Political Quotes

“I have an amendment at the desk, and I ask for its immediate consideration. The Acting CHAIR. The Clerk will designate the amendment. The text of the amendment is as follows: Amendment No. 9 offered by Mr. Turner: At the end of the bill, add the following new section: SEC. 16. FHA MAXIMUM LOAN LIMITS FOR 2010. Section 166 of the Continuing Appropriations Resolution, 2010 (as added by section 104 of Public Law 111-88; 123 Stat. 2972) is amended-- (1) in subsection (a), by striking ``For'' and inserting ``Except as provided in subsection (c), for''; (2) in subsection (b), by inserting ``the lesser of the applicable amount under subsection (c) of this section or'' after ``but in no case to an amount that exceeds'' ; and (3) by adding at the end the following new subsection: ``(c) Absolute Ceiling Limits.--Notwithstanding any other provision of this section, the maximum dollar amount limitation on the principal obligation of a mortgage determined under this section for any area or subarea may not exceed, in the case of a one-family residence, $500,000, and in the case of a 2-, 3-, or 4-family residence, the percentage of such amount that bears the same ratio to such amount as the dollar amount limitation determined under the sixth sentence of section 305(a)(2) of the Federal Home Loan Mortgage Corporation Act for a 2-, 3-, or 4-family residence, respectively, bears to the dollar amount limitation determined under such section for a 1-family residence.''.…”