S.Amdt. 805

1. Adds SEC. ___. DEFICIT-NEUTRAL RESERVE FUND TO PREVENT THE SALE OF SENIOR PREFERRED STOCK OF FANNIE MAE AND FREDDIE MAC BY THE SECRETARY OF THE TREASURY WITHOUT THE CONSENT OF CONGRESS wherever appropriate

   Adds a section

   Inserted: SEC. ___. DEFICIT-NEUTRAL RESERVE FUND TO PREVENT THE SALE OF SENIOR PREFERRED STOCK OF FANNIE MAE AND FREDDIE MAC BY THE SECRETARY OF THE TREASURY WITHOUT THE CONSENT OF CONGRESS.

   Inserted: (a) In General.--The Chairman of the Committee on the Budget of the Senate may revise the allocations of a committee or committees, aggregates, and other appropriate levels in this resolution for one or more bills, joint resolutions, amendments, amendments between the Houses, motions, or conference reports relating to Congress determining the resolution of each enterprise, which may include preventing the Secretary of the Treasury from selling, transferring, or otherwise disposing of any outstanding shares acquired pursuant to the Senior Preferred Stock Purchase Agreement without the consent of Congress, by the amounts provided in such legislation for those purposes, provided that such legislation would not increase the deficit over the period of the total of fiscal years 2016 through 2025.

   Inserted: (b) Definitions.--As used in this section--

   Inserted: (1) the term "enterprise" has the same meaning as in section 1303 of the Federal Housing Enterprises Financial Safety and Soundness Act of 1992; and

   Inserted: (2) the term "Senior Preferred Stock Purchase Agreement" means--

   Inserted: (A) the Amended and Restated Senior Preferred Stock Purchase Agreement, dated September 26, 2008, as such Agreement has been amended on May 6, 2009, December 24, 2009, and August 17, 2012, respectively, and as such Agreement may be further amended and restated, entered into between the Department of the Treasury and each enterprise, as applicable; and

   Inserted: (B) any provision of any certificate in connection with such Agreement creating or designating the terms, powers, preferences, privileges, limitations, or any other conditions of the Variable Liquidation Preference Senior Preferred Stock of an enterprise issued or sold pursuant to such Agreement.

   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