Sec. 103. Repeal of Capital Magnet Fund

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Immediately upon the enactment of this Act, any amounts in the Capital Magnet Fund established under section 1339 of the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 ( 12 U.S.C. 4569 ) shall be available to the Secretary of the Treasury for use only for reducing the budget deficit of the Federal Government. Section 1339 of the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 ( 12 U.S.C. 4569 ) is hereby repealed and the Capital Magnet Fund established under such section is abolished. Section 1303(24) of the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 ( 12 U.S.C. 4502(24) ) is amended by striking subparagraph (B).

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U.S. Code

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Sec. 103

Repeal of Capital Magnet Fund

U.S.C.§ 4569

U.S.C.§ 4502

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