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.

Summary

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.)

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 23 September 1997

   Introduced

   Referred to the House Committee on Education and the Workforce.

   Source: IntroReferral

2. 23 September 1997

   Introduced

   Introduced in House

   Source: IntroReferral

3. 23 September 1997

   Introduced

   Introduced in House

   Source: IntroReferral

4. 7 November 1997

   Referred

   Referred to the Subcommittee on Postsecondary Education, Training and Life-Long Learning.

   Source: Committee

Votes

No vote records are attached yet.

Versions

• Introduced in House · 23 September 1997 · Official file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 23 September 1997

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 23 September 1997

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 23 September 1997

  Open at official source

Sponsors

• Rep. Skaggs, David E. [D-CO-2] · D · Sponsor
• · hsed00 · Standing

Related records

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