To require the Resolution Trust Corporation to establish a strategy for disposing of assets in economically distressed areas, to amend the Internal Revenue Code of 1986 to exempt from taxation the dividends received from real estate investment trusts established exclusively to purchase and hold assets from the Resolution Trust Corporation or the FSLIC Resolution Fund, and for other purposes.
Resolution Trust Corporation Assets Disposal Act of 1989 - Amends the Federal Home Loan Bank Act to outline the strategies the Resolution Trust Corporation must use in disposing of assets located in economically distressed areas.
Amends the Internal Revenue Code to exclude from the gross income of individuals dividends received from qualified savings and loan real estate investment trusts whose sole purpose is the acquisition of multifamily housing projects from the Resolution Trust Corporation or the FSLIC Resolution Fund.
Modifies the restrictions placed upon corporate deductions for dividends received from a qualified savings and loan real estate investment trust.
Introduced in House
Introduced in House
Referred to the House Committee on Ways and Means.
Referred to the House Committee on Banking, Finance + Urban Affrs.
Referred to the Subcommittee on Financial Institutions Supervision, Regulation and Insurance.
checking server…
Ask anything about this bill. The AI reads the full text to answer.
Enter to send · Shift+Enter for new line