There is one summary for this bill. Bill summaries are authored by CRS.

Shown Here:
Introduced in Senate (09/11/2008)

Prohibits the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) and their affiliates from making: (1) lobbying expenditures; (2) political contributions; or (3) contributions to any nonprofit tax-exempt organization.

Declares that violating this Act shall constitute violation of federal law limiting the use of appropriated funds to influence certain federal contracting and financial transactions (thus, imposing the same penalties).