Description: H.Amdt.1005 — 110th Congress (2007-2008)
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.
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.
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