The text of the bailout bill

CNN Money ^ | Sept 28, 2008 | Congress

[TLI]

http://money.cnn.com/2008/09/28/news/pdf/index.htm

[TLI]

65% to the Housing Trust Fund
35% to the Federal Magnet Fund

Both of these are low-income housing grant entities.

“La Raza supporting politicians have slipped the exact text of H.R. 1999, which would give La Raza $5 million of taxpayer funds this year and $10 million each year thereafter, into Senate bill S.1923, which is charmingly named the Housing Assistance Authorization Act of 2007”

http://www.diggersrealm.com/mt/archives/002471.html

of course the money goes into a general pool first and then various “Low-Income Housing” government projects get money dolled out so no it is not going from TARP to La Raza, but the La Raza funding will get TARP dollars. Count on it.

Also look here...

“The housing package signed into law by President Bush extends an unlimited line of credit to troubled mortgage giants Freddie Mac and Fannie Mae and rescues homeowners near or in foreclosure. The measure also increases the federal debt limit by another $800 billion — and sends millions of dollars in aid to [the National Council of La Raza] and the Association of Community Organizations for Reform Now, or ACORN.”

http://countusout.wordpress.com/2008/09/15/housing-bailout-bill-includes-millions-for-acorn-national-council-of-la-raza/

more

http://online.wsj.com/article/SB121745181676698197.html

more

http://www.govtrack.us/congress/billtext.xpd?bill=s110-1923

[Ilya Mourometz]

This is out of the bill (I’m starting to sound like a broken record). The deposit of 20% of the proceeds/profits to Affordable Housing Trust Fund and Federal Magnet Fund is DELETED.

[Plutarch]

Is this bill, which has no bill number, available on the Libary of Congress' THOMAS system?

Rush Limbaugh noted on Friday, that a bill needs to be on the THOMAS system for 24 hours before it can be voted on. I've been unable to find a citation for that claim.

[unspun]

Thank you. Perhaps you can check again, to see if the actual, newly drafted bill contains this. Boehner says ACORN is not in it.

[Ilya Mourometz]

Sigh....All language within brackets is deleted, as a rule. Occasionally drafters use brackets to signify points still under consideration, so that might apply to some other sections in brackets, though I think the House does not do that. At any rate, the ACORN part is clearly out of the bill.

[Ilya Mourometz]

That’s not required by any law I am aware of. Boehner said that he wanted it posted for 24 hours, but that ain’t likely to happen.

[Spunky]

Newt Gingrich was on one of the morning shows and the way I understood him to say the Thomas Act was put in under Clinton and is a law. If it is not on there yet maybe it is because it is still in its draft form.

[Ilya Mourometz]

It has to be posted via Thomas, but I don’t think there’s any 24 requirement, that’s all. I’ll check and report back.

[Snerdley]

Bump for later reference