H.R. 1171 (102nd): State Thrift Deposit Insurance Premium Act of 1991

Introduced:
Feb 27, 1991 (102nd Congress, 1991–1992)
Sponsor:
Rep. Howard Wolpe III [D-MI3]
Status:
Died (Referred to Committee)
See Instead:

S. 955 (same title)
Referred to Committee — Apr 25, 1991

The bill’s title was written by the bill’s sponsor. H.R. stands for House of Representatives bill.

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Status

This bill was introduced on February 27, 1991, in a previous session of Congress, but was not enacted.

Progress
Introduced Feb 27, 1991
Cosponsors
67 cosponsors (42D, 24R, 1I) (show)
Committees

House Financial Services

The committee chair determines whether a bill will move past the committee stage.

Full Title

To amend the Federal Deposit Insurance Act to require States in which the failure of State savings associations has involved a disproportionately large share of the thrift resolution costs, including costs incurred by the Resolution Trust Corporation, to pay a State thrift deposit insurance premium as a condition of future federal deposit insurance.

Summary

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Text

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Primary Source

View on THOMAS (The Library of Congress)

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GovTrack’s Bill Summary

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Library of Congress Summary

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.

2/27/1991--Introduced.
State Thrift Deposit Insurance Premium Act of 1991 - Amends the Federal Deposit Insurance Act to direct the Federal Deposit Insurance Corporation to determine and apportion among the States the cumulative cost of Federal assistance provided to State-chartered savings associations for case resolutions. Declares as "high risk" any State whose share of State resolution costs exceeds twice its share of 1980 State deposits. Mandates that each high risk State pay to the Savings Association Insurance Fund (SAIF) prescribed premiums reflecting such risk. Sets forth insurance termination procedures if a State fails to pay the required premium. Requires depositor notification of such insurance termination. Mandates that the premium paid by high-risk States into the SAIF shall be available to pay the thrift resolution costs incurred by the FSLIC Resolution Fund or the Resolution Trust Corporation, as appropriate.

House Republican Conference Summary

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No summary available.

House Democratic Caucus Summary

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