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Title II — Budgetary treatment

H.R. 1872 · 113th Congress · Apr 8, 2014 · Lineage

II Budgetary treatment

Sec. 201 CBO and OMB studies respecting budgeting for costs of Federal insurance programs

Not later than 1 year after the date of enactment of this Act, the Directors of the Congressional Budget Office and of the Office of Management and Budget shall each prepare a study and make recommendations to the Committees on the Budget of the House of Representatives and the Senate as to the feasability of applying fair value concepts to budgeting for the costs of Federal insurance programs.

Sec. 202 On-budget status of Fannie Mae and Freddie Mac

Notwithstanding any other provision of law, the receipts and disbursements, including the administrative expenses, of the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation shall be counted as new budget authority, outlays, receipts, or deficit or surplus for purposes of—
(1)
the budget of the United States Government as submitted by the President;
(2)
the congressional budget; and
(3)
the Balanced Budget and Emergency Deficit Control Act of 1985.

Sec. 203 Effective date

Section 202 shall not apply with respect to an enterprise (as such term is defined in section 1303 of the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 (12 U.S.C. 4502)) after the date that all of the following have occurred:
(1)
The conservatorship for such enterprise under section 1367 of such Act (12 U.S.C. 4617) has been terminated.
(2)
The Director of the Federal Housing Finance Agency has certified in writing that such enterprise has repaid to the Federal Government the maximum amount consistent with minimizing total cost to the Federal Government of the financial assistance provided to the enterprise by the Federal Government pursuant to the amendments made by section 1117 of the Housing and Economic Recovery Act of 2008 (Public Law 110–289; 122 Stat. 2683) or otherwise.
(3)
The charter for the enterprise has been revoked, annulled, or terminated and the authorizing statute (as such term is defined in such section 1303) with respect to the enterprise has been repealed.