HR 1224 · 112th Congress 2011–2013, ended

GSE Portfolio Risk Reduction Act of 2011

Introduced Mar 29, 2011 Originated House Sponsor Jeb Hensarling R-TX

Latest action · Apr 6, 2011 Forwarded by Subcommittee to Full Committee (Amended) by the Yeas and Nays: 20 - 14 .

Progress

Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.

IntroducedMar 29, 2011
Passed HouseNot reached
Passed SenateNot reached
To the PresidentNot reached
Became lawNot reached

Summary

GSE Portfolio Risk Reduction Act of 2011 - Amends the Housing and Community Development Act of 1992 to prohibit the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) (government-sponsored enterprises or GSEs) from owning mortgage assets in excess of: (1) $700 billion one year after enactment of this Act; (2) $600 billion two years after enactment of this Act; (3) $475 billion three years after enactment of this Act; (4) $350 billion four years after enactment of this Act; and (5) $250 billion five years after enactment of this Act.

Cosponsors 5

Members who signed on, in the order they did. Signatures ran from Mar 29, 2011 to Jun 2, 2011; 3 are original cosponsors, there from the day it was introduced.

Seat	Cosponsor		Signed on
R-NJ	Scott Garrett	Original	Mar 29, 2011
R-AL	Spencer Bachus	Original	Mar 29, 2011
R-NM	Stevan Pearce	Original	Mar 29, 2011
R-WV	Shelley Moore Capito		Apr 5, 2011
R-TX	Francisco "Quico" Canseco		Jun 2, 2011

Committees 1

Where it was sent and what each committee and subcommittee did with it, in order.

Chamber	Committee	What it did
House	Financial Services Committee	Referred Mar 29, 2011
	Capital Markets Subcommittee	Hearings Mar 31, 2011Referred Apr 4, 2011Markup Apr 6, 2011Reported Apr 6, 2011

Actions 7

Everything that happened, newest first.

Apr 6, 2011Subcommittee Consideration and Mark-up Session Held.
Apr 6, 2011Forwarded by Subcommittee to Full Committee (Amended) by the Yeas and Nays: 20 - 14 .
Apr 5, 2011Subcommittee Consideration and Mark-up Session Held.
Apr 4, 2011Referred to the Subcommittee on Capital Markets and Government Sponsored Enterprises.
Mar 31, 2011Hearings Held by the Subcommittee on Capital Markets and Government Sponsored Enterprises Prior to Referral.
Mar 29, 2011Introduced in House
Mar 29, 2011Referred to the House Committee on Financial Services.

Research

What has been written about this bill: committee reports, cost estimates, the sponsor’s authority statement, printed hearings and the Congressional Research Service’s work.

Constitutional authority

Congress has the power to enact this legislation pursuant to the following: Under Article I, Section 8, Clauses 1 (``The Congress shall have Power To lay and collect Taxes, Duties, Imposts and Excises, to pay the Debts and provide for the common Defense and general Welfare of the United States; but all Duties, Imposts and Excises shall be uniform throughout the United States''), 3 (``To regulate Commerce with foreign Nations, and among the several States, and with the Indian Tribes''), and 18 (``To make all Laws which shall be necessary and proper for carrying into Execution the foregoing Powers, and all other Powers vested by this Constitution in the Government of the United States, or in any Department or Officer thereof'').

The sponsor’s statement, as printed in the page H2038.

CRS reports 1

Congressional Research Service work that CRS links to this bill or the law it became, newest first.

Cite it 1

Products on other subjects that cite it, usually among other measures.

Product	Title	Kind	Published
R41822	Proposals to Reform Fannie Mae and Freddie Mac in the 112th Congress Archived	Report	Nov 30, 2011

Related bills 4

Companion bills and other measures the record links to this one.

Bill	Title	Relationship	Latest action
S 178	Spending Reduction Act of 2011	Related bill	Jan 25, 2011
HR 408	Spending Reduction Act of 2011	Related bill	Mar 23, 2011
S 693	GSE Bailout Elimination and Taxpayer Protection Act	Related bill	Mar 31, 2011
HR 1182	GSE Bailout Elimination and Taxpayer Protection Act	Related bill	Apr 4, 2011

Titles 2

Every title it has carried, official and short, at each stage.

Official Title as Introduced: To increase the rate of the required annual reductions of the retained portfolios of Fannie Mae and Freddie Mac.
Short Titles as Introduced: GSE Portfolio Risk Reduction Act of 2011

Subjects

Assigned by the Library of Congress. Policy area: Housing and Community Development.

Text 1

Each version as it was printed, newest first.

Mar 29, 2011Introduced in House

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Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.