,000, 97.15 percent of the 
     appraised value of the property; or
       ``(IV) notwithstanding subclauses (II) and (III), in the 
     case of a mortgage for a property with an appraised value in 
     excess of $50,000 that is located in an area of the State for 
     which the average closing cost exceeds 2.10 percent of the 
     average, for the State, of the sale price of properties 
     located in the State for which mortgages have been executed, 
     97.75 percent of the appraised value of the property.
       ``(B) Average closing cost.--For purposes of this 
     paragraph, the term `average closing cost' means, with 
     respect to a State, the average, for mortgages executed for 
     properties that are located within the State, of the total 
     amounts (as determined by the Secretary) of initial service 
     charges, appraisal, inspection, and other fees (as the 
     Secretary shall approve) that are paid in connection with 
     such mortgages.''

  Mr. BOND. Mr. President, I think we are ready for third reading.
  The PRESIDING OFFICER. The question is on the engrossment of the 
amendments and third reading of the bill.
  The amendments were ordered to be engrossed, and the bill to be read 
a third time.
  The bill was read a third time.
  Mr. BOND. Mr. President, I ask for the yeas and nays.
  The PRESIDING OFFICER. Is there a sufficient second? There appears to 
be a sufficient second.
  The yeas and nays were ordered.
  The PRESIDING OFFICER. The bill having been read the third time, the 
question is, Shall the bill pass? The yeas and nays have been ordered. 
The clerk will call the roll.
  The legislative clerk called the roll.
  Mr. NICKLES. I announce that the Senator from Oregon [Mr. Hatfield] 
and the Senator from Alaska [Mr. Murkowski] are necessarily absent.
  I further announce that, if present and voting, the Senator from 
Oregon [Mr. Hatfield] would vote ``yea.''
  Mr. FORD. I announce that the Senator from Hawaii [Mr. Inouye] is 
necessarily absent.
  The PRESIDING OFFICER. Are there any other Senators in the Chamber 
desiring to vote?
  The result was announced--yeas 95, nays 2, as follows:

                      [Rollcall Vote No. 278 Leg.]

                                YEAS--95

     Abraham
     Akaka
     Ashcroft
     Baucus
     Bennett
     Biden
     Bingaman
     Bond
     Boxer
     Bradley
     Breaux
     Bryan
     Bumpers
     Burns
     Byrd
     Campbell
     Chafee
     Coats
     Cochran
     Cohen
     Conrad
     Coverdell
     Craig
     D'Amato
     Daschle
     DeWine
     Dodd
     Domenici
     Dorgan
     Exon
     Faircloth
     Feinstein
     Ford
     Frahm
     Frist
     Glenn
     Gorton
     Graham
     Gramm
     Grams
     Grassley
     Gregg
     Harkin
     Hatch
     Heflin
     Helms
     Hollings
     Hutchison
     Inhofe
     Jeffords
     Johnston
     Kassebaum
     Kempthorne
     Kennedy
     Kerrey
     Kerry
     Kohl
     Kyl
     Lautenberg
     Leahy
     Levin
     Lieberman
     Lott
     Lugar
     Mack
     McCain
     McConnell
     Mikulski
     Moseley-Braun
     Moynihan
     Murray
     Nickles
     Nunn
     Pell
     Pressler
     Pryor
     Reid
     Robb
     Rockefeller
     Roth
     Santorum
     Sarbanes
     Shelby
     Simon
     Simpson
     Smith
     Snowe
     Specter
     Stevens
     Thomas
     Thompson
     Thurmond
     Warner
     Wellstone
     Wyden

                                NAYS--2

     Brown
     Feingold
       

                             NOT VOTING--3

     Hatfield
     Inouye
     Murkowski
  The bill (H.R. 3666), as amended, was passed.
  Mr. BOND. Mr. President, I move to reconsider the vote.
  Mr. FRIST. I move to lay that motion on the table.
  The motion to lay on the table was agreed to.
  Mr. BOND. Mr. President, I move that the Senate insist on its 
amendments and that it request a conference with the House on the 
disagreeing votes thereon, and that the Chair be authorized to appoint 
conferees on the part of the Senate.
  The motion was agreed to, and the Presiding Officer appointed Mr. 
Bond, Mr. Burns, Mr. Stevens, Mr. Shelby, Mr. Bennett, Mr. Campbell, 
Mr. Hatfield, Ms. Mikulski, Mr. Leahy, Mr. Johnston, Mr. Lautenberg, 
Mr. Kerrey of Nebraska, and Mr. Byrd conferees on the part of the 
Senate.
  Mr. BOND. Mr. President, I want to express my appreciation to all 
those who helped us through this rather long ordeal. I express a 
special thanks to the majority and minority leaders for enabling us to 
finish work on this bill tonight. There was some question whether we 
were going to be able to get it done tonight. I am very grateful that 
the arrangements were made so that we could pass it. We have a 
difficult conference ahead.
  I can't let this time pass without saying that my ranking member, the 
distinguished Senator from Maryland, Senator Mikulski, has been an 
invaluable ally. In addition to representing the interests of the 
minority side, she has been extremely helpful in expediting and 
completing action on many of the matters that faced us.
  We could not have done this without the work of our trusted and 
valuable staff. On our side, the chief clerk, Stephen Kohashi, ably 
assisted by Carrie Apostolou, and Julie Dammann on my staff was 
essential on our side. Sally Chadbourne has been terrific to work with. 
I am grateful for her assistance on this. Also, David Bowers and 
Catherine Corson helped on the minority side.
  We are most grateful that this measure had such spirited involvement 
on so many interesting and challenging issues. It is truly remarkable.
  I thank the Chair and yield the floor.

                          ____________________