H.R. 3071 · 108th Congress
Free Housing Market Enhancement Act
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Never voted on. It didn't reach a floor vote before the 108th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
PaulSponsorNo cosponsors.
Free Housing Market Enhancement Act - Prohibits providing Federal funds to the Federal National Mortgage Association (Fannie Mae), the Federal Home Loan Mortgage Corporation (Freddie Mac), or any Federal Home Loan bank (Such entities are referred to as government sponsored enterprises, or GSEs.)
What it does: CRS summary · Introduced in House · Sep 10, 2003
Free Housing Market Enhancement Act - Prohibits providing Federal funds to the Federal National Mortgage Association (Fannie Mae), the Federal Home Loan Mortgage Corporation (Freddie Mac), or any Federal Home Loan bank (Such entities are referred to as government sponsored enterprises, or GSEs.)
Amends the Federal National Mortgage Association Charter Act ( Fannie Mae) and the Federal Home Loan Mortgage Corporation Act (Freddie Mac) to repeal: (1) the State tax exemption; (2) the requirement that the Treasury approve debt issues; (3) Treasury authority to purchase Fannie Mae/Freddie Mac obligations; (4) depositary authority; and (5) the designation of obligations as lawful investments.
Amends the Federal Home Loan Bank Act to repeal: (1) the State tax exemption; (2) Treasury authority to purchase bank obligations; (3) depositary authority; and (4) the designation of obligations as lawful investments.
Amends the Federal Reserve Act to prohibit Federal Reserve purchase of GSE debt.
Repeals the eligibility of GSE obligations for unlimited investment by national banks, federally chartered thrifts, and credit unions.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Free Housing Market Enhancement Act
Latest action (Oct 3, 2003): Referred to the Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises.
Policy area: Housing and Community Development · Origin: House · Introduced: Sep 10, 2003
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.