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    <number>1224</number>
    <updateDate>2023-01-11T13:20:16Z</updateDate>
    <updateDateIncludingText>2023-01-11T13:20:16Z</updateDateIncludingText>
    <originChamber>House</originChamber>
    <originChamberCode>H</originChamberCode>
    <type>HR</type>
    <introducedDate>2011-03-29</introducedDate>
    <congress>112</congress>
    <constitutionalAuthorityStatementText><![CDATA[<pre>From the Congressional Record Online through the Government Publishing Office [<a href='http://www.gpo.gov'>www.gpo.gov</a>]By Mr. HENSARLING:H.R. 1224.Congress has the power to enact this legislation pursuantto the following:Under Article I, Section 8, Clauses 1 (``The Congress shallhave Power To lay and collect Taxes, Duties, Imposts andExcises, to pay the Debts and provide for the common Defenseand general Welfare of the United States; but all Duties,Imposts and Excises shall be uniform throughout the UnitedStates''), 3 (``To regulate Commerce with foreign Nations,and among the several States, and with the Indian Tribes''),and 18 (``To make all Laws which shall be necessary andproper for carrying into Execution the foregoing Powers, andall other Powers vested by this Constitution in theGovernment of the United States, or in any Department orOfficer thereof'').[Page H2038]</pre>]]></constitutionalAuthorityStatementText>
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        <title>Spending Reduction Act of 2011</title>
        <congress>112</congress>
        <number>408</number>
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          <actionDate>2011-03-23</actionDate>
          <text>Referred to the Subcommittee on Capital Markets and Government Sponsored Enterprises.</text>
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        <title>GSE Bailout Elimination and Taxpayer Protection Act</title>
        <congress>112</congress>
        <number>1182</number>
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          <actionDate>2011-04-04</actionDate>
          <text>Referred to the Subcommittee on Capital Markets and Government Sponsored Enterprises.</text>
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          <actionDate>2011-03-31</actionDate>
          <text>Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.</text>
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        <text>Forwarded by Subcommittee to Full Committee (Amended) by the Yeas and Nays: 20 - 14 .</text>
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        <text>Referred to the Subcommittee on Capital Markets and Government Sponsored Enterprises.</text>
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        <text>Hearings Held by the Subcommittee on Capital Markets and Government Sponsored Enterprises Prior to Referral.</text>
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        <bioguideId>H001036</bioguideId>
        <fullName>Rep. Hensarling, Jeb [R-TX-5]</fullName>
        <firstName>Jeb</firstName>
        <lastName>Hensarling</lastName>
        <party>R</party>
        <state>TX</state>
        <district>5</district>
        <isByRequest>N</isByRequest>
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    </sponsors>
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      <item>
        <bioguideId>B000013</bioguideId>
        <fullName>Rep. Bachus, Spencer [R-AL-6]</fullName>
        <firstName>SPENCER</firstName>
        <lastName>BACHUS</lastName>
        <party>R</party>
        <state>AL</state>
        <district>6</district>
        <sponsorshipDate>2011-03-29</sponsorshipDate>
        <isOriginalCosponsor>True</isOriginalCosponsor>
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      <item>
        <bioguideId>G000548</bioguideId>
        <fullName>Rep. Garrett, Scott [R-NJ-5]</fullName>
        <firstName>Scott</firstName>
        <lastName>Garrett</lastName>
        <party>R</party>
        <state>NJ</state>
        <district>5</district>
        <sponsorshipDate>2011-03-29</sponsorshipDate>
        <isOriginalCosponsor>True</isOriginalCosponsor>
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      <item>
        <bioguideId>P000588</bioguideId>
        <fullName>Rep. Pearce, Stevan [R-NM-2]</fullName>
        <firstName>Stevan</firstName>
        <lastName>Pearce</lastName>
        <party>R</party>
        <state>NM</state>
        <district>2</district>
        <sponsorshipDate>2011-03-29</sponsorshipDate>
        <isOriginalCosponsor>True</isOriginalCosponsor>
      </item>
      <item>
        <bioguideId>C001047</bioguideId>
        <fullName>Rep. Capito, Shelley Moore [R-WV-2]</fullName>
        <firstName>Shelley</firstName>
        <lastName>Capito</lastName>
        <party>R</party>
        <state>WV</state>
        <middleName>Moore</middleName>
        <district>2</district>
        <sponsorshipDate>2011-04-05</sponsorshipDate>
        <isOriginalCosponsor>False</isOriginalCosponsor>
      </item>
      <item>
        <bioguideId>C001082</bioguideId>
        <fullName>Rep. Canseco, Francisco "Quico" [R-TX-23]</fullName>
        <firstName>Francisco</firstName>
        <lastName>Canseco</lastName>
        <party>R</party>
        <state>TX</state>
        <middleName>Quico</middleName>
        <district>23</district>
        <sponsorshipDate>2011-06-02</sponsorshipDate>
        <isOriginalCosponsor>False</isOriginalCosponsor>
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    </cosponsors>
    <policyArea>
      <name>Housing and Community Development</name>
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    <subjects>
      <legislativeSubjects>
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          <name>Banking and financial institutions regulation</name>
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        <item>
          <name>Government corporations and government-sponsored enterprises</name>
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        <item>
          <name>Housing finance and home ownership</name>
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        <item>
          <name>Securities</name>
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        <name>Housing and Community Development</name>
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        <versionCode>00</versionCode>
        <actionDate>2011-03-29</actionDate>
        <actionDesc>Introduced in House</actionDesc>
        <updateDate>2011-05-16T15:52:17Z</updateDate>
        <text><![CDATA[ <p>GSE Portfolio Risk Reduction Act of 2011 - Amends the Housing and Community Development Act of 1992 to prohibit the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) (government-sponsored enterprises or GSEs) from owning mortgage assets in excess of: (1) $700 billion one year after enactment of this Act; (2) $600 billion two years after enactment of this Act; (3) $475 billion three years after enactment of this Act; (4) $350 billion four years after enactment of this Act; and (5) $250 billion five years after enactment of this Act. </p>]]></text>
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    </summaries>
    <title>GSE Portfolio Risk Reduction Act of 2011</title>
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        <titleType>Display Title</titleType>
        <title>GSE Portfolio Risk Reduction Act of 2011</title>
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        <titleType>Official Title as Introduced</titleType>
        <title>To increase the rate of the required annual reductions of the retained portfolios of Fannie Mae and Freddie Mac.</title>
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        <title>GSE Portfolio Risk Reduction Act of 2011</title>
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        <date>2011-03-29T04:00:00Z</date>
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    <latestAction>
      <actionDate>2011-04-06</actionDate>
      <text>Forwarded by Subcommittee to Full Committee (Amended) by the Yeas and Nays: 20 - 14 .</text>
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    <dc:rights>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.</dc:rights>
    <dc:contributor>Congressional Research Service, Library of Congress</dc:contributor>
    <dc:description>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.</dc:description>
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