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 enter-
prises 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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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 Pre-
ferred Stock Purchase Agreements for such enterprises 
are not made, and for other purposes. 
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20:49 Apr 24, 2018
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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 ‘‘GSE Jumpstart Reau-
thorization Act of 2017’’. 
SEC. 2. EXTENSION OF LIMITATION ON SALE OF PRE-
FERRED STOCK. 
Subsection (b) of section 702 of division O of the 
Consolidated Appropriations Act, 2016 (Public Law 114– 
113; 129 Stat. 3025) is amended by striking ‘‘January 
1, 2018’’ and inserting ‘‘January 1, 2019’’. 
SEC. 3. CONSERVATION OF CAPITAL DURING PERIODS OF 
LOW NET WORTH. 
Subsection (b) of section 1337 of the Federal Hous-
ing Enterprises Financial Safety and Soundness Act of 
1992 (12 U.S.C. 4567(b)) is amended— 
(1) by striking ‘‘The Director’’ and inserting 
‘‘Notwithstanding any other provision of law, the Di-
rector’’; 
(2) by redesignating paragraphs (1), (2), and 
(3) as subparagraphs (A), (B), and (C), respectively, 
and realigning such subparagraphs (as so redesig-
nated) so as to be indented 4 ems from the left mar-
gin; 
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(3) by striking ‘‘by an enterprise upon a find-
ing’’ and inserting the following: ‘‘by an enterprise— 
‘‘(1) upon a finding’’; 
(4) in paragraph (1)(C), as so redesignated by 
the amendments made by paragraphs (2) and (3) of 
this section, by striking the period at the end at in-
serting ‘‘; or’’; and 
(5) by adding at the end the following new 
paragraph: 
‘‘(2) for a fiscal year, if, for any Dividend Pe-
riod ending during such fiscal year, the holders of 
outstanding shares of Senior Preferred Stock of 
such enterprise do not receive cumulative cash divi-
dends in an amount equal to the Dividend Amount 
for such Dividend Period. 
For purposes of paragraph (2), the terms ‘Dividend Pe-
riod’, ‘Senior Preferred Stock’, and ‘Dividend Amount’ 
shall, with respect to an enterprise, have the meanings 
given such terms for purposes of the Amended and Re-
stated Senior Preferred Stock Purchase Agreement, dated 
September 26, 2008, and entered into between the De-
partment of the Treasury and such enterprise, as such 
Agreement has been amended on May 6, 2009, December 
24, 2009, and August 17, 2012, but such meanings shall 
not take into consideration any additional amendment to 
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such Agreement made after the date of the enactment of 
the GSE Jumpstart Reauthorization Act of 2017.’’. 
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Union Calendar No. 497 
115TH CONGRESS 
2D SESSION 
H. R. 4560 
[Report No. 115–648] 
A BILL 
To suspend contributions by Fannie Mae and 
Freddie Mac to the Housing Trust Fund during 
any period that the full required dividend pay-
ments under the Senior Preferred Stock Pur-
chase Agreements for such enterprises are not 
made, and for other purposes. 
APRIL 24, 2018 
Committed to the Committee of the Whole House on the 
State of the Union and ordered to be printed 
VerDate Sep 11 2014 
20:49 Apr 24, 2018
Jkt 079200
PO 00000
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