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Code · BILL · 114th Congress · H.R. 574 (Introduced in House) — To prohibit contributions by Fannie Mae and Freddie Mac to the Housing Trust Fund and the Capital Market Fund while s... · Sec. 2

Sec. 2. Prohibition of contributions to Housing Trust Fund and Capital Magnet Fund while enterprises are in conservatorship or receivership

209 words·~1 min read·/bill/114/hr/574/ih/section-2

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Notwithstanding section 1337 of the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 ( 12 U.S.C. 4567 ) or any other provision of law, after the date of the enactment of this Act, the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation shall not, during the term of any conservatorship or receivership of such an enterprise pursuant to section 1367 of such Act ( 12 U.S.C. 4617 ), make any contribution or transfer to, or allocate or set aside any amounts for, the Housing Trust Fund established under section 1338 of such Act ( 12 U.S.C. 4568 ) or the Capital Magnet Fund established under section 1339 of such Act ( 12 U.S.C. 4569 ).
Any amounts that, before the date of the enactment of this Act, have been set aside by the Federal National Mortgage Association or the Federal Home Loan Mortgage Corporation for the Housing Trust Fund or the Capital Magnet Fund referred to in subsection
(a)of this section but not yet allocated or transferred to such a Fund shall not be so allocated or transferred but shall be covered into the General Fund of the Treasury and shall be used only for reducing the budget deficit of the Federal Government.
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Sec. 2
Prohibition of contributions to Housing Trust Fund and Capital Magnet Fund while enterprises are in conservatorship or receivership
U.S.C.§ 4567
U.S.C.§ 4617
U.S.C.§ 4568
U.S.C.§ 4569
Cites 4Cited by 0 across 0 sources
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