STATEMENT TO

ASSEMBLY CONCURRENT RESOLUTION No. 23

with Assembly Floor Amendments

(Proposed By Assemblyman GARCIA)

ADOPTED: JUNE 19, 1997

      These amendments recognize the fact that the Resolution Trust Corporation, which was established by Congress to be conservator and receiver of failed Savings and Loan Associations, terminated under federal law in December of 1995. The Federal Deposit Insurance Corporation (FDIC) now oversees the affordable housing inventory referenced in the resolution.