A bill to extend and modify the "Net Worth Certificate Act" and for other purposes.

Amends the Garn-St Germain Depository Institutions Act of 1982 to extend by three years the expiration date of the Net Worth Certificate Act.

Amends the National Housing Act and the Federal Deposit Insurance Act to define "operating losses," for purposes of determining the value of net worth certificates that the Federal Savings and Loan Insurance Corporation or the Federal Deposit Insurance Corporation may purchase from a qualified financial institution, to include losses from the sale of financial assets. Authorizes the Corporations to permit a qualified institution, in conjunction with a submitted business plan, to have a net worth of less than one-half of one percent of assets after the purchase of its certificates. Authorizes the Corporations to purchase certificates equal to 100 percent (currently 70 percent) of the operating losses of a qualified institution having a net worth of less than one percent of assets.