H.R. 1028: End Unnecessary Borrowing Act of 2013

Introduced:
Mar 07, 2013 (113th Congress, 2013–2015)
Sponsor:
Rep. Michael Capuano [D-MA7]
Status:
Referred to Committee

The bill’s title was written by the bill’s sponsor. H.R. stands for House of Representatives bill.

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Status

This bill was assigned to a congressional committee on March 7, 2013, which will consider it before possibly sending it on to the House or Senate as a whole.

Progress
Introduced Mar 07, 2013
Referred to Committee Mar 07, 2013
Reported by Committee ...
Passed House ...
Passed Senate ...
Signed by the President ...
Prognosis

3% chance of getting past committee.
0% chance of being enacted.

Only 11% of House bills made it past committee and only 3% were enacted in 2011–2013. [show factors | methodology]

Cosponsors
3 cosponsors (3D) (show)
Committees

House Financial Services

The committee chair determines whether a bill will move past the committee stage.

Full Title

To ensure that any authority of the Mutual Mortgage Insurance Fund to borrow amounts from the Treasury is used only to pay mortgage insurance claims.

Summary

No summaries available.

Text

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Last updated Mar 07, 2013.
2 pages

Primary Source

View on THOMAS (The Library of Congress)

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GovTrack’s Bill Summary

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Library of Congress Summary

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.

3/7/2013--Introduced.
End Unnecessary Borrowing Act of 2013 - Amends the National Housing Act with respect to the requirement that the Secretary of Housing and Urban Development (HUD) endeavor to ensure that the Mutual Mortgage Insurance Fund attains a capital ratio of not less than 2% within 10 years after enactment of that requirement (November 5, 1990) and to ensure that the Fund maintains at least that capital ratio at all times thereafter.
Prohibits these requirements from being construed to authorize or require the Secretary to borrow any amounts to comply with the capital ratio requirement.
Limits the use of any authority of the Secretary to borrow from the Treasury for the Mutual Mortgage Insurance Fund only to the extent necessary to pay claims on mortgage insurance that is an obligation of such Fund.

House Republican Conference Summary

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No summary available.

House Democratic Caucus Summary

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The bill contains the following citations to other parts of U.S. law:

United States Code

The United States Code is the compilation of permanent laws enacted by Congress. Temporary and other non-permanent laws do not appear in the United States Code. (About half of the United States Code is the law itself, called positive law. The other half is merely a compilation of the laws but has no legal significance.)