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I
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 Fi-
nancial 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 Representa-
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tives of the United States of America in Congress assembled,
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SECTION 1. SHORT TITLE.
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This Act may be cited as the ‘‘Fulfilling the Promise
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of the Housing Trust Fund Act’’.
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SEC. 2. DEPOSIT OF FEES.
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Section 1327 of the Housing and Community Devel-
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opment Act of 1992 (12 U.S.C. 4547) is amended—
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(1) in subsection (b)—
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•HR 5599 IH
(A) in paragraph (3)—
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(i) by striking ‘‘Amounts received’’
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and inserting the following: ‘‘With regard
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to a mortgage-backed security guaranteed
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by the Federal National Mortgage Associa-
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tion before October 1, 2021, or a participa-
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tion certificate guaranteed by the Federal
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Home Loan Mortgage Corporation before
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October 1, 2021,’’; and
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(ii) by striking ‘‘The fees’’ and insert-
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ing the following:
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‘‘(5) TREATMENT OF FEES.—The fees’’; and
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(B) by inserting before paragraph (5), as
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designated by paragraph (1)(B), the following:
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‘‘(4) DEPOSIT IN HOUSING TRUST FUND.—With
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regard to a mortgage-backed security guaranteed by
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the Federal National Mortgage Association on or
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after October 1, 2021, or a participation certificate
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guaranteed by the Federal Home Loan Mortgage
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Corporation on or after October 1, 2021, amounts
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received from fee increases imposed under this sec-
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tion shall be deposited directly into the Housing
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Trust Fund established under section 1338, and
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shall be available without further appropriation.’’;
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and
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(2) by striking subsection (f).
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