S.Amdt. 2396

SA 2396. Ms. WARREN (for herself and Ms. Hirono) submitted an
amendment intended to be proposed by her to the bill H.R. 1, to provide
for reconciliation pursuant to title II of H. Con. Res. 14; which was
ordered to lie on the table; as follows:

At the appropriate place, insert the following:

SEC. ___. PROHIBITION.

(a) In General.--The Department of the Treasury shall not
sell in whole or in part its share of senior preferred stocks
in Fannie Mae or Freddie Mac until--
(1) the Comptroller General--
(A) completes a study on the impact that ending
conservatorship or the end of an explicit government
guarantee of Fannie Mae and Freddie Mac would have on the
cost of mortgage lending, homeownership, and multifamily
housing development; and
(B) presents the findings of such study to Congress;
(2) the President issues a public plan; and
(3) the Director of the Federal Housing Finance Agency and
the 4 members of the Federal Housing Finance Oversight Board
established under section 1313A of the Federal Housing
Enterprises Financial Safety and Soundness Act of 1992 (12
U.S.C. 4513a) testify on the plan required in paragraph (2)
before the Committee on Banking, Housing, and Urban Affairs
of the Senate and the Committee on Financial Services of the
House of Representatives.
(b) Rule of Construction.--Nothing in this section may be
construed to authorize the Department of the Treasury to sell
in whole or in part its share of senior preferred stocks in
Fannie Mae or Freddie Mac.
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