[Congressional Bills 115th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4560 Introduced in House (IH)]

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115th CONGRESS
  1st Session
                                H. R. 4560

 To suspend contributions by Fannie Mae and Freddie Mac to the Housing 
 Trust Fund during any period that the full required dividend payments 
     under the Senior Preferred Stock Purchase Agreements for such 
           enterprises are not made, and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            December 6, 2017

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

_______________________________________________________________________

                                 A BILL


 
 To suspend contributions by Fannie Mae and Freddie Mac to the Housing 
 Trust Fund during any period that the full required dividend payments 
     under the Senior Preferred Stock Purchase Agreements for such 
           enterprises are not made, and for other purposes.

    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 ``GSE Jumpstart Reauthorization Act of 
2017''.

SEC. 2. EXTENSION OF LIMITATION ON SALE OF PREFERRED STOCK.

    Subsection (b) of section 702 of division O of the Consolidated 
Appropriations Act, 2016 (Public Law 114-113; 129 Stat. 3025) is 
amended by striking ``January 1, 2018'' and inserting ``January 1, 
2019''.

SEC. 3. CONSERVATION OF CAPITAL DURING PERIODS OF LOW NET WORTH.

    Subsection (b) of section 1337 of the Federal Housing Enterprises 
Financial Safety and Soundness Act of 1992 (12 U.S.C. 4567(b)) is 
amended--
            (1) by striking ``The Director'' and inserting 
        ``Notwithstanding any other provision of law, the Director'';
            (2) by redesignating paragraphs (1), (2), and (3) as 
        subparagraphs (A), (B), and (C), respectively, and realigning 
        such subparagraphs (as so redesignated) so as to be indented 4 
        ems from the left margin;
            (3) by striking ``by an enterprise upon a finding'' and 
        inserting the following: ``by an enterprise--
            ``(1) upon a finding'';
            (4) in paragraph (1)(C), as so redesignated by the 
        amendments made by paragraphs (2) and (3) of this section, by 
        striking the period at the end at inserting ``; or''; and
            (5) by adding at the end the following new paragraph:
            ``(2) for a fiscal year, if, for any Dividend Period ending 
        during such fiscal year, the holders of outstanding shares of 
        Senior Preferred Stock of such enterprise do not receive 
        cumulative cash dividends in an amount equal to the Dividend 
        Amount for such Dividend Period.
For purposes of paragraph (2), the terms `Dividend Period', `Senior 
Preferred Stock', and `Dividend Amount' shall, with respect to an 
enterprise, have the meanings given such terms for purposes of the 
Amended and Restated Senior Preferred Stock Purchase Agreement, dated 
September 26, 2008, and entered into between the Department of the 
Treasury and such enterprise, as such Agreement has been amended on May 
6, 2009, December 24, 2009, and August 17, 2012, but such meanings 
shall not take into consideration any additional amendment to such 
Agreement made after the date of the enactment of the GSE Jumpstart 
Reauthorization Act of 2017.''.
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