Section 1 Short title
This Act may be cited as the “Homebuyer Protection Act of 2019”.
Homebuyer Protection Act of 2019
A BILL
To amend the Congressional Budget and Impoundment Control Act of 1974 to prohibit the use of guarantee fees as offsets.
Sec. 2 Prohibiting the use of guarantee fees as offsets
In general— Title III of the Congressional Budget Act of 1974 is amended by adding at the end the following new section:
“316. Prohibiting the use of guarantee fees as offsets
“(a) In the Senate or the House of Representatives, if a bill, resolution, amendment, motion, or conference report includes a provision that increases, or extends the increase of, the guarantee fees of an enterprise, the chair of the Committee on the Budget of the applicable House shall not count the budgetary effects of such provision for purposes of title III and title IV of the Congressional Budget and Impoundment Act of 1974, the Rules of the House of Representatives, and applicable provisions of concurrent resolutions on the budget.
“(b) The evaluation under subsection (a) shall not apply to any legislation that provides for an increase, or extension of an increase, of any guarantee fee of an enterprise to be used for the purpose of financing reforms to the secondary mortgage market.”
Conforming amendment— The table of contents set forth in section 1(b) of the Congressional Budget and Impoundment Control Act of 1974 is amended by inserting after the item relating to section 315 the following new item: