H.R. 5126 (107th): Free Housing Market Enhancement Act

Introduced:
Jul 15, 2002 (107th Congress, 2001–2002)
Status:
Died (Referred to Committee)
Sponsor
Ronald “Ron” Paul
Representative for Texas's 14th congressional district
Party
Republican
Text
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Last Updated
Jul 15, 2002
Length
10 pages
Related Bills
H.R. 3071 (108th) was a re-introduction of this bill in a later Congress.

Referred to Committee
Last Action: Sep 10, 2003

 
Status

This bill was introduced on July 15, 2002, in a previous session of Congress, but was not enacted.

Progress
Introduced Jul 15, 2002
Referred to Committee Jul 15, 2002
 
Full Title

To prohibit the provision of Federal funds to the housing-related government-sponsored enterprises and to remove certain competitive advantages granted under law to such enterprises.

Summary

No summaries available.

Cosponsors
none
Committees

House Financial Services

Capital Markets and Government Sponsored Enterprises

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

 
Primary Source

THOMAS.gov (The Library of Congress)

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Notes

H.R. stands for House of Representatives bill.

A bill must be passed by both the House and Senate in identical form and then be signed by the president to become law.

The bill’s title was written by its sponsor.

GovTrack’s Bill Summary

We don’t have a summary available yet.

Library of Congress Summary

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


7/15/2002--Introduced.
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.

House Republican Conference Summary

The summary below was written by the House Republican Conference, which is the caucus of Republicans in the House of Representatives.


No summary available.

House Democratic Caucus Summary

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