[Congressional Bills 111th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4450 Introduced in House (IH)]

111th CONGRESS
  2d Session
                                H. R. 4450

   To establish an interim Inspector General for the Federal Housing 
                            Finance Agency.


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                    IN THE HOUSE OF REPRESENTATIVES

                            January 13, 2010

  Mr. Moore of Kansas (for himself, Mrs. Biggert, Mr. Towns, and Mr. 
    Issa) introduced the following bill; which was referred to the 
 Committee on Financial Services, and in addition to the Committee on 
   Oversight and Government Reform, for a period to be subsequently 
   determined by the Speaker, in each case for consideration of such 
 provisions as fall within the jurisdiction of the committee concerned

_______________________________________________________________________

                                 A BILL


 
   To establish an interim Inspector General for the Federal Housing 
                            Finance Agency.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Federal Housing Finance Agency 
Inspector General Technical Corrections Act of 2009''.

SEC. 2. INTERIM INSPECTOR GENERAL.

    (a) Designated Federal Entity.--During the period beginning on the 
date of the enactment of this Act and ending upon the date that an 
Inspector General of the Federal Housing Finance Agency is first 
appointed and confirmed pursuant to section 1317(d) of the Federal 
Housing Enterprises Financial Safety and Soundness Act of 1990 (12 
U.S.C. 4517(d)), the Federal Housing Finance Agency shall be considered 
to be a designated Federal entity for purposes of section 8G of the 
Inspector General Act of 1978 (5 U.S.C. App.).
    (b) Establishment.--Notwithstanding the first sentence of 
subsection (b) of section 8G of the Inspector General Act of 1978, 
there is established upon the date of the enactment of this Act, and 
there shall be maintained, in the Federal Housing Finance Agency an 
Office of the Inspector General.
    (c) Appointment.--
            (1) Requirement; timing.--The Director of the Federal 
        Housing Finance Agency shall appoint an Inspector General of 
        the Federal Housing Finance Agency pursuant to subsection (a) 
        of this section and section 8G(c) of the Inspector General Act 
        of 1978 as soon as possible after the date of the enactment of 
        this Act, but not later than the expiration of the 30-day 
        period beginning upon the date of the enactment of this Act.
            (2) Clarification; pay.--Any provision of the Inspector 
        General Act of 1978 and the Inspector General Reform Act of 
        2008 (Public Law 110-409) that is applicable to a designated 
        Federal entity or the Inspector General of a designated Federal 
        entity shall be applicable to the Federal Housing Finance 
        Agency and the Inspector General of the Federal Housing Finance 
        Agency appointed pursuant to this subsection, respectively, 
        until the expiration of the period referred to in subsection 
        (a) and the termination referred to subsection (e), except that 
        such Inspector General shall be paid at the rate payable under 
        section 5314 of title 5, United States Code, for level III of 
        the Executive Schedule, plus 3 percent, and employees and 
        consultants of the Office of the Inspector General of the 
        Federal Housing Finance Agency shall be paid pursuant to 
        paragraphs (7) and (8) of section 6(a) of the Inspector General 
        Act of 1978.
    (d) Continued Oversight.--The Inspector General of the Federal 
Housing Finance Agency appointed in accordance with subsection (c) of 
this section shall make every effort to recover and continue any 
oversight, investigations, and reviews initiated with respect to the 
Agency, or with respect to any programs or operations transferred to 
such Agency, by any prior Inspectors General responsible for oversight 
of such Agency, or for oversight of any such transferred programs or 
operations, or by the staffs of such Inspectors General, including any 
oversight, investigations, and reviews initiated by the former 
Inspector General of the former Federal Housing Finance Board before or 
after the abolishment of such Board.
    (e) Termination.--Immediately upon the expiration of the period 
referred to in subsection (a), the position of Inspector General of the 
Federal Housing Finance Agency established pursuant to this section, 
and the term of service of the individual serving in such position, 
shall terminate.
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