S.Amdt. 4330

SA 4330. Mr. MERKLEY submitted an amendment intended to be proposed
by him to the bill H.R. 6644, a bill to increase the supply of housing
in America, and for other purposes; which was ordered to lie on the
table; as follows:

At the appropriate place, insert the following:

SEC. __. HOME EQUITY CONTRACTS.

Section 137 of the Truth in Lending Act (15 U.S.C. 1647) is
amended by adding at the end the following:
``(f) Application to Home Equity Contracts.--The
requirements under this section shall apply with respect to
home equity contracts, which are contracts that--
``(1) require an upfront payment to the homeowner; and
``(2) include a requirement to pay back the payment in the
future (either after a certain number of years or when the
home is sold) that is based, in part on the value of the
home.''.
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