A bill to provide a temporary exemption from certain provisions of the Employee Retirement Income Security Act of 1974 and the Internal Revenue Code of 1954 relating to prohibited transactions for the purchase of certain bonds sold to fund residential mortgages and domestic motor vehicle loans and to provide for interest reduction payments by the Secretary of Housing and Urban Development to assist with the financing of the purchase of certain residential dwellings and domestic motor vehicles.
Housing and Automobile Industries Recovery Act of 1982 - Title I: Exemption for the Purchase of Certain Bonds by Employee Pension Benefit Plans - Provides a temporary exemption from certain provisions of the Employee Retirement Income Security Act of 1974 and the Internal Revenue Code relating to prohibited transactions for the purchase of certain bonds sold to fund residential mortgages and domestic motor vehicle loans.
Title II: Interest Reduction Payments - Provides for interest reduction payments by the Secretary of Housing and Urban Development to assist with the financing of the purchase of certain residences and domestic motor vehicles. Sets forth: (1) requirements and restrictions for eligible loans and mortgages; and (2) guidelines for the allocation of such payments.
Authorizes appropriations for FY 1983 through 1988 to carry out this title.
Prohibits the Secretary from making any commitments to make interest reduction payments under this title after August 31, 1983.
Introduced in House
Introduced in House
Referred to House Committee on Banking, Finance and Urban Affairs.
Referred to House Committee on Education and Labor.
Referred to House Committee on Ways and Means.
Referred to Subcommittee on Housing and Community Development.
Referred to Subcommittee on Financial Institutions Supervision, Regulation and Insurance.
Referred to Subcommittee on Labor-Management Relations.
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