H.R. 2511 (105th): To prohibit the Student Loan Marketing Association from conditioning the waiver of redemption premiums, otherwise chargeable in connection with the refinancing of securities acquired by the Association while it was a government-sponsored enterprise, on the use of its own investment banking subsidiary.

Introduced:
Sep 18, 1997 (105th Congress, 1997–1998)
Sponsor:
Rep. David Skaggs [D-CO2]
Status:
Died (Referred to Committee)

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 September 18, 1997, in a previous session of Congress, but was not enacted.

Progress
Introduced Sep 18, 1997
Cosponsors
none
Committees

House Education and the Workforce

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

Summary

No summaries available.

Text

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Last updated Sep 18, 1997.
3 pages

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.

9/18/1997--Introduced.
Prohibits a current practice of the Student Loan Marketing Association (Sallie Mae) with respect to tax-exempt municipal bonds issued by various educational institutions and acquired by Sallie Mae, before January 1, 1997, as a Government-sponsored enterprise. Prohibits Sallie Mae, or any other entity obtaining securities from Sallie Mae pursuant to a restructuring of the common stock ownership of Sallie Mae under the Higher Education Act of 1965 (HEA), from conditioning its waiver of redemption premiums (otherwise chargeable in connection with refunding such bonds) on the use by such educational institutions of its own investment banking subsidiary (Educational Securities, Inc.). (Such practice is currently allowed under HEA.)

House Republican Conference Summary

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No summary available.

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