US SB2038 | 2015-2016 | 114th Congress
Status
Spectrum: Bipartisan Bill
Status: Introduced on September 16 2015 - 25% progression, died in committee
Action: 2015-09-16 - Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Pending: Senate Banking, Housing, And Urban Affairs Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on September 16 2015 - 25% progression, died in committee
Action: 2015-09-16 - Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Pending: Senate Banking, Housing, And Urban Affairs Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Jumpstart GSE Reform Act Prohibits the use of an increase in the guarantee fee required to be charged by the Federal National Mortgage Association (Fannie Mae), the Federal Home Loan Mortgage Corporation (Freddie Mac), or any affiliate of such organizations (enterprises) to offset an increase in outlays or a reduction in revenues for any purposes other than those related to the enterprises' business functions under: (1) the congressional budget, (2) the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act), or (3) the Statutory Pay-As-You-Act 2010. Prohibits the Department of the Treasury from selling, transferring, relinquishing, liquidating, divesting, or otherwise disposing of any outstanding shares of senior preferred stock acquired pursuant to a specified Senior Preferred Stock Purchase Agreement between Treasury and an enterprise until Congress has passed and the President has signed into law legislation that includes a specific instruction to Treasury regarding the sale, transfer, relinquishment, liquidation, divestiture, or other disposition of the senior preferred stock so acquired.
Title
Jumpstart GSE Reform Act
Sponsors
Sen. Bob Corker [R-TN] | Sen. Mark Warner [D-VA] | Sen. David Vitter [R-LA] | Sen. Elizabeth Warren [D-MA] |
History
Date | Chamber | Action |
---|---|---|
2015-09-16 | Senate | Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. |
Same As/Similar To
SB1484 (Related) 2015-07-23 - Committee on Banking, Housing, and Urban Affairs. Hearings held.
SB1910 (Related) 2015-07-30 - Placed on Senate Legislative Calendar under General Orders. Calendar No. 176.
SB1910 (Related) 2015-07-30 - Placed on Senate Legislative Calendar under General Orders. Calendar No. 176.
Subjects
Government corporations and government-sponsored enterprises
Housing and community development
Housing finance and home ownership
Securities
User charges and fees
Housing and community development
Housing finance and home ownership
Securities
User charges and fees
US Congress State Sources
Type | Source |
---|---|
Summary | https://www.congress.gov/bill/114th-congress/senate-bill/2038/all-info |
Text | https://www.congress.gov/114/bills/s2038/BILLS-114s2038is.pdf |