[Congressional Record Volume 152, Number 40 (Monday, April 3, 2006)]
[Senate]
[Page S2732]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

      By Mr. COLEMAN:
  S. 2490. A bill to amend title 5, United States Code, to provide for 
a real estate stock index investment option under the Thrift Savings 
Plan; to the Committee on Homeland Security and Governmental Affairs.
  Mr. COLEMAN. Mr. President, I ask unanimous consent that the text of 
the bill be printed in the Record.
  There being no objection, the text of the bill was ordered to be 
printed in the Record, as follows:

                                S. 2490

       Be it enacted by the Senate and House of Representatives of 
     the United States of America in Congress assembled,

     SECTION 1. SHORT TITLE.

       (a) Short Title.--This Act may be cited as the ``Real 
     Estate Investment Thrift Savings Act of 2006''.

     SEC. 2. REAL ESTATE STOCK INDEX INVESTMENT FUND.

       (a) Definition.--Section 8438(a) of title 5, United States 
     Code, is amended--
       (1) in paragraph (9), by striking ``and'' at the end;
       (2) in paragraph (10), by striking the period at the end 
     and inserting ``; and''; and
       (3) by adding at the end the following:
       ``(11) the term `Real Estate Stock Index Investment Fund' 
     means the Real Estate Stock Index Investment Fund established 
     under subsection (b)(1)(F).''.
       (b) Establishment.--
       (1) In general.--Section 8438(b)(1) of title 5, United 
     States Code, is amended--
       (A) in subparagraph (D), by striking ``and'' at the end;
       (B) in subparagraph (E), by striking the period at the end 
     and inserting ``; and''; and
       (C) by adding at the end the following:
       ``(F) a Real Estate Stock Index Investment Fund as provided 
     in paragraph (5).''.
       (2) Fund requirements.--Section 8438(b) of title 5, United 
     States Code, is amended by adding at the end the following:
       ``(5)(A) The Board shall select an index which is a 
     commonly recognized index comprised of common stock the 
     aggregate market value of which is a reasonably complete 
     representation of the United States real estate equity 
     markets.
       ``(B) The Real Estate Stock Index Investment Fund shall be 
     invested in a portfolio designed to replicate the performance 
     of the index selected under subparagraph (A). The portfolio 
     shall be designed such that, to the extent practicable, the 
     percentage of the Real Estate Stock Index Investment Fund 
     that is invested in each stock is the same as the percentage 
     determined by dividing the aggregate market value of all 
     shares of that stock by the aggregate market value of all 
     shares of all stocks included in such index.''.
       (c) Acknowledgment of Risk.--Section 8439(d) of title 5, 
     United States Code, is amended--
       (1) by striking ``or the Small Capitalization Stock Index 
     Investment Fund,'' and inserting ``the Small Capitalization 
     Stock Index Investment Fund, or the Real Estate Stock Index 
     Investment Fund,''; and
       (2) by striking ``and (10),'' and inserting ``(10), and 
     (11),''.

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