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HR 1226 IH
112th CONGRESS
1st Session
H. R. 1226
To repeal the affordable housing goals for Fannie Mae and Freddie Mac.
IN THE HOUSE OF REPRESENTATIVES
March 29, 2011
Mr. ROYCE (for himself, Mr. BACHUS, Mr. GARRETT, Mr. PEARCE, and Mr. HENSARLING) introduced the following bill; which was referred to the Committee on Financial Services
A BILL
To repeal the affordable housing goals for Fannie Mae and Freddie Mac.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
SEC. 2. REPEAL OF AFFORDABLE HOUSING GOALS.
(a) Repeal- The Federal Housing Enterprises Financial Safety and Soundness Act of 1992 is amended by striking sections 1331 through 1336 (12 U.S.C. 4561-6).
(b) Conforming Amendments- Federal Housing Enterprises Financial Safety and Soundness Act of 1992 is amended--
(1) in section 1303(28) (12 U.S.C. 4502(28)), by striking ‘and, for the purposes’ and all that follows through ‘designated disaster areas’;
(2) in section 1324(b)(1)(A) (12 U.S.C. 4544(b)(1)(A))--
(A) by striking clauses (i), (ii), and (iv);
(B) in clause (iii), by inserting ‘and’ after the semicolon at the end; and
(C) by redesignating clauses (iii) and (v) as clauses (i) and (ii), respectively;
(3) in section 1338(c)(10) (12 U.S.C. 4568(c)(10)), by striking subparagraph (E);
(4) in section 1339(h) (12 U.S.C. 4569), by striking paragraph (7);
(5) in section 1341 (12 U.S.C. 4581)--
(A) in subsection (a)--
(i) in paragraph (1), by inserting ‘or’ after the semicolon at the end;
(ii) in paragraph (2), by striking the semicolon at the end and inserting a period; and
(iii) by striking paragraphs (3) and (4); and
(B) in subsection (b)(2)--
(i) in subparagraph (A), by inserting ‘or’ after the semicolon at the end;
(ii) by striking subparagraphs (B) and (C); and
(iii) by redesignating subparagraph (D) as subparagraph (B);
(6) in section 1345(a) (12 U.S.C. 4585(a))--
(A) in paragraph (1), by inserting ‘or’ after the semicolon at the end;
(B) in paragraph (2), by striking the semicolon at the end and inserting a period; and
(C) by striking paragraphs (3) and (4); and
(7) in section 1371(a)(2) (12 U.S.C. 4631(a)(2))--
(A) by striking ‘with any housing goal established under subpart B of part 2 of subtitle A of this title,’; and
(B) by striking ‘section 1336 or’.
U.S. Congress - Text of H.R.1226 as Introduced in House GSE Mission Improvement Act of 2011
