I 
112TH CONGRESS 
1ST SESSION H. R. 2441 
To terminate the Housing Trust Fund and the requirement that Fannie 
Mae and Freddie Mac make annual allocations for such Fund. 
IN THE HOUSE OF REPRESENTATIVES 
JULY 7, 2011 
Mr. ROYCE (for himself, Mr. BACHUS, and Mr. GARRETT) introduced the 
following bill; which was referred to the Committee on Financial Services 
A BILL 
To terminate the Housing Trust Fund and the requirement 
that Fannie Mae and Freddie Mac make annual alloca-
tions for such Fund. 
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 ‘‘Housing Trust Fund 
Elimination Act of 2011’’. 
SEC. 2. TERMINATION OF HOUSING TRUST FUND, CAPITAL 
MAGNET FUND, AND HOPE RESERVE FUND. 
(a) TERMINATION.—Immediately upon the enact-
ment of this Act— 
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(1) the Secretary of Housing and Urban Devel-
opment shall transfer any amounts in the Housing 
Trust Fund established under section 1338 of the 
Federal Housing Enterprises Financial Safety and 
Soundness Act of 1992 (12 U.S.C. 4568) to the Sec-
retary of the Treasury for use only under subsection 
(b) of this section; 
(2) any amounts in the Capital Magnet Fund 
established under section 1339 of the Federal Hous-
ing Enterprises Financial Safety and Soundness Act 
of 1992 (12 U.S.C. 4569) shall be available to the 
Secretary of the Treasury for use only under sub-
section (b) of this section; 
(3) any amounts in the HOPE Reserve Fund 
established under section 1337(e) of the Federal 
Housing Enterprises Financial Safety and Sound-
ness Act of 1992 (12 U.S.C. 4567(e)) shall be avail-
able to the Secretary of the Treasury for use only 
under subsection (b) of this section; and 
(4) sections 1337, 1338, and 1339 of the Fed-
eral Housing Enterprises Financial Safety and 
Soundness Act of 1992 (12 U.S.C. 4567–9) are re-
pealed and the HOPE Reserve Fund, Housing Trust 
Fund, and Capital Magnet Fund established under 
such sections are abolished. 
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(b) USE OF REMAINING AMOUNTS.—Amounts made 
available pursuant to paragraphs (1) and (2) of subsection 
(a) shall be used only for reducing the budget deficit of 
the Federal Government. 
(c) CONFORMING AMENDMENTS.— 
(1) FEDERAL
HOUSING
ENTERPRISES
FINAN-
CIAL SAFETY AND SOUNDNESS ACT OF 1992.—The 
Federal Housing Enterprises Financial Safety and 
Soundness Act of 1992 is amended— 
(A) in section 1303(24) (12 U.S.C. 
4502(24)), by striking subparagraph (B); 
(B) in section 1324(b)(1)(A) (12 U.S.C. 
4544(b)(91)(A))— 
(i) by striking clause (iii); and 
(ii) by redesignating clauses (iv) and 
(v) as clauses (iii) and (iv), respectively; 
(C) 
in 
section 
1335(d) 
(12 
U.S.C. 
4565(d)), by striking paragraph (4); 
(D) in section 1345 (12 U.S.C. 4585), by 
striking subsection (f); and 
(E) in section 1371(a)(2) (12 U.S.C. 
4631(a)(2)), by striking ‘‘or 1337’’. 
(2) HOPE FOR HOMEOWNERS PROGRAM.—Sec-
tion 257(w) of the National Housing Act (12 U.S.C. 
1715z–23(w)) is amended— 
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(A) by striking paragraphs (2) and (3); 
and 
(B) by redesignating paragraph (4) as 
paragraph (2). 
Æ 
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