H.R. 5816 (111th): Commercial Real Estate Stabilization Act of 2010

Introduced:
Jul 22, 2010 (111th Congress, 2009–2010)
Sponsor:
Rep. Walter Minnick [D-ID1]
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 July 22, 2010, in a previous session of Congress, but was not enacted.

Progress
Introduced Jul 22, 2010
Cosponsors
6 cosponsors (4D, 2R) (show)
Committees

House Financial Services

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

Full Title

To establish a commercial real estate credit guarantee program to empower community banks and other lenders to make loans while stabilizing the value of small denomination commercial real estate assets, and for other purposes.

Summary

No summaries available.

Text

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Last updated Jul 22, 2010.
23 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.

7/22/2010--Introduced.
Commercial Real Estate Stabilization Act of 2010 - Establishes an Oversight Board to: (1) advise the Secretary of the Treasury on the Commercial Real Estate Credit Guarantee Program (established by this Act); and (2) report quarterly to Congress on the Program and on the current state of the credit system in the United States with respect to commercial lending, small business, and commercial real estate lending. Directs the Secretary to establish the Commercial Real Estate Credit Guarantee Program, under which the Secretary shall guarantee payments of interest and principal on an approved credit instrument. Requires 50% of the Program to be used for small- and mid-sized institutions. Permits loans for either owner-occupied or nonowner-occupied commercial real estate. States that guarantees issued under this Act constitute general obligations of the United States, for which the full faith and credit of the United States is pledged. Expresses the intent of Congress that the Program be utilized when such utilization proves beneficial, and not be unduly inhibited by concerns related to potential unfavorable regulatory accounting treatment.

House Republican Conference Summary

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House Democratic Caucus Summary

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The bill contains the following citations to other parts of U.S. law:

United States Code

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