Summary: H.R.1418 — 98th Congress (1983-1984)All Information (Except Text)

There is one summary for H.R.1418. Bill summaries are authored by CRS.

Shown Here:
Introduced in House (02/10/1983)

Residential Mortgage Investment Act of 1983 - Amends the Employee Retirement Income Security Act of 1974 and the Internal Revenue Code to exempt from specified prohibited transaction provisions: (1) any qualified mortgage transaction engaged in by an employee benefit plan provided only that such transaction received the prior approval of an independent fiduciary; and (2) purchase, retention, or sale by an employee benefit plan of interests in Federal or State government-guaranteed residential mortgage loans.