IB 

Union Calendar No. 497 

115TH CONGRESS 

2D SESSION H. R. 4560 

[Report No. 115–648] 

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 

APRIL 24, 2018 

Committed to the Committee of the Whole House on the State of the Union 

and ordered to be printed 


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•HR 4560 RH

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. 


daltland on DSKBBV9HB2PROD with BILLS
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•HR 4560 RH

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’’. 

6 SEC. 2. EXTENSION OF LIMITATION ON SALE OF PRE7 FERRED STOCK. 

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

9 Consolidated Appropriations Act, 2016 (Public Law 114– 

10 113; 129 Stat. 3025) is amended by striking ‘‘January 

11 1, 2018’’ and inserting ‘‘January 1, 2019’’. 

12 SEC. 3. CONSERVATION OF CAPITAL DURING PERIODS OF 

13 LOW NET WORTH. 

14 Subsection (b) of section 1337 of the Federal Hous15 ing Enterprises Financial Safety and Soundness Act of 

16 1992 (12 U.S.C. 4567(b)) is amended— 

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

18 ‘‘Notwithstanding any other provision of law, the Di19 rector’’; 

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

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

22 and realigning such subparagraphs (as so redesig23 nated) so as to be indented 4 ems from the left mar24 gin; 


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1 (3) by striking ‘‘by an enterprise upon a find2 ing’’ and inserting the following: ‘‘by an enterprise— 

3 ‘‘(1) upon a finding’’; 

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

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

6 this section, by striking the period at the end at in7 serting ‘‘; or’’; and 

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

9 paragraph: 

10 ‘‘(2) for a fiscal year, if, for any Dividend Pe11 riod ending during such fiscal year, the holders of 

12 outstanding shares of Senior Preferred Stock of 

13 such enterprise do not receive cumulative cash divi14 dends in an amount equal to the Dividend Amount 

15 for such Dividend Period. 

16 For purposes of paragraph (2), the terms ‘Dividend Pe17 riod’, ‘Senior Preferred Stock’, and ‘Dividend Amount’ 

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

19 given such terms for purposes of the Amended and Re20 stated Senior Preferred Stock Purchase Agreement, dated 

21 September 26, 2008, and entered into between the De22 partment of the Treasury and such enterprise, as such 

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

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

25 not take into consideration any additional amendment to 


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•HR 4560 RH

1 such Agreement made after the date of the enactment of 

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


daltland on DSKBBV9HB2PROD with BILLS
Union Calendar No. 497 

115TH CONGRESS 

2D SESSION H. R. 4560 

[Report No. 115–648] 

A BILL 

To suspend contributions by Fannie Mae and 

made, and for other purposes. chase Agreements for such enterprises are not ments under the Senior Preferred Stock Purany period that the full required dividend payFreddie Mac to the Housing Trust Fund during 

APRIL 24, 2018 

Committed to the Committee of the Whole House on the 

State of the Union and ordered to be printed 


daltland on DSKBBV9HB2PROD with BILLS