[Congressional Bills 111th Congress]
[From the U.S. Government Publishing Office]
[H.R. 5391 Introduced in House (IH)]

111th CONGRESS
  2d Session
                                H. R. 5391

 To revise the requirements regarding congressional testimony for the 
                Federal Housing Finance Oversight Board.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                              May 25, 2010

Mr. Hensarling (for himself, Mr. Bachus, and Mr. Garrett of New Jersey) 
 introduced the following bill; which was referred to the Committee on 
                           Financial Services

_______________________________________________________________________

                                 A BILL


 
 To revise the requirements regarding congressional testimony for the 
                Federal Housing Finance Oversight Board.

    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 Oversight 
Board Increased Transparency Act of 2010''.

SEC. 2. CONGRESSIONAL TESTIMONY.

    Subsection (e) of section 1313A of the Federal Housing Enterprises 
Financial Safety and Soundness Act of 1992 (12 U.S.C. 4513a) is 
amended--
            (1) in the matter preceding paragraph (1)--
                    (A) by striking ``On an annual basis'' and 
                inserting ``Not less frequently than annually''; and
                    (B) by striking ``Congress'' and inserting ``the 
                Committee on Financial Services of the House of 
                Representatives and the Committee on Banking, Housing, 
                and Urban Affairs of the Senate''; and
            (2) by inserting after and below paragraph (6) the 
        following new flush matter:
``If at any time either enterprise receives funds from the Department 
of the Treasury under the Amended and Restated Senior Preferred Stock 
Purchase Agreement, dated September 26, 2008, amended May 6, 2009, and 
further amended December 24, 2009, between the United States Department 
of the Treasury and each enterprise, the Board shall testify before 
each of the Committees referred to in the preceding sentence before the 
conclusion of the calendar quarter during which such enterprise 
received such funds regarding the matters referred to in this 
subsection and such receipt of funds, and any testimony pursuant to 
this sentence during a year shall be considered to satisfy the 
requirement, for such year, under the preceding sentence to testify not 
less frequently than annually.''.
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