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S.Amdt. 2651Senate109th Congress (2005-2007)

To repeal State and local taxation exemptions applicable to the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation.

What it does: Adds SEC. __. REPEAL OF STATE AND LOCAL TAX EXEMPTION FOR FANNIE MAE AND FREDDIE MAC wherever appropriate
Sponsored by John E. SununuSen. John E. Sununu (R-NH)
Submitted November 17, 2005

What it changes

1 change to S. 2020

Adds a section
Proposed · Nov 17, 2005Submitted · Nov 17, 2005

  1. Adds SEC. __. REPEAL OF STATE AND LOCAL TAX EXEMPTION FOR FANNIE MAE AND FREDDIE MAC wherever appropriate

    Adds a section

    Inserted: SEC. __. REPEAL OF STATE AND LOCAL TAX EXEMPTION FOR FANNIE MAE AND FREDDIE MAC.

    Inserted: (a) Fannie Mae.--Section 309(c) of the Federal National Mortgage Association Charter Act (12 U.S.C. 1723a(c)) is amended to read as follows:

    Inserted: "(c) [Repealed.]".

    Inserted: (b) Freddie Mac.--Section 303(e) of the Federal Home Loan Mortgage Corporation Act (12 U.S.C. 1452(e)) is amended to read as follows:

    Inserted: "(e) [Repealed.]".

    The amendment doesn't say where this goes; the clerk decides.

    Original wording

    At the appropriate place, insert the following:

Read automatically from the Congressional Record. Check the original before relying on it.

As printed

SA 2651. Mr. SUNUNU proposed an amendment to the bill S. 2020, to provide for reconciliation pursuant to section 202(b) of the concurrent resolution on the budget for fiscal year 2006; as follows:

At the appropriate place, insert the following:

SEC. __. REPEAL OF STATE AND LOCAL TAX EXEMPTION FOR FANNIE MAE AND FREDDIE MAC.

(a) Fannie Mae.--Section 309(c) of the Federal National Mortgage Association Charter Act (12 U.S.C. 1723a(c)) is amended to read as follows:

“(c) [Repealed.]”.

(b) Freddie Mac.--Section 303(e) of the Federal Home Loan Mortgage Corporation Act (12 U.S.C. 1452(e)) is amended to read as follows:

“(e) [Repealed.]”.

Congressional RecordPDF

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Senate amendment submitted

November 17, 2005

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Floor

Senate amendment submitted

November 17, 2005

Floor

Senate amendment proposed (on the floor): Amendment SA 2651 proposed by Senator Sununu.

November 17, 2005

Floor

Amendment SA 2651 proposed by Senator Sununu. (consideration: CR S13116, S13127; text: CR S13116) To repeal State and local taxation exemptions applicable to the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation.

November 17, 2005

Floor

Point of order raised in Senate with respect to amendment SA 2651.

November 17, 2005

Floor

Amendment SA 2651 ruled out of order by the chair.

November 17, 2005