CREDIT

Agenda

E-commerce taxation and Federal regulation issues: Senate Republican High Tech Task Force, S171 [28JA]

Amendments

Agriculture: continue certain programs (S. 1731), S408, S419, S430, S431 [6FE], S442, S467, S469, S476, S498, S501, S504, S505, S506, S510 [7FE], S515, S516, S519, S522, S533, S557, S558, S564, S567 [8FE], S578, S590, S591 [11FE], S608, S610, S612, S613, S616, S617, S618, S619, S620, S621, S628, S629, S636, S645, S666, S667, S669, S670, S671, S672 [12FE], S675, S748 [13FE]

Consumers: require disclosure of terms of rental-purchase agreements (H.R. 1701), H6332, H6335 [18SE]

Crime: prevent identity theft and mitigate the harm to victimized individuals (S. 1742), S11052, S11120 [14NO]

Housing: simplify the downpayment requirements for FHA mortgage insurance for single family homebuyers (S. 2239), S10739, S10743, S10745 [17OC]

Native Americans: improve effectiveness of the Indian Loan Guarantee and Insurance Program (S. 2017), S8694 [17SE], S11773 [20NO], H8913 [14NO]

SBA: authorize loans to small businesses and certain other businesses that suffered substantial economic injury as a result of terrorist attacks on the World Trade Center, Pentagon, and Somerset County, PA (S. 1499), S2331 [22MR]

Bills and resolutions

Bankruptcy: extend reenactment period for chapter 12 of the bankruptcy code relative to family farmers (see H.R. 4167), H1281 [11AP] (see H.R. 5472), H6775 [26SE]

———limit the value of real and personal property that debtors may exempt under State and local law (see S. 2996), S9116 [24SE]

———permanently reenact chapter 12 of the bankruptcy code relative to family farmers (see S. 3174), S11574 [19NO]

———protect family farmers and family fishermen (see H.R. 5348), H6129 [9SE]

Business and industry: allow a grace period for payment of bills by consumers whose mail service has been disrupted due to a national emergency (see H.R. 3891), H779 [7MR]

Colleges and universities: eliminate termination date on authority for schools with low default rates to make single disbursements of student loans (see H.R. 4639), H2018 [1MY]

Consumers: allow a grace period for payment of bills by consumers whose mail service has been disrupted due to a national emergency (see H.R. 3891), H779 [7MR]

———protect from predatory mortgage lending practices (see S. 2438), S3625 [1MY] (see H.R. 3807), H633 [27FE]

———require disclosure of terms of rental-purchase agreements (see S. 2947), S8673 [17SE]

———require disclosure of terms of rental-purchase agreements (H.R. 1701), consideration (see H. Res. 528), H6302 [17SE]

Crime: establish penalties for aggravated identity theft (see H.R. 5588), H7737 [9OC]

———establish penalties for aggravated identity theft and enhance existing identity theft penalties (see S. 2541), S4702 [22MY]

———prevent identity theft and mitigate the harm to victimized individuals (see H.R. 5424), H6418 [19SE]

Dept. of Veterans Affairs: prohibit additional daily interest charges following prepayment in full of guaranteed housing loans (see H.R. 4042), H1088 [20MR]

Disasters: modify terms of the community disaster loan program (see H.R. 5523), H6982 [2OC]

Economic Growth and Tax Relief Reconciliation Act: repeal sunset relative to qualified tuition programs (see H.R. 5054), H4325 [27JN]

———repeal sunset relative to treatment of interest on student loans (see S. 2905), S8300 [5SE]

FHA: adjust the indexing of multifamily mortgage limits (see S. 2841), S7899 [1AU]

Higher Education Act: establish fixed interest rates for student and parent borrowers and extend current law relative to special allowances for lenders (S. 1762), consideration (see H. Res. 334), H35 [23JA]

———incorporate results from the Fed Up Initiative which identifies outdated or burdensome regulations (see H.R. 4866), H3229 [5JN] (see H.R. 5072), H4424 [9JY]

Housing: amend and extend certain laws relating to housing and community opportunity (see H.R. 3995), H1002 [19MR]

———prohibit Federal funding for housing-related Government-sponsored enterprises and remove certain advantages granted to such enterprises (see H.R. 5126), H4605 [15JY]

———simplify the downpayment requirements for FHA mortgage insurance for single family homebuyers (see S. 2239), S3303 [24AP] (see H.R. 3661), H104 [29JA]

Native Americans: improve effectiveness of the Indian Loan Guarantee and Insurance Program (see S. 2017), S1935 [14MR]

Public welfare programs: promote financial education under the Temporary Assistance for Needy Families Program and allow such education to count as a work activity under that program (see S. 2628), S5632 [17JN]

Social Security: limit the misuse of Social Security numbers and establish criminal penalties for such misuse (see S. 3100), S10359 [10OC]

Taxation: allow a deduction for credit card interest (see H.R. 3704), H227 [7FE]

———exclude from gross income loan payments received under the National Health Service Corps Loan Repayment Program (see S. 2654), S5851 [20JN]

———repeal provisions that limit the interest deduction on refinanced home mortgage indebtedness to the amount of the indebtedness being refinanced (see H.R. 5339), H6084 [5SE]

———treatment of bonds guaranteed by Federal home loan banks (see H.R. 5670), H8022 [16OC]

———treatment of higher education expenses (see S. 2851), S7899 [1AU] (see H.R. 5661), H8021 [16OC]

Truth in Lending Act: adjust the exempt transactions amount for inflation (see H.R. 5507), H6925 [1OC]

Cost Estimates

FHA Downpayment Simplification Act (S. 2239): CBO, S10744 [17OC]

Letters

Permanently extend the research tax credit and adjust the alternative incremental credit: R&D Credit Coalition, S169 [28JA]

———Rhett Dawson, Information Technology Industry Council, S169 [28JA]

———William T. Archey, American Electronics Association, S169 [28JA]

———several Senators, S172 [28JA]

Lists

Amendments to S. 1731, Agriculture, Conservation, and Rural Enhancement Act, S473 [7FE]

R&D Credit Coalition, S169 [28JA]

Supporters of S. 1499, American Small Business Emergency Relief and Recovery Act, S2337 [22MR]

Supporters of S. 2654, National Health Service Corps Loan Repayment Act, S5855 [20JN]

Motions

Agriculture: continue certain programs (S. 1731), S609 [12FE]

Bankruptcy: protect family farmers and family fishermen (H.R. 5348), consideration, H6959 [2OC]

Consumers: require disclosure of terms of rental-purchase agreements (H.R. 1701), H6339 [18SE]

Press releases

High Tech Task Force Members Urge Finance Committee To Make R&D Tax Credit Permanent: Senate Republican High Tech Task Force, S172 [28JA]

High Tech Task Force Supports Smith-Hatch-Allen Amendment to Patients Bill To Make R&D Tax Credit Permanent: Senate Republican High Tech Task Force, S172 [28JA]

Republicans Will Keep Fighting To Make R&D Credit Permanent—High Tech Task Force Chairman Allen Praises Senator Gordon Smith's Leadership: Senate Republican High Tech Task Force, S173 [28JA]

Proposals

Consideration of H.R. 5348, Family Farmers and Family Fisherman Protection Act, H6850 [1OC], H6958 [2OC]

Remarks in House

Bankruptcy: extend reenactment period for chapter 12 of the bankruptcy code relative to family farmers, H6699, H6700, H6701, H6702 [26SE]

———extend reenactment period for chapter 12 of the bankruptcy code relative to family farmers (H.R. 4167), H1302-H1305 [16AP]

———extend reenactment period for chapter 12 of the bankruptcy code relative to family farmers (H.R. 5472), H6848-H6850 [1OC]

———permanently reenact chapter 12 of the bankruptcy code relative to family farmers, H1183-H1188 [10AP]

———protect family farmers and family fishermen (H.R. 5348), consideration, H6958 [2OC]

Colleges and universities: eliminate termination date on authority for schools with low default rates to make single disbursements of student loans (H.R. 4639), E683 [2MY]

Consumers: make ownership cost limitations in New York, Ohio, and Nebraska law the minimum standard of protection for rental-purchase agreements, and establish a national standard on cash prices, H6322, H6327, H6333-H6336 [18SE]

———prohibit preemption of State laws that regulate rental-purchase agreements as a form of consumer credit, H6319, H6321-H6329, H6339, H6340 [18SE]

———prohibit shifting of liability for rental-purchase agreements for loss, damage, or destruction of property from the merchant to the consumer, H6322, H6335-H6337 [18SE]

———protect from predatory mortgage lending practices, E1133 [21JN]

———require disclosure of terms of rental-purchase agreements (H.R. 1701), H6216 [11SE], H6320-H6342 [18SE], E1625 [19SE], E1697 [30SE]

———require disclosure of terms of rental-purchase agreements (H.R. 1701), consideration (H. Res. 528), H6318-H6320 [18SE]

———require disclosure of terms of rental-purchase agreements (H.R. 1701), motion to recommit, H6339, H6340 [18SE]

Dept. of Defense: Title XI Vessel Loan Guarantee Program funding, H2278 [9MY]

Dept. of Veterans Affairs: prohibit additional daily interest charges following prepayment in full of guaranteed housing loans (H.R. 4042), E491 [10AP]

Education: require use of variable interest rates to consolidate student loans to fund shortfall in Pell Grant Program, E725 [7MY]

Fair Debt Collection Practices Act: exempt mortgage servicers from certain requirements relative to Federal mortgage loans secured by a first lien (H.R. 163), H7024-H7027 [7OC]

Financial institutions: First Accounts grants program funding, H4915 [18JY]

Gambling: expand and modernize the prohibition against interstate gambling (H.R. 3215), permission to file report, H8014 [16OC]

Higher Education Act: establish fixed interest rates for student and parent borrowers and extend current law relative to special allowances for lenders (S. 1762), H43-H48 [24JA], E30 [25JA], E71 [5FE], E101 [6FE]

———establish fixed interest rates for student and parent borrowers and extend current law relative to special allowances for lenders (S. 1762), consideration (H. Res. 334), H41-H43 [24JA]

———incorporate results from the Fed Up Initiative which identifies outdated or burdensome regulations (H.R. 4866), H4698-H4707 [16JY], E972 [6JN]

Housing: amend and extend certain laws relating to housing and community opportunity (H.R. 3995), E389 [19MR], E1133 [21JN]

———prohibit Federal funding for housing-related Government-sponsored enterprises and remove certain advantages granted to such enterprises (H.R. 5126), E1258 [15JY]

———simplify the downpayment requirements for FHA mortgage insurance for single family homebuyers (S. 2239), H8927 [14NO]

Native Americans: improve effectiveness of the Indian Loan Guarantee and Insurance Program (S. 2017), H8912, H8923 [14NO]

SBA: revise calculation of certain loan subsidy rates, E1609 [19SE], E1961 [28OC]

Taxation: treatment of interest on student loans, H3207 [5JN], E725 [7MY]

Truth in Lending Act: adjust the exempt transactions amount for inflation (H.R. 5507), H7027 [7OC], E1793 [8OC]

Remarks in Senate

Agriculture: continue certain programs (S. 1731), S52 [24JA], S115 [25JA], S173 [28JA], S402-S423 [6FE], S441-S479 [7FE], S513-S525, S528-S537, S540 [8FE], S577-S582 [11FE], S597-S653 [12FE], S675-S699, S709 [13FE], S835 [14FE], S7860 [1AU]

———continue certain programs (S. 1731), unanimous-consent agreement, S473 [7FE], S592 [11FE]

———modify authority of farm credit system institutions to participate with non-system lenders in certain multi-lender risk management transactions, S582 [11FE]

———recalculated loan rates for commodities, S3980, S3983 [8MY]

Bankruptcy: extend reenactment period for chapter 12 of the bankruptcy code relative to family farmers (H.R. 4167), S3225 [23AP]

———extend reenactment period for chapter 12 of the bankruptcy code relative to family farmers (H.R. 5472), S10219 [9OC], S11792 [20NO]

———extend reenactment period for chapter 12 of the bankruptcy code relative to family farmers (S. 1630), unanimous-consent request, S204 [29JA]

———limit homestead property exemption, S2938 [18AP]

———limit the value of real and personal property that debtors may exempt under State and local law (S. 2996), S9122 [24SE]

———permanently reenact chapter 12 of the bankruptcy code relative to family farmers, S467-S469 [7FE]

———permanently reenact chapter 12 of the bankruptcy code relative to family farmers (S. 3174), S11792 [20NO]

———prevent creditors from employing involuntary bankruptcy actions relative to certain liability claims, S7735 [31JY], S11728 [20NO]

Consumers: protect from predatory mortgage lending practices (S. 2438), S3629 [1MY]

Crime: establish penalties for aggravated identity theft and enhance existing identity theft penalties (S. 2541), S4707 [22MY]

———prevent identity theft and mitigate the harm to victimized individuals (S. 1742), S11052-S11056 [14NO], S11207 [15NO]

Dept. of Agriculture: repeal peanut quotas, S650, S651 [12FE], S3933 [7MY]

Dept. of Defense: investigation of credit card abuse, S1988-S1991 [18MR]

———limit number of credit card accounts, evaluate creditworthiness of cardholders, and establish disciplinary actions for improper use, S7719-S7721 [31JY]

Dept. of Labor: provide temporary mortgage assistance to workers displaced due to international competition, S4523-S4525 [17MY]

———provide temporary mortgage assistance to workers displaced due to international competition (S. 1848), S3553 [30AP]

Economic Growth and Tax Relief Reconciliation Act: repeal sunset relative to treatment of interest on student loans (S. 2905), S8302 [5SE]

Education: require use of variable interest rates to consolidate student loans to fund shortfall in Pell Grant Program, S3484, S3496-S3498 [29AP], S3515, S3539, S3555 [30AP], S3582, S3587 [1MY], S3792, S3793 [2MY], S4104-S4106 [9MY], S4341, S4342 [15MY]

FHA: adjust the indexing of multifamily mortgage limits (S. 2841), S7907, S7908 [1AU]

Housing: simplify the downpayment requirements for FHA mortgage insurance for single family homebuyers (S. 2239), S3308, S3309 [24AP], S10743 [17OC], S10787 [21OC]

Native Americans: improve effectiveness of the Indian Loan Guarantee and Insurance Program (S. 2017), S1938 [14MR], S8694 [17SE]

———improve effectiveness of the Indian Loan Guarantee and Insurance Program (S. 2017), House amendment, S11773-S11783 [20NO]

Small business: forgive interest payments on certain disaster loans and provide tax relief for concerns in the aftermath of terrorist attacks (S. 1493), S4189 [10MY]

Social Security: limit the misuse of Social Security numbers and establish criminal penalties for such misuse (S. 3100), S10379, S10396 [10OC]

———limit the misuse of Social Security numbers and establish criminal penalties for such misuse (S. 848), S4509 [16MY]

Taxation: exclude from gross income loan payments received under the National Health Service Corps Loan Repayment Program (S. 2654), S5854-S5856 [20JN]

———permanently extend the research credit and adjust the alternative incremental credit, S168-S173 [28JA], S384 [6FE]

———treatment of interest on student loans, S3515 [30AP], S3582, S3587 [1MY], S3792, S3793 [2MY], S4341, S4342 [15MY]

Violence Policy Center: release of report entitled Credit Card Armies—Firearms and Training for Terror in the U.S., S11561 [19NO]

Reports filed

Combatting Illegal Gambling Reform and Modernization Act: Committee on the Judiciary (House) (H.R. 3215) (H. Rept. 107-591), H4930 [18JY], H8021 [16OC]

Consideration of H.R. 1701, Consumer Rental Purchase Agreement Act: Committee on Rules (House) (H. Res. 528) (H. Rept. 107-661), H6302 [17SE]

Consideration of S. 1762, Establish Fixed Interest Rates for Student and Parent Borrowers and Extend Current Law Relative to Special Allowances for Lenders: Committee on Rules (House) (H. Res. 334) (H. Rept. 107-354), H35 [23JA]

Consumer Rental Purchase Agreement Act: Committee on Financial Services (House) (H.R. 1701) (H. Rept. 107-590), H4930 [18JY]

———Committee on the Judiciary (House) (H.R. 1701) (H. Rept. 107-590), H6128 [9SE]

FHA Downpayment Simplification Act: Committee on Governmental Affairs (Senate) (S. 2239), S10442 [15OC]

Housing Affordability for America Act: Committee on Financial Services (House) (H.R. 3995) (H. Rept. 107-640), H6302 [17SE]

———Committee on the Judiciary (House) (H.R. 3995) (H. Rept. 107-640), H6058 [4SE]

Identity Theft Penalty Enhancement Act: Committee on the Judiciary (Senate) (S. 2541), S11079 [14NO]

Indian Loan Guarantee and Insurance Program Effectiveness Improvement: Committee on Indian Affairs (Senate) (S. 2017) (S. Rept. 107-249), S8091 [3SE]

———Committee on Resources (House) (H.R. 3407) (H. Rept. 107-630), H6058 [4SE]

Restore Your Identity Act: Committee on the Judiciary (Senate) (S. 1742), S4623 [21MY]

Social Security Number Misuse Prevention Act: Committee on the Judiciary (Senate) (S. 848), S4491 [16MY]

Rulings of the Chair

Bankruptcy: protect family farmers and family fishermen (H.R. 5348), consideration, H6958 [2OC]

Statements

Credit Cards: Kelly Green, E794 [14MY]

Summaries

Risk or Race? Racial Disparities and the Subprime Refinance Market—A Report of the Center for Community Change: Calvin Bradford, Calvin Bradford & Associates, Ltd., S3630 [1MY]

Texts of

H. Res. 334, consideration of S. 1762, establish fixed interest rates for student and parent borrowers and extend current law relative to special allowances for lenders, H41 [24JA]

H. Res. 528, consideration of H.R. 1701, Consumer Rental Purchase Agreement Act, H6318 [18SE]

H.R. 163, Mortgage Servicing Clarification Act, H7024 [7OC]

H.R. 1701, Consumer Rental Purchase Agreement Act, H6329-H6332 [18SE]

H.R. 4167, Family Farmer Bankruptcy Extension Act, H1302 [16AP]

H.R. 4866, incorporate results from the Fed Up Initiative, which identifies outdated or burdensome regulations, into the Higher Education Act, H4698-H4701 [16JY]

H.R. 5472, Protection of Family Farmers Act, H6848 [1OC]

H.R. 5507, Truth in Lending Inflation Adjustment Act, H7027 [7OC]

S. 1742, Identity Theft Victims Assistance Act, S11052-S11055 [14NO]

S. 1762, establish fixed interest rates for student and parent borrowers and extend current law relative to special allowances for lenders, H43 [24JA]

S. 2017, improve effectiveness of the Indian Loan Guarantee and Insurance Program, S8694-S8696 [17SE]

S. 2017, Indian Loan Guarantee and Insurance Program effectiveness improvement, S1939 [14MR], S11773-S11783 [20NO], H8912-H8923 [14NO]

S. 2239, FHA Downpayment Simplification Act, S3309 [24AP], S10743 [17OC], S10787 [21OC], H8927 [14NO]

S. 2541, Identity Theft Penalty Enhancement Act, S4708 [22MY]

S. 2628, TANF Financial Education Promotion Act, S5634 [17JN]

S. 2841, FHA Multifamily Housing Loan Limit Improvement Act, S7907 [1AU]

S. 2905, repeal sunset of Economic Growth and Tax Relief Reconciliation Act relative to treatment of interest on student loans, S8303 [5SE]

S. 2996, Bankruptcy Abuse Reform Act, S9123 [24SE]