S.Amdt. 3801

SA 3801. Mr. HATCH (for himself, Mr. Enzi, and Mr. Brown of
Massachusetts) submitted an amendment intended to be proposed to
amendment SA 3739 proposed by Mr. Reid (for Mr. Dodd (for himself and
Mrs. Lincoln)) to the bill S. 3217, to promote the financial stability
of the United States by improving accountability and transparency in
the financial system, to end ``too big to fail,'' to protect the
American taxpayer by ending bailouts; to protect consumers from abusive
financial services practices, and for other purposes; which was ordered
to lie on the table; as follows:

At the end of title XII, insert the following:

TITLE XIII--TREATMENT OF FANNIE MAE AND FREDDIE MAC

SEC. 1301. PLAN ON REFORMING FANNIE MAE AND FREDDIE MAC.

(a) In General.--Not later than 6 months after the date of
the enactment of this Act, the Secretary of the Treasury, the
Director of the Federal Housing Finance Agency, and the
Secretary of Housing and Urban Development shall propose and
submit to Congress a plan to end the conservatorship of the
Federal National Mortgage Association and the Federal Home
Loan Mortgage Corporation, and to reform such entities.
(b) Requirements.--The plan required under subsection (a)
shall be drafted so as to

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have the least amount of impact as possible on--
(1) the provision of affordable housing to underserved
areas; and
(2) the cost to the taxpayer.
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