H.R.6955 - Taxpayer Reimbursement Act of 2008110th Congress (2007-2008)
|Sponsor:||Rep. Barrett, J. Gresham [R-SC-3] (Introduced 09/18/2008)|
|Committees:||House - Financial Services|
|Latest Action:||09/18/2008 Referred to the House Committee on Financial Services.|
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Subject — Policy Area:
- Housing and Community Development
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Summary: H.R.6955 — 110th Congress (2007-2008)All Bill Information (Except Text)
Introduced in House (09/18/2008)
Taxpayer Reimbursement Act of 2008 - Amends the Federal Housing Enterprises Financial Safety and Soundness Act of 1992, as amended by the Federal Housing Finance Regulatory Reform Act of 2008, to require the Director of the Federal Housing Finance Agency to suspend temporarily any allocations by the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac) upon: (1) the appointment of a conservator or receiver, and for the duration of a conservatorship or receivership; or (2) a finding that the federal government has not been fully reimbursed for the costs of such a conservatorship.
Repeals the reduced percentages for calendar years 2010 and 2011 to require the use of 100% of certain Fannie Mae and Freddie Mac allocations to reimburse the Treasury for payments on bonds of the HOPE for Homeowners Program for calendar 2009-2001.
Suspends the annual goals and duties established for Fannie Mae or Freddie Mac during any period it is in conservatorship or receivership.