Authorizes the Treasury to buy up to $700 billion in mortgages to give relief to banks.

Requires Treasury to modify mortgages when possible to help people keep their homes.

Raises the FDIC limit from $100,000 to $250,000 on bank deposits.

Adds $110 billion in incentives to the version of the proposal that failed in the House, including clean energy development and funding for Payment in Lieu of Taxes, which particularly benefits Western states like Utah.