H.R. 491 · 115th Congress
Let the GSEs Pay Us Back Act of 2017
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Never voted on. It didn't reach a floor vote before the 115th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
CapuanoSponsorNo cosponsors.
This bill provides for the repayment of amounts previously borrowed by government-sponsored enterprises (GSEs) from the Department of the Treasury. GSEs are financial services corporations created by Congress and include the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac).
What it does: CRS summary · Introduced in House · Jan 12, 2017
Let the GSEs Pay Us Back Act of 2017
This bill provides for the repayment of amounts previously borrowed by government-sponsored enterprises (GSEs) from the Department of the Treasury. GSEs are financial services corporations created by Congress and include the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac).
Under an existing Preferred Stock Purchase Agreement, net income from the GSEs is directed to Treasury as a dividend but is not counted toward repayment of the GSEs' debt. The bill requires this agreement to be modified such that: (1) the amounts previously borrowed by the GSEs from Treasury shall be treated as a loan, in accordance with specified terms; and (2) payments made under the agreement by the GSEs to Treasury, including payments made prior to the agreement's modification, shall be treated as payments of principal and interest under such loan.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Let the GSEs Pay Us Back Act of 2017
Latest action (Jan 12, 2017): Referred to the House Committee on Financial Services.
Policy area: Finance and Financial Sector · Origin: House · Introduced: Jan 12, 2017
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.