Emergency Mortgage Relief Program Termination Act - Rescinds and permanently cancels all unobligated funding remaining available under the Dodd-Frank Wall Street Reform and Consumer Protection Act for the Emergency Mortgage Relief Program. Terminates the program.
Requires all such unobligated balances so rescinded and permanently canceled to be retained in the general fund of the Treasury for reducing the debt of the federal government.
Directs the Secretary of Housing and Urban Development (HUD) to study: (1) the extent to which the Emergency Mortgage Relief Program is used by homeowners who are active duty members of the Armed Forces (or their spouses or parents), veterans, or Gold Star-eligible widows, parents, or next of kin of Armed Forces members who died in military operations or members or veterans with service-connected injuries (and their survivors and dependents); and (2) the impact of the program on such homeowners.
[Congressional Bills 112th Congress]
[From the U.S. Government Publishing Office]
[H.R. 836 Introduced in House (IH)]
112th CONGRESS
1st Session
H. R. 836
To rescind the unobligated funding for the Emergency Mortgage Relief
Program and to terminate the program.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
February 28, 2011
Mr. Hensarling (for himself, Mr. Bachus, and Mrs. Biggert) introduced
the following bill; which was referred to the Committee on Financial
Services
_______________________________________________________________________
A BILL
To rescind the unobligated funding for the Emergency Mortgage Relief
Program and to terminate the program.
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 ``Emergency Mortgage Relief Program
Termination Act''.
SEC. 2. RESCISSION OF FUNDING FOR EMERGENCY MORTGAGE RELIEF PROGRAM.
Effective on the date of the enactment of this Act, there are
rescinded and permanently canceled all unobligated balances remaining
available as of such date of enactment of the amounts made available by
section 1496(a) of the Dodd-Frank Wall Street Reform and Consumer
Protection Act (Public Law 111-203; 124 Stat. 2207; 12 U.S.C. 2706
note).
SEC. 3. TERMINATION OF EMERGENCY MORTGAGE RELIEF PROGRAM.
(a) Repeal.--Title I of the Emergency Housing Act of 1975 (12
U.S.C. 2701 et seq.), as amended by section 1496(b) of the Dodd-Frank
Wall Street Reform and Consumer Protection Act, is hereby repealed.
(b) Treatment of Remaining Funds.--Notwithstanding the repeal under
subsection (a) of this section, any amounts made available under the
provision specified in section 2 of this Act and obligated before the
date of the enactment of this Act shall continue to be governed by the
provisions of law specified in subsection (a) of this section, as in
effect immediately before such repeal.
(c) Termination.--Upon the completion of outlays to liquidate all
amounts referred to in subsection (b) of this section and the
completion of all activities with respect to such amounts under the
provisions of law specified in subsection (a) of this section, the
Secretary of Housing and Urban Development shall terminate the
Emergency Mortgage Relief Program authorized under the provisions
specified in subsection (a).
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The Speaker designated the Honorable Lynn A. Westmoreland to act as Chairman of the Committee.
GENERAL DEBATE - The Committee of the Whole proceeded with one hour of general debate on H.R. 836.
DEBATE - Pursuant to the provisions of H.Res. 151, the Committee of the Whole proceeded with debate on the Canseco amendment number 5 under the five-minute rule.
DEBATE - Pursuant to the provisions of H.Res. 151, the Committee of the Whole proceeded with debate on the Neugebauer amendment number 3 under the five-minute rule.
DEBATE - Pursuant to the provisions of H.Res. 151, the Committee of the Whole proceeded with debate on the Waters amendment number 4 under the five-minute rule.
POSTPONED PROCEEDINGS - At the conclusion of debate on the Waters amendment, the Chair put the question on adoption of the amendment and by voice vote, announced the noes had prevailed. Ms. Waters demanded a recorded vote and the Chair postponed further proceedings on the question of adoption of the amendment until a time to be announced.
DEBATE - Pursuant to the provisions of H.Res. 151, the Committee of the Whole proceeded with debate on the Loretta Sanchez amendment number 7 under the five-minute rule, pending the reservation of a point of order.
UNFINISHED BUSINESS - The Chair announced that the unfinished business was on the question of adoption of amendments which had been debated earlier and on which further proceedings were postponed.
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The House rose from the Committee of the Whole House on the state of the Union to report H.R. 836.
The previous question was ordered pursuant to the rule. (consideration: CR H1748)
The House adopted the amendment in the nature of a substitute as agreed to by the Committee of the Whole House on the state of the Union.
Mr. Connolly (VA) moved to recommit with instructions to Financial Services. (consideration: CR H1748-1750; text: CR H1748)
DEBATE - The House proceeded with 10 minutes of debate on the motion to recommit with instructions. The instructions contained in the motion seek to require the bill to be reported back to the House with amendments which provide a continuation of the provisions of the program for military veteran homeowners.
The previous question on the motion to recommit with instructions was ordered without objection. (consideration: CR H1749)
On motion to recommit with instructions Failed by recorded vote: 182 - 238 (Roll no. 173). (consideration: CR H1750)
Roll Call #173 (House)Passed/agreed to in House: On passage Passed by recorded vote: 242 - 177 (Roll no. 174).
Roll Call #174 (House)On passage Passed by recorded vote: 242 - 177 (Roll no. 174).
Roll Call #174 (House)Motion to reconsider laid on the table Agreed to without objection.
The Clerk was authorized to correct section numbers, punctuation, and cross references, and to make other necessary technical and conforming corrections in the engrossment of H.R. 830.
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.