[Congressional Bills 112th Congress]
[From the U.S. Government Publishing Office]
[H.R. 836 Introduced in House (IH)]

112th CONGRESS
  1st Session
                                H. R. 836

 To rescind the unobligated funding for the Emergency Mortgage Relief 
                 Program and to terminate the program.


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                    IN THE HOUSE OF REPRESENTATIVES

                           February 28, 2011

 Mr. Hensarling (for himself, Mr. Bachus, and Mrs. Biggert) introduced 
 the following bill; which was referred to the Committee on Financial 
                                Services

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                                 A BILL


 
 To rescind the unobligated funding for the Emergency Mortgage Relief 
                 Program and to terminate the program.

    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 ``Emergency Mortgage Relief Program 
Termination Act''.

SEC. 2. RESCISSION OF FUNDING FOR EMERGENCY MORTGAGE RELIEF PROGRAM.

    Effective on the date of the enactment of this Act, there are 
rescinded and permanently canceled all unobligated balances remaining 
available as of such date of enactment of the amounts made available by 
section 1496(a) of the Dodd-Frank Wall Street Reform and Consumer 
Protection Act (Public Law 111-203; 124 Stat. 2207; 12 U.S.C. 2706 
note).

SEC. 3. TERMINATION OF EMERGENCY MORTGAGE RELIEF PROGRAM.

    (a) Repeal.--Title I of the Emergency Housing Act of 1975 (12 
U.S.C. 2701 et seq.), as amended by section 1496(b) of the Dodd-Frank 
Wall Street Reform and Consumer Protection Act, is hereby repealed.
    (b) Treatment of Remaining Funds.--Notwithstanding the repeal under 
subsection (a) of this section, any amounts made available under the 
provision specified in section 2 of this Act and obligated before the 
date of the enactment of this Act shall continue to be governed by the 
provisions of law specified in subsection (a) of this section, as in 
effect immediately before such repeal.
    (c) Termination.--Upon the completion of outlays to liquidate all 
amounts referred to in subsection (b) of this section and the 
completion of all activities with respect to such amounts under the 
provisions of law specified in subsection (a) of this section, the 
Secretary of Housing and Urban Development shall terminate the 
Emergency Mortgage Relief Program authorized under the provisions 
specified in subsection (a).
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