A bill to amend the Federal Deposit Insurance Act to provide for the issuance of income capital certificates.
Public Law 98-29 · S. 1011 · 98th Congress · began in the Senate
Signed by Ronald Reagan (R) on May 16, 1983 · Finance and Financial Sector
Sponsor: Sen. Mark Hatfield (R-OR)
Cosponsors (1): Sen. Robert Packwood
Passage votes
- HouseVoice vote
- SenateVoice vote
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.
Amends the Federal Deposit Insurance Act to declare that the issuance of net worth certificates by a financial institution to the Federal Deposit Insurance Corporation under the capital assistance program shall not constitute a default under the terms of any debt obligations subordinated to the claims of general creditors which were outstanding when such net worth certificates were issued.
Committees
The record shows no committee referral for this bill.
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. 6 actions.
- May 16, 1983Became lawBecame law · Became Public Law No: 98-29.
- Became lawBecame law · Signed by President.
- May 4, 1983PresidentPresident · Presented to President.
- May 3, 1983FloorFloor · Passed House by Voice Vote.
- Apr 15, 1983FloorFloor · Passed Senate without amendment by Voice Vote.
- Apr 7, 1983IntroducedIntroduced · Introduced in the Senate
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.