I 
110TH CONGRESS 
2D SESSION 
H. R. 6955 
To suspend contributions by the Federal National Mortgage Association and 
Federal Home Loan Mortgage Corporation to the Housing Trust Fund 
during any conservatorship of such enterprises and to ensure full repay-
ment to the Federal Government for costs of any such conservatorship 
and costs of HOPE for Homeowners program. 
IN THE HOUSE OF REPRESENTATIVES 
SEPTEMBER 18, 2008 
Mr. BARRETT of South Carolina (for himself, Mr. BACHUS, Mr. GARRETT of 
New Jersey, Mr. WILSON
of South Carolina, Mr. DUNCAN, Mr. 
NEUGEBAUER, Mr. MCHENRY, Mr. MANZULLO, Mr. JONES of North 
Carolina, Ms. GINNY BROWN-WAITE of Florida, and Mr. ROSKAM) intro-
duced the following bill; which was referred to the Committee on Finan-
cial Services 
A BILL 
To suspend contributions by the Federal National Mortgage 
Association and Federal Home Loan Mortgage Corpora-
tion to the Housing Trust Fund during any conservator-
ship of such enterprises and to ensure full repayment 
to the Federal Government for costs of any such con-
servatorship and costs of HOPE for Homeowners pro-
gram. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
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SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Taxpayer Reimburse-
ment Act of 2008’’. 
SEC. 2. SUSPENSION OF HOUSING TRUST FUND CONTRIBU-
TIONS. 
(a) DURING
CONSERVATORSHIP
AND
RECEIVER-
SHIP.—Section 1337(b) of the Federal Housing Enter-
prises Financial Safety and Soundness Act of 1992, as 
added by section 1131(b) of the Federal Housing Finance 
Regulatory Reform Act of 2008 (Division A of Public Law 
110–289), is amended by adding after and below para-
graph (3) the following: 
‘‘The Director shall suspend allocations under subsection 
(a) by an enterprise upon the appointment of any conser-
vator or receiver for the enterprise pursuant to section 
1367 and for the entire duration of any such conservator-
ship or receivership.’’. 
(b) DURING HOPE FOR HOMEOWNERS PROGRAM.— 
Paragraph (1) of section 1338(b) of the Federal Housing 
Enterprises Financial Safety and Soundness Act of 1992, 
as added by section 1131(b) of the Federal Housing Fi-
nance Regulatory Reform Act of 2008 (Division A of Pub-
lic Law 110–289), is amended by striking the dash after 
‘‘1337(e)’’ and all that follows through the end of the 
paragraph and inserting the following: ‘‘100 percent of 
such excess shall be used to reimburse the Treasury for 
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payments made pursuant to section 257(w)(1)(c) of the 
National Housing Act in calendar years 2009, 2010, and 
2011 or any other year that the HOPE for Homeowners 
Program under such section 257 is in operation.’’. 
(c) UNTIL
COSTS
OF
CONSERVATORSHIP
ARE 
PAID.—Section 1337(b) of the Federal Housing Enter-
prises Financial Safety and Soundness Act of 1992, as 
added by section 1131(b) of the Federal Housing Finance 
Regulatory Reform Act of 2008 (Division A of Public Law 
110–289), is amended—— 
(1) in paragraph (2), by striking ‘‘or’’ at the 
end; 
(2) in paragraph (3), by striking the period at 
the end and inserting ‘‘; or’’; and 
(3) by adding at the end the following new 
paragraph: 
‘‘(4) the Federal Government has not been fully 
reimbursed for all costs to the Government of any 
conservatorship of the enterprise pursuant to section 
1367.’’. 
SEC. 3. SUSPENSION OF HOUSING GOALS. 
Section 1331 of the Federal Housing Enterprises Fi-
nancial Safety and Soundness Act of 1992, as added by 
section 1128(b) of the Federal Housing Finance Regu-
latory Reform Act of 2008 (Division A of Public Law 110– 
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289), is amended by adding at the end the following new 
subsection: 
‘‘(e) SUSPENSION OF GOALS AND DUTIES DURING 
CONSERVATORSHIP.—Notwithstanding any other provi-
sion of this title, the annual goals and the duties estab-
lished under this subpart shall not apply to an enterprise 
at any time during which the enterprise is in conservator-
ship or receivership pursuant to section 1367.’’. 
Æ 
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