,,ii  #aacth ,,congress  #ast ,session  
,s4 #efc  ,,in ,,the ,,senate ,,of ,,the
 ,,united ,,states  ,march #ad1 #bjac   
,mr4 ,corker 7for himself1 ,mr4 ,warner1
 ,mr4 ,vitter1 and ,ms4 ,warren7        
introduced the following bill2 which was
 read twice and referred to the         
,committee on ,banking1 ,housing1 and   
,urban ,affairs  ,a ,,bill  ,to provide 
certainty that ,congress and the        
,administration will undertake          
substantive and structural housing      
finance reform1 and for other purposes4 
#a4 ,short title ,this ,act may be cited
 as the ,jumpstart ,,gse ,reform ,act4  
#b4 ,definitions ,as used in this ,act1 
the following definitions shall apply3  
7#a7 ,enterprise ,the term enterprise   
has the same meaning as in section #acjc
 of the ,federal ,housing ,enterprises  
,financial ,safety and ,soundness ,act  
of #aiib4  7#b7 ,guarantee fee ,the term
 guarantee fee has the same meaning as  
in section #acbg7;a7 of the ,housing and
 ,community ,development ,act of #aiib  

7#ab ,u4,s4,c4 #dedg7;a774  7#c7        
,secretary ,the term ,secretary means   
the ,secretary of the ,treasury4  7#d7  
,senior ,preferred ,stock ,purchase     
,agreement ,the term ,senior ,preferred 
,stock ,purchase ,agreement means--     
7,a7 the ,amended and ,restated ,senior 
,preferred ,stock ,purchase ,agreement1 
dated ,september #bf1 #bjjh1 as such    
,agreement has been amended on ,may #f1 
#bjji1 ,december #bd1 #bjji1 and ,august
 #ag1 #bjab1 respectively1 and as such  
,agreement may be further amended and   
restated1 entered into between the      
,department of the ,treasury and each   
enterprise1 as applicable2 and  7,b7 any
 provision of any certificate in        
connection with such ,agreement creating
 or designating the terms1 powers1      
preferences1 privileges1 limitations1 or
 any other conditions of the ,variable  
,liquidation ,preference ,senior        
,preferred ,stock of an enterprise      
issued or sold pursuant to such         
,agreement4  #c4 ,prohibition on use of 

guarantee fees to offset other          
government spending ,an increase in the 
guarantee fee required to be charged by 
an enterprise may not be used to offset 
an increase in outlays or a reduction in
 revenues for any purpose other than    
those related to the enterprises'       
business functions under--  7#a7 the    
congressional budget2  7#b7 the         
,balanced ,budget and ,emergency        
,deficit ,control ,act of #aihe2 or     
7#c7 the ,statutory ,pay-,as-,you-,go   
,act of #bjaj4  #d4 ,limitations on sale
 of preferred stock ,notwithstanding any
 other provision of law or any provision
 of the ,senior ,preferred ,stock       
,purchase ,agreement1 the ,secretary may
 not sell1 transfer1 relinquish1        
liquidate1 divest1 or otherwise dispose 
of any outstanding shares of senior     
preferred stock acquired pursuant to the
 ,senior ,preferred ,stock ,purchase    
,agreement1 until such time as ,congress
 has passed and the ,president has      
signed into law legislation that        

includes a specific instruction to the  
,secretary regarding the sale1 transfer1
 relinquishment1 liquidation1           
divestiture1 or other disposition of the
 senior preferred stock so acquired4