S.Amdt. 3300
What it does: Adds Sec. __. None of the funds made available under this Act may be used by the Federal Housing Administration, the Government National Mortgage Association, or the Department of Housing and Urban Development to insure, securitize, or guarantee-- wherever appropriate
Sen. Patrick J. Toomey (R-PA)What it changes
1 change to H.R. 4660
Adds Sec. __. None of the funds made available under this Act may be used by the Federal Housing Administration, the Government National Mortgage Association, or the Department of Housing and Urban Development to insure, securitize, or guarantee-- wherever appropriate
Adds a sectionInserted: Sec. __. None of the funds made available under this Act may be used by the Federal Housing Administration, the Government National Mortgage Association, or the Department of Housing and Urban Development to insure, securitize, or guarantee--
Inserted: (1) any mortgage that refinances or otherwise replaces a mortgage that a State, municipality, or any other political subdivision of a State seized, took, or otherwise obtained by the exercise of the power of eminent domain; or
Inserted: (2) any mortgage-backed security collateralized by a mortgage or pool of mortgages described under paragraph (1).
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 3300. Mr. TOOMEY (for himself and Mr. Boozman) submitted an amendment intended to be proposed by him to the bill H.R. 4660, making appropriations for the Departments of Commerce and Justice, Science, and Related Agencies for the fiscal year ending September 30, 2015, and for other purposes; which was ordered to lie on the table; as follows:
At the appropriate place, insert the following:
Sec. __. None of the funds made available under this Act may be used by the Federal Housing Administration, the Government National Mortgage Association, or the Department of Housing and Urban Development to insure, securitize, or guarantee--
(1) any mortgage that refinances or otherwise replaces a mortgage that a State, municipality, or any other political subdivision of a State seized, took, or otherwise obtained by the exercise of the power of eminent domain; or
(2) any mortgage-backed security collateralized by a mortgage or pool of mortgages described under paragraph (1).
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Senate amendment submitted
June 19, 2014