I 
113TH CONGRESS 
1ST SESSION H. R. 2348 
To provide certainty that Congress and the Administration will undertake 
substantive and structural housing finance reform, and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
JUNE 13, 2013 
Mr. SCHWEIKERT introduced the following bill; which was referred to the 
Committee on Financial Services, and in addition to the Committee on 
the Budget, for a period to be subsequently determined by the Speaker, 
in each case for consideration of such provisions as fall within the juris-
diction of the committee concerned 
A BILL 
To provide certainty that Congress and the Administration 
will undertake substantive and structural housing finance 
reform, and for other purposes. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Jumpstart GSE Re-
form Act’’. 
SEC. 2. DEFINITIONS. 
As used in this Act, the following definitions shall 
apply: 
VerDate Mar 15 2010 
01:15 Jun 19, 2013
Jkt 029200
PO 00000
Frm 00001
Fmt 6652
Sfmt 6201
E:\BILLS\H2348.IH
H2348
pwalker on DSK7TPTVN1PROD with BILLS
(1) ENTERPRISE.—The term ‘‘enterprise’’ has 
the same meaning as in section 1303 of the Federal 
Housing Enterprises Financial Safety and Sound-
ness Act of 1992. 
(2) GUARANTEE
FEE.—The term ‘‘guarantee 
fee’’ has the same meaning as in section 1327(a) of 
the Housing and Community Development Act of 
1992 (12 U.S.C. 4547(a)). 
(3) SECRETARY.—The term ‘‘Secretary’’ means 
the Secretary of the Treasury. 
(4) SENIOR
PREFERRED
STOCK
PURCHASE 
AGREEMENT.—The term ‘‘Senior Preferred Stock 
Purchase Agreement’’ means— 
(A) the Amended and Restated Senior Pre-
ferred Stock Purchase Agreement, dated Sep-
tember 26, 2008, as such Agreement has been 
amended on May 6, 2009, December 24, 2009, 
and August 17, 2012, respectively, and as such 
Agreement may be further amended and re-
stated, entered into between the Department of 
the Treasury and each enterprise, as applicable; 
and 
(B) any provision of any certificate in con-
nection with such Agreement creating or desig-
nating the terms, powers, preferences, privi-
VerDate Mar 15 2010 
01:15 Jun 19, 2013
Jkt 029200
PO 00000
Frm 00002
Fmt 6652
Sfmt 6201
E:\BILLS\H2348.IH
H2348
pwalker on DSK7TPTVN1PROD with BILLS
leges, limitations, or any other conditions of the 
Variable Liquidation Preference Senior Pre-
ferred Stock of an enterprise issued or sold pur-
suant to such Agreement. 
SEC. 3. PROHIBITION ON USE OF GUARANTEE FEES TO 
OFFSET OTHER GOVERNMENT SPENDING. 
An increase in the guarantee fee required to be 
charged by an enterprise may not be used to offset an 
increase in outlays or a reduction in revenues for any pur-
pose (other than those related to the enterprises’ business 
functions) under— 
(1) the congressional budget; 
(2) the Balanced Budget and Emergency Def-
icit Control Act of 1985; or 
(3) the Statutory Pay-As-You-Go Act of 2010. 
SEC. 4. LIMITATIONS ON SALE OF PREFERRED STOCK. 
Notwithstanding any other provision of law or any 
provision of the Senior Preferred Stock Purchase Agree-
ment, the Secretary may not sell, transfer, relinquish, liq-
uidate, divest, or otherwise dispose of any outstanding 
shares of senior preferred stock acquired pursuant to the 
Senior Preferred Stock Purchase Agreement, until such 
time as Congress has passed and the President has signed 
into law legislation that includes a specific instruction to 
the Secretary regarding the sale, transfer, relinquishment, 
VerDate Mar 15 2010 
01:15 Jun 19, 2013
Jkt 029200
PO 00000
Frm 00003
Fmt 6652
Sfmt 6201
E:\BILLS\H2348.IH
H2348
pwalker on DSK7TPTVN1PROD with BILLS
liquidation, divestiture, or other disposition of the senior 
preferred stock so acquired. 
Æ 
VerDate Mar 15 2010 
01:15 Jun 19, 2013
Jkt 029200
PO 00000
Frm 00004
Fmt 6652
Sfmt 6301
E:\BILLS\H2348.IH
H2348
pwalker on DSK7TPTVN1PROD with BILLS