3.0.0 1182 2023-01-11T13:20:17Z 2023-01-11T13:20:17Z House H HR 2011-03-17 112 From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. HENSARLING:H.R. 1182.Congress has the power to enact this legislation pursuantto the following:Under Article I, Section 9, Clause 7 of the United StatesConstitution, which states: ``No Money shall be drawn fromthe Treasury, but in Consequence of Appropriations made byLaw . . .''[Page H1987]]]> hsba00 Financial Services Committee House Standing hsba16 Capital Markets Subcommittee Referred to 2011-04-04T21:04:34Z Referred to 2011-03-17T13:03:00Z GSE Portfolio Risk Reduction Act of 2011 112 1224 HR 2011-04-06 Forwarded by Subcommittee to Full Committee (Amended) by the Yeas and Nays: 20 - 14 . Related bill CRS Fannie Mae and Freddie Mac Taxpayer Payback Act of 2011 112 2436 HR 2011-07-12 Forwarded by Subcommittee to Full Committee by Voice Vote . Related bill CRS GSE Bailout Elimination and Taxpayer Protection Act 112 693 S 2011-03-31 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Identical bill CRS 2011-04-04 hsba16 Capital Markets Subcommittee 1 House committee actions Referred to the Subcommittee on Capital Markets and Government Sponsored Enterprises. Committee 2011-03-17 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2011-03-17 Introduced in House IntroReferral Intro-H 9 Library of Congress 2011-03-17 Introduced in House IntroReferral 1000 9 Library of Congress H001036 Rep. Hensarling, Jeb [R-TX-5] Jeb Hensarling R TX 5 N B000013 Rep. Bachus, Spencer [R-AL-6] SPENCER BACHUS R AL 6 2011-03-17 True N000182 Rep. Neugebauer, Randy [R-TX-19] Randy Neugebauer R TX 19 2011-03-31 False P000583 Rep. Paul, Ron [R-TX-14] RON PAUL R TX 14 2011-03-31 False M001138 Rep. Manzullo, Donald A. [R-IL-16] DONALD MANZULLO R IL 16 2011-03-31 False W000796 Rep. Westmoreland, Lynn A. [R-GA-3] Lynn Westmoreland R GA A. 3 2011-03-31 False G000548 Rep. Garrett, Scott [R-NJ-5] Scott Garrett R NJ 5 2011-03-31 False P000587 Rep. Pence, Mike [R-IN-6] MIKE PENCE R IN 6 2011-03-31 False J000255 Rep. Jones, Walter B., Jr. [R-NC-3] WALTER JONES R NC B. 3 2011-04-05 False J000289 Rep. Jordan, Jim [R-OH-4] Jim Jordan R OH 4 2011-04-06 False P000591 Rep. Price, Tom [R-GA-6] Tom Price R GA 6 2011-04-06 False W000798 Rep. Walberg, Tim [R-MI-7] Tim Walberg R MI 7 2011-04-06 False W000811 Rep. Walsh, Joe [R-IL-8] Joe Walsh R IL 8 2011-04-06 False B001274 Rep. Brooks, Mo [R-AL-5] Mo Brooks R AL 5 2011-04-06 False M001182 Rep. Mulvaney, Mick [R-SC-5] Mick Mulvaney R SC 5 2011-04-06 False L000564 Rep. Lamborn, Doug [R-CO-5] Doug Lamborn R CO 5 2011-04-06 False B001250 Rep. Bishop, Rob [R-UT-1] Rob Bishop R UT 1 2011-04-06 False F000456 Rep. Fleming, John [R-LA-4] John Fleming R LA 4 2011-04-06 False K000362 Rep. King, Steve [R-IA-5] Steve King R IA 5 2011-04-06 False F000444 Rep. Flake, Jeff [R-AZ-6] JEFF FLAKE R AZ 6 2011-04-06 False B000208 Rep. Bartlett, Roscoe G. [R-MD-6] ROSCOE BARTLETT R MD G. 6 2011-04-06 False S001188 Rep. Stutzman, Marlin A. [R-IN-3] Marlin Stutzman R IN A. 3 2011-04-06 False D000616 Rep. DesJarlais, Scott [R-TN-4] Scott DesJarlais R TN 4 2011-04-06 False R000589 Rep. Rigell, E. Scott [R-VA-2] E. Rigell R VA Scott 2 2011-04-06 False G000550 Rep. Gingrey, Phil [R-GA-11] Phil Gingrey R GA 11 2011-04-06 False H001058 Rep. Huizenga, Bill [R-MI-2] Bill Huizenga R MI 2 2011-04-06 False G000552 Rep. Gohmert, Louie [R-TX-1] Louie Gohmert R TX 1 2011-04-06 False B001243 Rep. Blackburn, Marsha [R-TN-7] Marsha Blackburn R TN 7 2011-04-06 False B001262 Rep. Broun, Paul C. [R-GA-10] Paul Broun R GA C. 10 2011-04-12 False J000292 Rep. Johnson, Bill [R-OH-6] Bill Johnson R OH 6 2011-04-12 False R000570 Rep. Ryan, Paul [R-WI-1] PAUL RYAN R WI 1 2011-04-12 False L000576 Rep. Long, Billy [R-MO-7] Billy Long R MO 7 2011-04-13 False C001087 Rep. Crawford, Eric A. "Rick" [R-AR-1] Eric Crawford R AR A. "Rick" 1 2011-04-13 False P000373 Rep. Pitts, Joseph R. [R-PA-16] JOSEPH PITTS R PA R. 16 2011-04-13 False F000448 Rep. Franks, Trent [R-AZ-2] Trent Franks R AZ 2 2011-04-13 False K000363 Rep. Kline, John [R-MN-2] John Kline R MN 2 2011-04-13 False G000567 Rep. Griffin, Tim [R-AR-2] Tim Griffin R AR 2 2011-04-13 False G000563 Rep. Gibbs, Bob [R-OH-18] Bob Gibbs R OH 18 2011-04-13 False H001059 Rep. Hultgren, Randy [R-IL-14] Randy Hultgren R IL 14 2011-04-13 False C001053 Rep. Cole, Tom [R-OK-4] Tom Cole R OK 4 2011-04-13 False B001256 Rep. Bachmann, Michele [R-MN-6] Michele Bachmann R MN 6 2011-04-13 False C001062 Rep. Conaway, K. Michael [R-TX-11] K. Conaway R TX Michael 11 2011-04-13 False L000517 Rep. Lungren, Daniel E. [R-CA-3] DANIEL LUNGREN R CA EDWARD 3 2011-04-13 False J000174 Rep. Johnson, Sam [R-TX-3] SAM JOHNSON R TX 3 2011-04-14 False H001060 Rep. Hurt, Robert [R-VA-5] Robert Hurt R VA 5 2011-04-14 False S001183 Rep. Schweikert, David [R-AZ-5] David Schweikert R AZ 5 2011-04-14 False F000445 Rep. Forbes, J. Randy [R-VA-4] J. Forbes R VA Randy 4 2011-04-15 False M001147 Rep. McCotter, Thaddeus G. [R-MI-11] Thaddeus McCotter R MI G. 11 2011-04-15 False H000528 Rep. Herger, Wally [R-CA-2] WALLY HERGER R CA 2 2011-05-25 False S000244 Rep. Sensenbrenner, F. James, Jr. [R-WI-5] F. SENSENBRENNER R WI JAMES 5 2011-05-25 False C001082 Rep. Canseco, Francisco "Quico" [R-TX-23] Francisco Canseco R TX Quico 23 2011-05-25 False M001156 Rep. McHenry, Patrick T. [R-NC-10] Patrick McHenry R NC 10 2011-05-25 False C001076 Rep. Chaffetz, Jason [R-UT-3] Jason Chaffetz R UT 3 2011-06-13 False H001057 Rep. Huelskamp, Tim [R-KS-1] Tim Huelskamp R KS 1 2011-06-14 False L000566 Rep. Latta, Robert E. [R-OH-5] Robert Latta R OH E. 5 2011-06-21 False M001151 Rep. Murphy, Tim [R-PA-18] Tim Murphy R PA 18 2011-06-21 False M001158 Rep. Marchant, Kenny [R-TX-24] Kenny Marchant R TX 24 2011-09-08 False D000615 Rep. Duncan, Jeff [R-SC-3] Jeff Duncan R SC 3 2011-09-08 False W000809 Rep. Womack, Steve [R-AR-3] Steve Womack R AR 3 2011-09-08 False G000560 Rep. Graves, Tom [R-GA-9] Tom Graves R GA 9 2011-09-08 False J000290 Rep. Jenkins, Lynn [R-KS-2] Lynn Jenkins R KS 2 2011-09-09 False M001144 Rep. Miller, Jeff [R-FL-1] Jeff Miller R FL 1 2011-09-09 False G000566 Rep. Gowdy, Trey [R-SC-4] Trey Gowdy R SC 4 2011-09-21 False B001275 Rep. Bucshon, Larry [R-IN-8] Larry Bucshon R IN 8 2011-09-21 False G000570 Rep. Guinta, Frank C. [R-NH-1] Frank Guinta R NH C. 1 2011-09-21 False R000582 Rep. Roe, David P. [R-TN-1] David Roe R TN P. 1 2011-10-04 False W000795 Rep. Wilson, Joe [R-SC-2] Joe Wilson R SC 2 2011-11-01 False A000367 Rep. Amash, Justin [R-MI-3] Justin Amash R MI 3 2011-11-16 False R000583 Rep. Rooney, Thomas J. [R-FL-16] Thomas Rooney R FL J. 16 2011-11-16 False G000565 Rep. Gosar, Paul A. [R-AZ-1] Paul Gosar R AZ A. 1 2012-01-17 False R000587 Rep. Ribble, Reid J. [R-WI-8] Reid Ribble R WI J. 8 2012-01-23 False R000593 Rep. Ross, Dennis A. [R-FL-12] Dennis Ross R FL A. 12 2012-02-29 False Q000024 Rep. Quayle, Benjamin [R-AZ-3] Benjamin Quayle R AZ 3 2012-02-29 False S000822 Rep. Stearns, Cliff [R-FL-6] CLIFF STEARNS R FL 6 2012-03-29 False B001273 Rep. Black, Diane [R-TN-6] Diane Black R TN 6 2012-04-16 False O000168 Rep. Olson, Pete [R-TX-22] Pete Olson R TX 22 2012-04-24 False S001176 Rep. Scalise, Steve [R-LA-1] Steve Scalise R LA 1 2012-05-15 False C001048 Rep. Culberson, John Abney [R-TX-7] JOHN CULBERSON R TX ABNEY 7 2012-05-15 False B001271 Rep. Benishek, Dan [R-MI-1] Dan Benishek R MI 1 2012-05-15 False M000689 Rep. Mica, John L. [R-FL-7] JOHN MICA R FL L. 7 2012-06-21 False H001053 Rep. Hartzler, Vicky [R-MO-4] Vicky Hartzler R MO 4 2012-07-19 False Y000063 Rep. Yoder, Kevin [R-KS-3] Kevin Yoder R KS 3 2012-12-20 False Housing and Community Development Bankruptcy Business investment and capital Congressional oversight Corporate finance and management Government corporations and government-sponsored enterprises Government lending and loan guarantees Government studies and investigations Government trust funds Housing finance and home ownership Interest, dividends, interest rates Securities State and local taxation User charges and fees Housing and Community Development 00 2011-03-17 Introduced in House 2011-04-26T16:53:32Z GSE Bailout Elimination and Taxpayer Protection Act - Sets a deadline for the Director of the Federal Housing Finance Agency (FHFA) to terminate the conservatorship of either the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac) if the Director determines that it is financially viable. (Refers to both Fannie Mae and Freddie Mac as enterprises [government-sponsored enterprises, or GSEs].)

Requires the Director to appoint the FHFA immediately as receiver of either enterprise if it is found not to be financially viable.

Amends the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 (FHEFSSA) to repeal: (1) its housing goals, and (2) the housing trust fund.

Amends the Housing and Community Development Act of 1992 to restrict the authority of an enterprise to acquire mortgage assets following its emergence from conservatorship.

Repeals certain temporary, general, and permanent high-cost area increases to conforming loan limits.

Establishes new conforming loan limits.

Amends FHEFSSA to require the Director to require each enterprise to charge a guarantee fee, in connection with any mortrgage guaranteed after a specified three-year period, in an amount equivalent to that which the enterprise would charge if it were held to the same capital standards as private banks or financial institutions.

Amends the Federal National Mortgage Association Charter Act (FNMACA) and the Federal Home Loan Mortgage Corporation Act (FHLMCA) to prohibit reduction in the rate of dividends paid on each enterprise's Variable Liquidation Preference Senior Preferred Stock.

Amends FHEFSSA to require the Director to establish minimum levels of capital for the enterprises, including levels in excess of such minimums as necessary or appropriate in light of an enterprise's particular circumstances. Authorizes the Director to deem failure of an enterprise to maintain revised minimum capital levels to constitute an unsafe and unsound condition.

Amends FNMACA and FHLMCA to: (1) prohibit the enterprises from purchasing mortgages if the mortgagor has paid less than the specified minimum downpayment; and (2) require the enterprises to pay state and local taxes.

Repeals the exemption of mortgage-backed securities and subordinate obligations of Fannie Mae, as well as mortgage-backed securities of Freddie Mac, from regulation by the Securities and Exchange Commission (SEC), thus subjecting such securities and obligations to SEC regulation.

Prescribes a deadline and procedures for the wind down of operations and dissolution of an enterprise three years after enactment of this Act.

]]> GSE Bailout Elimination and Taxpayer Protection Act Display Title GSE Bailout Elimination and Taxpayer Protection Act Official Title as Introduced To establish a term certain for the conservatorships of Fannie Mae and Freddie Mac, to provide conditions for continued operation of such enterprises, and to provide for the wind down of such operations and the dissolution of such enterprises. Introduced in House IH Short Titles as Introduced GSE Bailout Elimination and Taxpayer Protection Act Introduced in House 2011-03-17T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-112hr1182ih/xml/BILLS-112hr1182ih.xml 2011-04-04 Referred to the Subcommittee on Capital Markets and Government Sponsored Enterprises. 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. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.