Title: Homebuyer Protection Act of 2019
Policy area: Economics and Public Finance

Summary:
Homebuyer Protection Act of 2019
This bill prohibits the chairs of the congressional budget committees from counting increases to guarantee fees as offsets for budget enforcement purposes. The bill includes an exception for legislation that increases guarantee fees to finance reforms to the secondary mortgage market.
(Guarantee fees are charged by enterprises, such as the Federal National Mortgage Association [Fannie Mae] and the Federal Home Loan Mortgage Corporation [Freddie Mac], to guarantee the payment of principal and interest on loans. This bill prevents the fees from being used to offset provisions that increase the deficit in determining whether a budget point of order applies to legislation.)

[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[H.R. 5055 Introduced in House (IH)]

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116th CONGRESS
  1st Session
                                H. R. 5055

 To amend the Congressional Budget and Impoundment Control Act of 1974 
           to prohibit the use of guarantee fees as offsets.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                           November 12, 2019

Mr. Sherman (for himself and Mr. Zeldin) introduced the following bill; 
 which was referred to the Committee on Rules, 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 jurisdiction of the committee concerned

_______________________________________________________________________

                                 A BILL


 
 To amend the Congressional Budget and Impoundment Control Act of 1974 
           to prohibit the use of guarantee fees as offsets.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Homebuyer Protection Act of 2019''.

SEC. 2. PROHIBITING THE USE OF GUARANTEE FEES AS OFFSETS.

    (a) In General.--Title III of the Congressional Budget Act of 1974 
is amended by adding at the end the following new section:

           ``prohibiting the use of guarantee fees as offsets

    ``Sec. 316.  (a) In the Senate or the House of Representatives, if 
a bill, resolution, amendment, motion, or conference report includes a 
provision that increases, or extends the increase of, the guarantee 
fees of an enterprise, the chair of the Committee on the Budget of the 
applicable House shall not count the budgetary effects of such 
provision for purposes of title III and title IV of the Congressional 
Budget and Impoundment Act of 1974, the Rules of the House of 
Representatives, and applicable provisions of concurrent resolutions on 
the budget.
    ``(b) The evaluation under subsection (a) shall not apply to any 
legislation that provides for an increase, or extension of an increase, 
of any guarantee fee of an enterprise to be used for the purpose of 
financing reforms to the secondary mortgage market.''.
    (b) Conforming Amendment.--The table of contents set forth in 
section 1(b) of the Congressional Budget and Impoundment Control Act of 
1974 is amended by inserting after the item relating to section 315 the 
following new item:

``Sec. 316. Prohibiting the use of guarantee fees as offsets.''.
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