Fulfilling the Promise of the Housing Trust Fund Act

[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[H.R. 5599 Introduced in House (IH)]

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116th CONGRESS
  2d Session
                                H. R. 5599

 To amend the Housing and Community Development Act of 1992 to require 
the deposit of enterprise guarantee fees in the Housing Trust Fund, and 
                          for other purposes.


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                    IN THE HOUSE OF REPRESENTATIVES

                            January 14, 2020

 Mr. Heck (for himself, Mr. Clay, Mr. Blumenauer, and Mr. Perlmutter) 
 introduced the following bill; which was referred to the Committee on 
                           Financial Services

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                                 A BILL


 
 To amend the Housing and Community Development Act of 1992 to require 
the deposit of enterprise guarantee fees in the Housing Trust Fund, and 
                          for other purposes.

    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 ``Fulfilling the Promise of the 
Housing Trust Fund Act''.

SEC. 2. DEPOSIT OF FEES.

    Section 1327 of the Housing and Community Development Act of 1992 
(12 U.S.C. 4547) is amended--
            (1) in subsection (b)--
                    (A) in paragraph (3)--
                            (i) by striking ``Amounts received'' and 
                        inserting the following: ``With regard to a 
                        mortgage-backed security guaranteed by the 
                        Federal National Mortgage Association before 
                        October 1, 2021, or a participation certificate 
                        guaranteed by the Federal Home Loan Mortgage 
                        Corporation before October 1, 2021,''; and
                            (ii) by striking ``The fees'' and inserting 
                        the following:
            ``(5) Treatment of fees.--The fees''; and
                    (B) by inserting before paragraph (5), as 
                designated by paragraph (1)(B), the following:
            ``(4) Deposit in housing trust fund.--With regard to a 
        mortgage-backed security guaranteed by the Federal National 
        Mortgage Association on or after October 1, 2021, or a 
        participation certificate guaranteed by the Federal Home Loan 
        Mortgage Corporation on or after October 1, 2021, amounts 
        received from fee increases imposed under this section shall be 
        deposited directly into the Housing Trust Fund established 
        under section 1338, and shall be available without further 
        appropriation.''; and
            (2) by striking subsection (f).
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