113 HR 941 IH: End Unnecessary Borrowing Act of 2013 U.S. House of Representatives 2013-03-04 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.

I 113th CONGRESS 1st Session H. R. 941 IN THE HOUSE OF REPRESENTATIVES March 4, 2013 Mr. Capuano introduced the following bill; which was referred to the Committee on Financial Services A BILL To ensure that any authority of the Mutual Mortgage Insurance Fund to borrow amounts from the Treasury is used only to pay mortgage insurance claims.

1.

Short title

This Act may be cited as the End Unnecessary Borrowing Act of 2013.

2.

Limitation on use of borrowing authority

Paragraph (2) of section 206(f) of the National Housing Act (12 U.S.C. 1711(f)(2)) is amended— (1)by inserting (A) after (2); and (2)by adding at the end the following new subparagraphs: (B)Subparagraph (A) may not be construed to authorize or require the Secretary to borrow any amounts to comply with the capital ratio requirement under such subparagraph. (C)Notwithstanding any other provision of law, any authority of the Secretary under this Act or otherwise to borrow amounts from the Treasury of the United States for the Mutual Mortgage Insurance Fund may be used only to the extent necessary to pay claims on mortgage insurance that is an obligation of such Fund. .