[Congressional Bills 112th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2462 Introduced in House (IH)]

112th CONGRESS
  1st Session
                                H. R. 2462

 To limit the aggregate amount provided by the taxpayers of the United 
         States for the bailout of Fannie Mae and Freddie Mac.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                              July 8, 2011

 Mr. Fitzpatrick introduced the following bill; which was referred to 
                  the Committee on Financial Services

_______________________________________________________________________

                                 A BILL


 
 To limit the aggregate amount provided by the taxpayers of the United 
         States for the bailout of Fannie Mae and Freddie Mac.

    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 ``Cap the GSE Bailout Act of 2011''.

SEC. 2. REESTABLISHMENT OF MAXIMUM AGGREGATE AMOUNT PERMITTED TO BE 
              PROVIDED BY THE TAXPAYERS TO FANNIE MAE AND FREDDIE MAC.

    (a) Maximum Aggregate Amount of Commitment.--No funds may be 
provided by the United States Department of the Treasury or any other 
agency or entity of the Federal Government to either regulated entity 
(as such term is defined in section 1303 of the Federal Housing 
Enterprises Financial Safety and Soundness Act of 1992 (12 U.S.C. 
4502)), as part of the Amended and Restated Senior Preferred Stock 
Purchase Agreement, dated September 26, 2008, amended May 6, 2009, and 
further amended December 24, 2009 (as such agreement may be further 
amended), between the United States Department of the Treasury and the 
Federal National Mortgage Association, or the Federal Home Loan 
Mortgage Corporation, as applicable, under any other agreement between 
either such regulated entity and the Department of the Treasury, or 
otherwise, that exceed a maximum aggregate amount of the greater of--
            (1) $200,000,000,000, or
            (2) $200,000,000,000, plus the cumulative total of 
        deficiency amounts of the regulated entity determined for 
        calendar quarters in calendar years 2010, 2011, and 2012, less 
        any surplus amount determined as of December 31, 2012.
    (b) Definitions.--For purposes of this section, the terms 
``deficiency amount'' and ``surplus amount'' have the meanings provided 
such terms in the applicable Senior Preferred Stock Purchase Agreement 
described in subsection (a), as amended through December 24, 2009.
    (c) Enforcement.--The Administrator of the Federal Housing Finance 
Agency shall take such actions as necessary to prevent each regulated 
entity from requesting or receiving any funds that exceed the limit 
provided in subsection (a).
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