[Congressional Bills 112th Congress]
[From the U.S. Government Publishing Office]
[S. 527 Introduced in Senate (IS)]

112th CONGRESS
  1st Session
                                 S. 527

To amend the Emergency Economic Stabilization Act of 2008 to terminate 
     the authority of the Secretary of the Treasury to provide new 
   assistance under the Home Affordable Modification Program, while 
preserving assistance to homeowners who were already extended an offer 
  to participate in the Program, either on a trial or permanent basis.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                             March 9, 2011

  Mr. DeMint (for himself, Mr. Corker, and Mr. Coburn) introduced the 
 following bill; which was read twice and referred to the Committee on 
                  Banking, Housing, and Urban Affairs

_______________________________________________________________________

                                 A BILL


 
To amend the Emergency Economic Stabilization Act of 2008 to terminate 
     the authority of the Secretary of the Treasury to provide new 
   assistance under the Home Affordable Modification Program, while 
preserving assistance to homeowners who were already extended an offer 
  to participate in the Program, either on a trial or permanent basis.

    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 ``HAMP Termination Act of 2011''.

SEC. 2. TERMINATION OF AUTHORITY.

    Section 120 of the Emergency Economic Stabilization Act of 2008 (12 
U.S.C. 5230) is amended by adding at the end the following new 
subsection:
    ``(c) Termination of Authority To Provide New Assistance Under the 
Home Affordable Modification Program.--
            ``(1) In general.--Except as provided under paragraph (2), 
        after the date of the enactment of this subsection the 
        Secretary may not provide any assistance under the Home 
        Affordable Modification Program under the Making Home 
        Affordable initiative of the Secretary, authorized under this 
        Act, on behalf of any homeowner.
            ``(2) Protection of existing obligations on behalf of 
        homeowners already extended an offer to participate in the 
        program.--Paragraph (1) shall not apply with respect to 
        assistance provided on behalf of a homeowner who, before the 
        date of the enactment of this subsection, was extended an offer 
        to participate in the Home Affordable Modification Program on a 
        trial or permanent basis.''.
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