The Federal Home Loan Bank Board formulates policies for and supervises the operation of the 12 Federal home loan banks, the system of Federal savings and loan associations and federally chartered savings banks, the Federal Savings and Loan Insurance Corporation, and the Federal Home Loan Mortgage Corporation. It is also responsible for the examination of Federal savings and loan associations, federally chartered savings banks and State-chartered institutions insured by the Federal Savings and Loan Insurance Corporation. The necessary expenses of the Federal Home Loan Bank Board are paid from assessments against the 12 Federal Home Loan Banks and the Federal Savings and Loan Insurance Corporation. COMMITTEE RECOMMENDATION The Committee recommends a limitation of $30,313,000 on necessary expenses of the Federal Home Loan Bank Board, an increase of $300,000 over the level requested by the administration and $173,000 less than the House allowance. The Committee concurs with the House in providing an increase of $300,000 over the budget estimate to maintain the current State examiner training budget of $800,000. The Committee also agrees with House-approved bill language insuring that these funds are devoted exclusively to the training program. The Committee is pleased to note that the Bank Board has taken steps to deal with abuses involving the travel of Board members and employees. All administrative expenses, including travel, are controlled by the statutory limitation in the bill and the Committee expects the Board to closely monitor costs incurred in the course of official travel to make sure they can properly be paid for with funds provided through the limitation. The Federal Savings and Loan Insurance Corporation is authorized under title IV of the National Housing Act to insure savings in all Federal savings and loan associations, certain federally chartered savings banks, and in State-chartered institutions of the savings and loan type which apply and qualify for insurance. This protection, which insures each saver in a member association against financial loss up to a statutory limit of $100,000, may be provided either through the prevention of default or the payment of insurance to savings account holders in the event of liquidation. The Corporation is also authorized to make loans to institutions in financial difficulty. The Corporation functions under the direction of the Federal Home Loan Bank Board, which provides administrative services. The expenses of the Board and its staff offices are paid from assessments made on the Corporation and the Federal Home Loan Banks. COMMITTEE RECOMMENDATION The Committee recommends $1,610,000 for the limitation on the administrative expenses of the Federal Savings and Loan Insurance Corporation in fiscal year 1988. This is the same as the budget request and $9,000 less than the House allowance. TITLE IV-GENERAL PROVISIONS The Committee concurs with all of the general provisions that were included in the House-passed HUD-Independent Agencies Appropriations Act with the following exceptions: One, the Committee recommends modification of the limitation on the amounts that can be received by consultants. This modification increases the ceiling to the maximum rate paid to ES-6 employees ($77,500) and extends the limitation to employees who are on assignment from colleges and universities. A more detailed discussion of this language can be found in the National Science Foundation portion of this report. Two, the Committee recommends deletion of language prohibiting the demolition of certain public housing units in Dallas and Houston, TX. A more complete explanation can be found under the assisted housing section of this report. COMPLIANCE WITH PARAGRAPH 7, RULE XVI, OF THE STANDING RULES OF THE SENATE Paragraph 7 of rule XVI requires that Committee reports on general appropriations bills identify each Committee amendment to the House bill "which proposes an item of appropriation which is not made to carry out the provisions of an existing law, a treaty stipulation, or an act or resolution previously passed by the Senate during that session." Appropriations recommended for the National Aeronautics and Space Administration's Mars observer and Magellan space science missions and the radon programs conducted by the Environmental Protection Agency exceed existing law or Senate-passed authorizations for these programs. COMPLIANCE WITH PARAGRAPH 12, RULE XXVI OF THE STANDING RULES OF THE SENATE Paragraph 12 of rule XXVI requires that Committee reports on a bill or joint resolution repealing or amending any statute or part of any statute include “(a) the text of the statute or part thereof which is proposed to be repealed; and (b) a comparative print of that part of the bill or joint resolution making the amendment and of the statute or part thereof proposed to be amended, showing by stricken-through type and italics, parallel columns, or other appropriate typographical devices the omissions and insertions which would be made by the bill or joint resolution if enacted in the form recommended by the committee." With respect to this bill, it is the opinion of the Committee that no part of said bill, with the following exception, falls within the ambit of said rule: Amendment to title I of the Housing and Community Development Act of 1974, as amended: URBAN DEVELOPMENT ACTION GRANTS SEC. 119(n)(1). For the purposes of this section, the term (2) The Secretary may not approve a grant to an Indian tribe under this section unless the tribe (A) is located on a reservation or in an Alaskan Native Village or on former Indian reservation lands in Oklahoma, and (B) is an eligible recipient under the State and Local Fiscal Assistance Act of 1972. BUDGETARY IMPACT OF BILL PREPARED BY THE CONGRESSIONAL BUDGET OFFICE PURSUANT TO SEC. 308(a), PUBLIC LAW 93-344, AS AMENDED [In millions of dollars] 1Includes outlays from prior year budget authority; adjusted to conform with Committee estimates in allocations. Excludes outlays from prior year budget authority. |