I 

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. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘GSE Jumpstart Reau5 thorization Act of 2017’’. 


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•HR 4560 IH

1 SEC. 2. EXTENSION OF LIMITATION ON SALE OF PRE2 FERRED STOCK. 

3 Subsection (b) of section 702 of division O of the 

4 Consolidated Appropriations Act, 2016 (Public Law 114– 

5 113; 129 Stat. 3025) is amended by striking ‘‘January 

6 1, 2018’’ and inserting ‘‘January 1, 2019’’. 

7 SEC. 3. CONSERVATION OF CAPITAL DURING PERIODS OF 

8 LOW NET WORTH. 

9 Subsection (b) of section 1337 of the Federal Hous10 ing Enterprises Financial Safety and Soundness Act of 

11 1992 (12 U.S.C. 4567(b)) is amended— 

12 (1) by striking ‘‘The Director’’ and inserting 

13 ‘‘Notwithstanding any other provision of law, the Di14 rector’’; 

15 (2) by redesignating paragraphs (1), (2), and 

16 (3) as subparagraphs (A), (B), and (C), respectively, 

17 and realigning such subparagraphs (as so redesig18 nated) so as to be indented 4 ems from the left mar19 gin; 

20 (3) by striking ‘‘by an enterprise upon a find21 ing’’ and inserting the following: ‘‘by an enterprise— 

22 ‘‘(1) upon a finding’’; 

23 (4) in paragraph (1)(C), as so redesignated by 

24 the amendments made by paragraphs (2) and (3) of 

25 this section, by striking the period at the end at in26 serting ‘‘; or’’; and 


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1 (5) by adding at the end the following new 

2 paragraph: 

3 ‘‘(2) for a fiscal year, if, for any Dividend Pe4 riod ending during such fiscal year, the holders of 

5 outstanding shares of Senior Preferred Stock of 

6 such enterprise do not receive cumulative cash divi7 dends in an amount equal to the Dividend Amount 

8 for such Dividend Period. 

9 For purposes of paragraph (2), the terms ‘Dividend Pe10 riod’, ‘Senior Preferred Stock’, and ‘Dividend Amount’ 

11 shall, with respect to an enterprise, have the meanings 

12 given such terms for purposes of the Amended and Re13 stated Senior Preferred Stock Purchase Agreement, dated 

14 September 26, 2008, and entered into between the De15 partment of the Treasury and such enterprise, as such 

16 Agreement has been amended on May 6, 2009, December 

17 24, 2009, and August 17, 2012, but such meanings shall 

18 not take into consideration any additional amendment to 

19 such Agreement made after the date of the enactment of 

20 the GSE Jumpstart Reauthorization Act of 2017.’’. 

Æ 


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