Page:United States Statutes at Large Volume 124.djvu/2160

 124 STAT. 2134 PUBLIC LAW 111–203—JULY 21, 2010 SEC. 1304. AMENDMENTS TO HOUSING AND ECONOMIC RECOVERY ACT OF 2008. (a) SALE OF FANNIE MAE OBLIGATIONS AND SECURITIES BY THE TREASURY; DEFICIT REDUCTION.—Section 304(g)(2) of the Fed- eral National Mortgage Association Charter Act (12 U.S.C. 1719(g)(2)) is amended— (1) by redesignating subparagraph (C) as subparagraph (D); and (2) by inserting after subparagraph (B) the following: ‘‘(C) DEFICIT REDUCTION.—The Secretary of the Treasury shall deposit in the General Fund of the Treasury any amounts received by the Secretary from the sale of any obligation acquired by the Secretary under this sub- section, where such amounts shall be— ‘‘(i) dedicated for the sole purpose of deficit reduc- tion; and ‘‘(ii) prohibited from use as an offset for other spending increases or revenue reductions.’’. (b) SALE OF FREDDIE MAC OBLIGATIONS AND SECURITIES BY THE TREASURY; DEFICIT REDUCTION.—Section 306(l)(2) of the Fed- eral Home Loan Mortgage Corporation Act (12 U.S.C. 1455(l)(2)) is amended— (1) by redesignating subparagraph (C) as subparagraph (D); and (2) by inserting after subparagraph (B) the following: ‘‘(C) DEFICIT REDUCTION.—The Secretary of the Treasury shall deposit in the General Fund of the Treasury any amounts received by the Secretary from the sale of any obligation acquired by the Secretary under this sub- section, where such amounts shall be— ‘‘(i) dedicated for the sole purpose of deficit reduc- tion; and ‘‘(ii) prohibited from use as an offset for other spending increases or revenue reductions.’’. (c) SALE OF FEDERAL HOME LOAN BANKS OBLIGATIONS BY THE TREASURY; DEFICIT REDUCTION.—Section 11(l)(2) of the Federal Home Loan Bank Act (12 U.S.C. 1431(l)(2)) is amended— (1) by redesignating subparagraph (C) as subparagraph (D); and (2) by inserting after subparagraph (B) the following: ‘‘(C) DEFICIT REDUCTION.—The Secretary of the Treasury shall deposit in the General Fund of the Treasury any amounts received by the Secretary from the sale of any obligation acquired by the Secretary under this sub- section, where such amounts shall be— ‘‘(i) dedicated for the sole purpose of deficit reduc- tion; and ‘‘(ii) prohibited from use as an offset for other spending increases or revenue reductions.’’. (d) REPAYMENT OF FEES.—Any periodic commitment fee or any other fee or assessment paid by the Federal National Mortgage Association or Federal Home Loan Mortgage Corporation to the Secretary of the Treasury as a result of any preferred stock purchase agreement, mortgage-backed security purchase program, or any other program or activity authorized or carried out pursuant to the authorities granted to the Secretary of the Treasury under section 1117 of the Housing and Economic Recovery Act of 2008 12 USC 1455 note.