An amendment numbered 2 printed in House Report 110-590 to require the Secretary of Education to review and revise as necessary the regulations concerning prohibited guaranty agency inducements to eligible lenders.
What it does: Inserts new text at the end of section 5
Rep. Thomas E. Petri (R-WI)Description
At the end of section 5 of the bill, add the following new subsection: (c) REVIEW OF INDUCEMENTS LIMITATIONS- Within 90 days after the date of enactment of this Act, the Secretary of Education shall review, and as necessary revise, the Department of Education's regulations concerning prohibited guaranty agency inducements to eligible lenders (34 CFR 682.401(a)) to ensure that such agency's do not engage in improper inducements in the expansion of operations of the lender-of-last-resort program as authorized by the amendments made by this section. The Secretary shall submit a report on the review and revision required by this subsection to the Committee on Education and Labor of the House of Representatives and the Committee on Health, Education, Labor, and Pensions of the Senate within 180 days after such date of enactment.
We couldn't match these changes to the text of H.R. 5715, so they're shown as written.
Inserts new text at the end of section 5
InsertsInserted: (c) Review of Inducements Limitations.--Within 90 days after the date of enactment of this Act, the Secretary of Education shall review, and as necessary revise, the Department of Education's regulations concerning prohibited guaranty agency inducements to eligible lenders (34 CFR 682.401(a)) to ensure that such agency's do not engage in improper inducements in the expansion of operations of the lender-of-last-resort program as authorized by the amendments made by this section. The Secretary shall submit a report on the review and revision required by this subsection to the Committee on Education and Labor of the House of Representatives and the Committee on Health, Education, Labor, and Pensions of the Senate within 180 days after such date of enactment.
Original wording
At the end of section 5 of the bill, add the following new subsection:
Read automatically from the Congressional Record. Check the original before relying on it.
As printed
At the end of section 5 of the bill, add the following new subsection:
(c) Review of Inducements Limitations.--Within 90 days after the date of enactment of this Act, the Secretary of Education shall review, and as necessary revise, the Department of Education's regulations concerning prohibited guaranty agency inducements to eligible lenders (34 CFR 682.401(a)) to ensure that such agency's do not engage in improper inducements in the expansion of operations of the lender-of-last-resort program as authorized by the amendments made by this section. The Secretary shall submit a report on the review and revision required by this subsection to the Committee on Education and Labor of the House of Representatives and the Committee on Health, Education, Labor, and Pensions of the Senate within 180 days after such date of enactment.
Legislative Activity
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House amendment offered
April 17, 2008
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House amendment offered
April 17, 2008
Amendment agreed to Committee of the Whole
April 17, 2008 • 11:29 AM
House amendment agreed to: On agreeing to the Petri amendment (A002) as modified Agreed to by voice vote.(text as modified: CR H2463)
April 17, 2008 • 11:29 AM
House amendment offered/reported by : Amendment (A002) offered by Mr. Petri.(consideration: CR H2463-2464)
April 17, 2008 • 11:23 AM
Amendment (A002) offered by Mr. Petri. (consideration: CR H2463-2464)
April 17, 2008 • 11:23 AM
Petri amendment (A002) modified by unanimous consent. Modification made clarifying changes to the amendment as offered. (text as modified: CR H2463)
April 17, 2008 • 11:23 AM
On agreeing to the Petri amendment (A002) as modified Agreed to by voice vote. (text as modified: CR H2463)
April 17, 2008 • 11:29 AM