State and Local Government Financing Reform Act of 1981

Summary

State and Local Government Financing Reform Act of 1981 - Excludes from the Federal law limiting and restricting the corporate powers of national banking associations to deal in and underwrite investment securities, specified dealings in and underwriting of all other nongeneral obligations issued or guaranteed by or on behalf of a State or any political subdivision thereof (except special assessment obligations and industrial revenue bonds) which are at the time eligible for purchase by a national bank for its own account, subject to specified limitations. Requires the Secretary of the Treasury to submit an annual report to the Congress showing the extent to which the business of underwriting and dealing in State and local obligations is being carried on by commercial banks as compared with other banking institutions with a view to determining the effect of the provisions of this Act on the institutional distribution of such business.

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

Timeline

1. 31 July 1981

   Introduced

   Referred to House Committee on Banking, Finance and Urban Affairs.

   Source: IntroReferral

2. 31 July 1981

   Introduced

   Introduced in House

   Source: IntroReferral

3. 31 July 1981

   Introduced

   Introduced in House

   Source: IntroReferral

4. 11 August 1981

   Referred

   Referred to Subcommittee on Financial Institutions Supervision, Regulation and Insurance.

   Source: Committee

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

1 official file

• Introduced in House

  summary · EN · 31 July 1981

  Open at official source

Sponsors

• Rep. Roybal, Edward R. [D-CA-25] · D · Sponsor
• Rep. Lundine, Stanley N. [D-NY-34] · D · Sponsor
• · hsba00 · Standing

Related records

• related to → State and Local Government Financing Reform Act of 1981