Legislative History
Senate Bill 1047 was introduced on May 17, 2005, by Senator John E. Sununu with over 70 co-sponsors. It was reported favorably out of the U.S. Senate Committee on Banking, Housing, and Urban Affairs without amendment on July 29, 2005. The Senate passed it with a technical amendment (S.AMDT.26760), by unanimous consent on November 18, 2005. The House of Representatives passed it (291–113) on December 13, 2005. (A similar bill, H.R. 902, had previously passed in the House, but it was the Senate bill which was passed by both chambers.) The engrossed bill was presented to President Bush on December 15, 2005, and he signed it into law on December 22, 2005.
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