138 
allocated to the affordable housing fund of an enter-
prise pursuant to paragraph (1). 
(3) AFTER-TAX INCOME.—For purposes of this 
subsection, the term ‘‘after-tax income’’ has the mean-
ing provided in subsection (b)(3) of the new section 
1337 to be inserted by the amendment made by sub-
section (a) of this section. 
(4) EFFECTIVE DATE.—This subsection shall take 
effect on the date of the enactment of this Act. 
SEC. 129. CONSISTENCY WITH MISSION. 
Subpart B of part 2 of subtitle A of title XIII of the 
Housing and Community Development Act of 1992 (12 
U.S.C. 4561 et seq.) is amended by adding after section 
1337, as added by section 127 of this Act, the following new 
section: 
‘‘SEC. 1338. CONSISTENCY WITH MISSION. 
‘‘This subpart may not be construed to authorize an 
enterprise to engage in any program or activity that con-
travenes or is inconsistent with the Federal National Mort-
gage Association Charter Act or the Federal Home Loan 
Mortgage Corporation Act.’’. 
SEC. 130. ENFORCEMENT. 
(a) CEASE-AND-DESIST PROCEEDINGS.—Section 1341 
of the Housing and Community Development Act of 1992 
(12 U.S.C. 4581) is amended—
139 
(1) by striking subsection (a) and inserting the 
following new subsection: 
‘‘(a) GROUNDS FOR ISSUANCE.—The Director may 
issue and serve a notice of charges under this section upon 
an enterprise if the Director determines— 
‘‘(1) the enterprise has failed to meet any hous-
ing goal established under subpart B, following a 
written notice and determination of such failure in 
accordance with section 1336; 
‘‘(2) the enterprise has failed to submit a report 
under section 1314, following a notice of such failure, 
an opportunity for comment by the enterprise, and a 
final determination by the Director; 
‘‘(3) the enterprise has failed to submit the infor-
mation required under subsection (m) or (n) of sec-
tion 309 of the Federal National Mortgage Association 
Charter Act, or subsection (e) or (f) of section 307 of 
the Federal Home Loan Mortgage Corporation Act; 
‘‘(4) the enterprise has violated any provision of 
this part or any order, rule or regulation under this 
part; 
‘‘(5) the enterprise has failed to submit a hous-
ing plan that complies with section 1336(c) within 
the applicable period; or
140 
‘‘(6) the enterprise has failed to comply with a 
housing plan under section 1336(c).’’; 
(2) in subsection (b)(2), by striking ‘‘requiring 
the enterprise to’’ and all that follows through the end 
of the paragraph and inserting the following: ‘‘requir-
ing the enterprise to— 
‘‘(A) comply with the goal or goals; 
‘‘(B) submit a report under section 1314; 
‘‘(C) comply with any provision this part 
or any order, rule or regulation under such part; 
‘‘(D) submit a housing plan in compliance 
with section 1336(c); 
‘‘(E) comply with a housing plan submitted 
under section 1336(c); or 
‘‘(F) provide the information required 
under subsection (m) or (n) of section 309 of the 
Federal National Mortgage Association Charter 
Act or subsection (e) or (f) of section 307 of the 
Federal Home Loan Mortgage Corporation Act, 
as applicable.’’; 
(3) in subsection (c), by inserting ‘‘date of the’’ 
before ‘‘service of the order’’; and 
(4) by striking subsection (d). 
(b) AUTHORITY OF DIRECTOR TO ENFORCE NOTICES 
AND ORDERS.—Section 1344 of the Housing and Commu-
141 
nity Development Act of 1992 (12 U.S.C. 4584) is amended 
by striking subsection (a) and inserting the following new 
subsection: 
‘‘(a) ENFORCEMENT.—The Director may, in the dis-
cretion of the Director, apply to the United States District 
Court for the District of Columbia, or the United States 
district court within the jurisdiction of which the head-
quarters of the enterprise is located, for the enforcement of 
any effective and outstanding notice or order issued under 
section 1341 or 1345, or request that the Attorney General 
of the United States bring such an action. Such court shall 
have jurisdiction and power to order and require compli-
ance with such notice or order.’’. 
(c) CIVIL MONEY PENALTIES.—Section 1345 of the 
Housing and Community Development Act of 1992 (12 
U.S.C. 4585) is amended— 
(1) by striking subsections (a) and (b) and in-
serting the following new subsections: 
‘‘(a) AUTHORITY.—The Director may impose a civil 
money penalty, in accordance with the provisions of this 
section, on any enterprise that has failed to— 
‘‘(1) meet any housing goal established under 
subpart B, following a written notice and determina-
tion of such failure in accordance with section 
1336(b);
142 
‘‘(2) submit a report under section 1314, fol-
lowing a notice of such failure, an opportunity for 
comment by the enterprise, and a final determination 
by the Director; 
‘‘(3) submit the information required under sub-
section (m) or (n) of section 309 of the Federal Na-
tional Mortgage Association Charter Act, or sub-
section (e) or (f) of section 307 of the Federal Home 
Loan Mortgage Corporation Act; 
‘‘(4) comply with any provision of this part or 
any order, rule or regulation under this part; 
‘‘(5) submit a housing plan pursuant to section 
1336(c) within the required period; or 
‘‘(6) comply with a housing plan for the enter-
prise under section 1336(c). 
‘‘(b) AMOUNT OF PENALTY.—The amount of the pen-
alty, as determined by the Director, may not exceed— 
‘‘(1) for any failure described in paragraph (1), 
(5), or (6) of subsection (a), $50,000 for each day that 
the failure occurs; and 
‘‘(2) for any failure described in paragraph (2), 
(3), or (4) of subsection (a), $20,000 for each day that 
the failure occurs.’’; 
(2) in subsection (c)— 
(A) in paragraph (1)—