Page:United States Statutes at Large Volume 122.djvu/2734

 12 2 STA T . 2 7 11 PUBLIC LA W 11 0– 2 89—J UL Y3 0, 2008 andsuchot h er re li e f as m a yb ea v ailable .T he monetary j ud g ment may , in the court ’ s discretion, include the attorneys’ fees and other e xp enses incurred by the U nited S tates in connection w ith the action. I n an action under this subsection, the validity and appro - priateness of the order imposing the penalty shall not be subject to review. ‘ ‘ ( e ) S ET T L E M E N T BYDIR E C T O R. — The Director may compromise, modify, or remit any civil money penalty which may be, or has been, imposed under this section. ‘‘(f) DE P O S ITO FP EN A LTIES.—The Director shall use any civil money penalties collected under this section to help fund the H ousing Trust F und established under section 13 3 8 .’’. (e) DIRECTOR AU T H ORITY.— (1) AUTHORITY TO BRIN G ACI V IL ACTION.—Section 13 4 4(a) of the Federal Housing E nterprises Financial Safety and Sound- ness Act of 1 9 9 2 (12 U.S. C . 4 5 84) is amended by stri k ing ‘‘The Secretary may re q uest the Attorney G eneral of the United States to bring a civil action’’ and inserting ‘‘The Director may bring a civil action’’. (2) SUBPOENA ENFORCEMENT.—Section 1348(c) of the Fed- eral Housing Enterprises Financial Safety and Soundness Act of 1992 (12 U.S.C. 4588(c)) is amended by inserting ‘‘may bring an action or’’ before ‘‘may request’’. (3) CONFORMING AMEN D MENTS.—Subpart C of part 2 of subtitle A of the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 (12 U.S.C. 4581 et seq.) is amended by striking ‘‘Secretary’’ each place that term appears and inserting ‘‘Director’’ in each of— (A) section 1342 (12 U.S.C. 4582) ( B ) section 1343 (12 U.S.C. 4583); (C) section 134 6 (12 U.S.C. 4586); (D) section 134 7 (12 U.S.C. 4587); and (E) section 1348 (12 U.S.C. 4588). SEC.1 1 3 1. AF F ORD A BL E H O U S INGP ROGRA M S. (a) R EPEAL.—Section 1337 of the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 (12 U.S.C. 4567) is hereby repealed. (b) ANNUAL HOUSING REPORT.—The Federal Housing Enter- prises Financial Safety and Soundness Act of 1992 (12 U.S.C. 13 0 1 et seq.) is amended by inserting after section 1336 the following

‘SEC. 133 7 . AFFORDABLE HOUSING ALLOCA T IONS. ‘‘(a) SET ASIDE AND ALLOCATION OF AMOUNTS BY ENTER- PRISES.—Subject to subsection (b), in each fiscal year— ‘‘(1) the Federal Home L oan M ortgage Corporation shall— ‘‘(A) set aside an amount equal to 4.2 basis points for each dollar of the unpaid principal balance of its total new business purchases; and ‘‘(B) allocate or otherwise transfer— ‘‘(i) 65 percent of such amounts to the Secretary of Housing and Urban Development to fund the Housing Trust Fund established under section 1338; and ‘‘(ii) 35 percent of such amounts to fund the Capital Magnet Fund established pursuant to section 1339; and ‘‘(2) the Federal N ational Mortgage Association shall— 12USC4567.

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