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House Bill 5599
116th Congress(2019-2020)
Fulfilling the Promise of the Housing Trust Fund Act
Introduced
Introduced
Introduced in House on Jan 14, 2020
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Introduced in House 
Jan 14, 2020
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Introduced in House(Jan 14, 2020)
Jan 14, 2020
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Multiple bills can contain the same text. This could be an identical bill in the opposite chamber or a smaller bill with a section embedded in a larger bill.
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H. R. 5599 (Introduced-in-House)


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.

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

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).