An Act to extend certain laws relating to the payment of interest on time and savings deposits, to prohibit depository institutions from permitting negotiable orders of withdrawal to be made with respect to any deposit or account on which any interest or dividend is paid, to authorize Federal savings and loan associations and national banks to own stock in and invest in loans to certain State housing corporations, and for other purposes.
Public Law 93-100 · H.R. 6370 · 93rd Congress · began in the House
Signed by Richard Nixon (R) on Aug 16, 1973 · Finance and Financial Sector
Sponsor: Rep. Fernand St. Germain (D-RI-1)
Cosponsors: None
Passage votes
- HouseMethod not stated
- SenateMethod not stated
Data notes
The final version of the law, as each chamber passed it. A chamber that passed it by voice vote or unanimous consent has no count. “Method not stated” means the record does not say how the chamber voted. Where the record has a member-by-member vote, the “Who voted for it” section shows who voted yea.
Summary
The Congressional Research Service’s plain-language summary of what the law does.
Extends through 1974 the authority of the Federal Reserve System to regulate interest rates or dividends payable by financial institutions.
Provides means whereby private financial institutions can assist in providing housing, particularly for families of low- or moderate-income, by purchasing stock of, and investing in loans to, any such State housing corporation situated in the particular State in which the Federal savings and loan association or national bank involved is located.
Provides for premium payments by insured savings and loan associations to the Federal Savings and Loan Insurance Corporation.
Requires each insured institution to make such deposits in the Corporation as may from time to time be required by call of the Federal Home Loan Bank Board.
Provides that no depository institution shall allow the owner of a deposit or account on which interest or dividends are paid to make withdrawals by negotiable or transferable instruments for the purpose of making transfers to third parties, except that such withdrawals may be made in the States of Massachusetts and New Hampshire. Exempts credit unions from such requirement.
State Taxation of Depositories Act - Provides that, from enactment until January 1, 1976, no State or political subdivision thereof may impose any tax measured by income or receipts or any other "doing business" tax on any insured depository not having its principal office within such State.
Directs the Advisory Commission on Intergovernmental Relations to make a study of all pertinent matters relating to the application of State "doing business" taxes on out-of-State commercial banks, mutual savings banks, and savings and loan associations. Requires the Commission to make a report of such study no later than December 31, 1974.
Authorizes to be appropriated to the Commission such sums as may be necessary to carry out the provisions of this section.
Committees
The committees the bill was sent to, and what each did with it.
Data notes
A committee links to its page only where it exists in the current Congress; older and renamed committees are named without a link.
Timeline
From introduction to signing, newest first: the committees, the floor and the president. 16 actions.
- Aug 16, 1973Became lawBecame law · Signed by President.
- PresidentPresident · Public law 93-100.
- Aug 4, 1973PresidentPresident · Measure presented to President.
- Aug 3, 1973Resolving differencesResolving differences · Senate agreed to conference report.
- Resolving differencesResolving differences · Conference report agreed to in Senate: Senate agreed to conference report.
- Resolving differencesResolving differences · House agreed to conference report.
- Resolving differencesResolving differences · Conference report agreed to in House: House agreed to conference report.
- Jul 31, 1973Resolving differencesResolving differences · Conference report filed in House, H. Rept. 93-418.
- Resolving differencesResolving differences · Conference report filed: Conference report filed in House, H. Rept. 93-418.
- May 23, 1973Resolving differencesResolving differences · Conference scheduled in House.
- May 22, 1973Resolving differencesResolving differences · Conference scheduled in Senate.
- FloorFloor · Measure passed Senate, amended in lieu of S. 1798.
- May 9, 1973FloorFloor · Measure passed House, roll call #133 (376-4).House roll call 133
- Apr 16, 1973CommitteeCommittee · Reported by House Financial Services Committee
- Mar 29, 1973CommitteeCommittee · Referred to House Financial Services Committee
- IntroducedIntroduced · Introduced in the House
Data notes
Shows the introduction, each committee and subcommittee step the source dates (referral, hearings, markup, report, discharge), and the floor, conference, presidential and became-law steps. Calendar placements, messages between the chambers, amendments and committee report numbers are not shown for laws before the 108th Congress. Two entries the source lists twice are shown once.
Official record
The bill’s full text and every action, including introduction and committee steps, are on Congress.gov. Data through Oct 7, 2026.