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H.R. 4266IntroducedHouse · nowSenatePresidentLawIn committee
Sec. 2 · H.R. 4266

Amounts received from release of Federal National Mortgage Association and Federal Home Loan Mortgage Corporation

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(a) In general Notwithstanding any other provision of law, any amounts received by the Federal Government as a result of the release of the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation shall be transferred to a trust fund to be used solely for the purpose described in section 3 for a period of 10 years after the date of such transfer. (b) Deficit reduction On the date that is 10 years after the transfer described in subsection (a), the capitalization loans described in section 3 shall be paid back by the States to the General Fund of the Treasury, dedicated for the sole purpose of deficit reduction.