,,ii  #aaf? ,,congress  #b;d ,session   
,s4 #dgce  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,septemb] #bd1         
#bjbj,ms4 ,hassan 7= h]self & ,mr4      
,paul7 introduc$ ! foll[+ bill2 :i* 0   
read twice & ref]r$ to ! ,committee on  
,homel& ,security & ,gov]nm5tal ,affairs
  ,a ,,bill  ,to address recomm5dations 
made to ,congress by ! ,gov]nm5t        
,acc\ntability ,(fice z detail$ 9 its   
annual report on duplication1           
fragm5tation1 & ov]lap1 & = o!r         
purposes4  #a4 ,%ort title ,?is ,act may
 be cit$ z ! ,act+ on ! ,annual         
,duplication ,report ,act ( #bjbj4  #b4 
,f9d+s2 s5se ( ,congress  7a7 ,f9d+s    
,congress makes ! foll[+ f9d+s3 7#a7 ,! 
annual reports prep>$ by ! ,comptroll]  
,g5]al ( ! ,unit$ ,/ates "u section #ba 
( ! ,jo9t ,resolution entitl$ ,jo9t     
,resolution increas+ ! /atutory limit on
 ! public debt1 approv$ ,febru>y #ab1   
#bjaj 7#ac ,u4,s4,c4 #gab note71 h      
produc$ approximately #dbi1jjj1jjj1jjj 9
 f9ancial b5efits = ! ,f$]al ,gov]nm5t4 

7#b7 #bjbj m>ks ! t5? ye> t !           
,comptroll] ,g5]al has prep>$ ?is       
valuable report1 & dur+ t "t1 ag5cies h 
made significant progress fully or      
p>tially address+ ! ov] #ijj actions    
id5tifi$ by ! ,comptroll] ,g5]al 9 ! pa/
 decade4  7#c7 ,! #bjbj report entitl$  
,additional ,opportunities to ,r$uce    
,fragm5tation1 ,ov]lap1 & ,duplication &
 ,a*ieve ,billions 9 ,f9ancial ,b5efits 
7,,gao-#bj-bddj,,sp7 id5tifi$ #afh new  
actions t ,congress or ! executive bran*
 c take to improve effici5cy &          
effectiv5ess across ! ,f$]al ,gov]nm5t1 
& pot5tially to save t5s ( billions (   
doll>s4  7#d7 ,^? f9ancial b5efits _c be
 realiz$ )\t full implem5tation ( !     
actions & recomm5dations set =? by !    
,comptroll] ,g5]al4  7#e7 ,( ! #afh new 
actions1 sev]al require legislation to  
be fully implem5t$1 includ+-- 7,a7      
requir+ ! ,secret>y ( ! ,treasury to set
 cyb]security /&>ds = ?ird-p>ty tax     
prep>ation companies to bett] protect   
taxpay] in=mation1 z well z requir+ !   

,commission] ( ! ,int]nal ,rev5ue       
,s]vice to organize & coord9ate all     
aspects ( ! ,s]vice's ef=ts to protect  
taxpay] in=mation receiv$ f ?ird-p>ty   
prep>]s2  7,b7 requir+ ! ,secret>y ( !  
,dep>tm5t ( ,h\s+ & ,urban ,developm5t  
to evaluate & report to ,congress on !  
adequacy ( ! ,gov]nm5t ,national        
,mortgage ,association's gu>anty fee =  
s+le-family mortgage-back$ securities to
 provide capital res]ves to endure      
losses1 z well z ! ,gov]nm5t ,national  
,mortgage ,association's reliance on    
contractors & _! associat$ co/s2 &  7,c7
 requir+ ! ,secret>y ( ! ,navy to submit
 reports to ,congress if a critical co/ 
e/imate brea* occurs )9 ! major def5se  
%ip acquisition program4  7b7 ,s5se (   
congress ,x is ! s5se ( ,congress t--   
7#a7 x is ! responsibility ( ,congress &
 ! executive bran* to take action to    
implem5t recomm5dations made 9 ! annual 
reports ( ! ,gov]nm5t ,acc\ntability    
,(fice on r$uc+ duplication1            
fragm5tation1 & ov]lap 9 ,f$]al programs

 to be good /ew>ds ( taxpay] doll>s by  
a*iev+ significant sav+s & avoid+       
wa/eful sp5d+2 &  7#b7 legislation &    
adequate res\rces are ne$$ to ensure t  
all pot5tial f9ancial b5efits are       
realiz$ f ! implem5tation ( ^?          
recomm5dations4  #c4 ,protect+ !        
security ( taxpay] in=mation held by    
?ird-p>ty provid]s by improv+           
coord9ation & e/abli%+ m9imum security  
requirem5ts to r$uce fragm5tation  7a7  
,regulation ( security requirem5ts = tax
 return prep>]s & au?oriz$ e-,file      
provid]s  7#a7 ,9 g5]al ,n lat] ?an #ahj
 days aft] ! date ( ! enactm5t ( ?is    
,act1 ! ,secret>y ( ! ,treasury 7or !   
,secret>y's delegate7 %all prescribe    
/&>ds = ! security ( return in=mation & 
in=mation te*nology sy/ems t are        
consi/5t ) security /&>ds issu$ by !    
,national ,in/itute = ,/&>ds &          
,te*nology4  7#b7 ,p5alty = failure to  
secure in=mation  7,a7 ,9 g5]al ,section
 #ffie ( ! ,int]nal ,rev5ue ,code (     
#aihf is am5d$ by r$esignat+ subsection 

7h7 z subsection 7i7 & by ins]t+ aft]   
subsection 7g7 ! foll[+ new subsection3 
7h7 ,failure ,to comply ) electronic    
return security /&>ds ,any p]son :o is  
au?oriz$ by ! ,secret>y to provide      
electronic fil+ s]vices & :o fails to   
secure return in=mation & in=mation     
te*nology /&>ds 9 su* mann] z prescrib$ 
by ! ,secret>y %all pay a p5alty ( #ejj 
= ea* su* failure4 ,! maximum p5alty    
impos$ "u ?is subsection on any p]son ) 
respect to any cal5d> ye> %all n exce$  
#be1jjj4  4  7,b7 ,inflation adju/m5t   
,section #ffie7;i7 ( su* ,code1 z       
r$esignat$ by subp>agraph 7,a71 is      
am5d$-- 7i7 by r$esignat+ p>agraph 7#b7 
z p>agraph 7#c72  7ii7 by ins]t+ aft]   
p>agraph 7#a7 ! foll[+ new p>agraph3    
7#b7 ,failure to comply ) security /&>ds
 ,9 ! case ( any failure describ$ 9     
subsection 7h7 9 a cal5d> ye> beg9n+    
aft] #bjba1 ea* ( ! doll> am\nts "u     
subsection 7h7 %all be increas$ by an   
am\nt equal to su* doll> am\nt multipli$
 by ! co/-(-liv+ adju/m5t det]m9$ "u    

section #a7;f77#c7 = ! cal5d> ye>       
det]m9$ by sub/itut+ cal5d> ye> #bjbj = 
cal5d> ye> #bjaf 9 subp>agraph 7,a77ii7 
!re(4  2 &  7iii7 9 p>agraph 7#c7 7z    
r$esignat$ by clause 7i771 by /rik+     
p>agraph 7#a7 & ins]t+ p>agraph 7#a7 or 
7#b74  7,c7 ,effective date ,! am5dm5ts 
made by ?is p>agraph %all apply to      
failures describ$ 9 section #ffie7;h7 ( 
! ,int]nal ,rev5ue ,code ( #aihf 7z add$
 by subp>agraph 7,a77 aft] ! date t is  
#fj days aft] ! date ! ,secret>y        
prescribes ! /&>ds requir$ "u p>agraph  
7#a74  7b7 ,coord9ation ( taxpay]       
in=mation security ,n lat] ?an #ahj days
 aft] ! date ( enactm5t ( ?is ,act1 !   
,commission] ( ,int]nal ,rev5ue %all    
develop an organizational plan to create
 a c5traliz$ body or o!r gov]nance      
/ructure to coord9ate all aspects ( !   
,int]nal ,rev5ue ,s]vice's ef=ts to     
protect return in=mation :ile be+ held  
or transmitt$ by ^? au?oriz$ by !       
,int]nal ,rev5ue ,s]vice to provide     
electronic fil+ s]vices4 ,! ,commission]

 %all transmit ! organizational plan to 
! ,committee on ,f9ance ( ! ,s5ate1 !   
,committee on ,homel& ,security &       
,gov]nm5tal ,affairs ( ! ,s5ate1 !      
,committee on ,ways & ,means ( ! ,h\se (
 ,repres5tatives1 & ! ,committee on     
,ov]sight & ,re=m ( ! ,h\se (           
,repres5tatives4  #d4 ,optimiz+ rev5ue  
intake & sav+ taxpay] doll>s at g9nie   
mae by assess+ curr5t practices &       
explor+ alt]native gov]nance /ructures  
to provide bett] ov]sight  7a7          
,def9itions ,9 ?is section-- 7#a7 ! t]m 
appropriate congressional committees    
means-- 7,a7 ! ,committee on ,bank+1    
,h\s+1 & ,urban ,affairs ( ! ,s5ate2    
7,b7 ! ,committee on ,homel& ,security &
 ,gov]nm5tal ,affairs ( ! ,s5ate2  7,c7 
! ,committee on ,f9ancial ,s]vices ( !  
,h\se ( ,repres5tatives2 &  7,d7 !      
,committee on ,ov]sight & ,re=m ( !     
,h\se ( ,repres5tatives2  7#b7 ! t]m    
,association means ! ,gov]nm5t ,national
 ,mortgage ,association2 &  7#c7 ! t]m  
,secret>y means ! ,secret>y ( ,h\s+ &   

,urban ,developm5t4  7b7 ,gu>anty fee   
/udy & report ,n lat] ?an #a ye> aft] ! 
date ( enactm5t ( ?is ,act1 ! ,secret>y 
%all conduct a /udy & submit to !       
appropriate congressional committees & !
 ,comptroll] ,g5]al ( ! ,unit$ ,/ates a 
report on ! adequacy ( ! gu>anty fee ( !
 ,association = s+le-family             
mortgage-back$ securities1 :i* %all--   
7#a7 evaluate ! ext5t to :i* ! level ( !
 gu>anty fee = s+le-family              
mortgage-back$ securities provides !    
,association ) suffici5t res]ves to cov]
 pot5tial losses "u diff]5t economic    
sc5>ios1 includ+ adv]se sc5>ios1 bas$ on
 an actu>ial or simil> analysis2  7#b7  
id5tify ! types ( /&>ds t ! ,association
 c\ld use to set ! gu>anty fee =        
s+le-family mortgage-back$ securities & 
evaluate :i* /&>d or /&>ds w\ld enable !
 ,association to set ! gu>anty fee at an
 appropriate level 9 l9e ) ! mission ( !
 ,association2  7#c7 assess ! b5efits & 
co/s ( adopt+ a risk-bas$ gu>anty fee = 
s+le-family mortgage-back$ securities t 

imposes a high] fee on high] risk       
issu]s2  7#d7 analyze h[ & to :at ext5t 
an increase 9 ! gu>anty fee 7= all      
issu]s & a subset ( riski] issu]s7 w\ld 
affect borr[]s' f9anc+1 clos+1 & o!r    
relat$ co/s = f$]ally insur$ mortgage   
loans2 &  7#e7 if w>rant$1 include      
recomm5dations = any necess>y am5dm5ts  
to ! ,national ,h\s+ ,act 7#ab ,u4,s4,c4
 #agja et seq47 to *ange ! gu>anty fee =
 s+le-family mortgage-back$ securities1 
includ+ = e/abli%+ a /&>d "u :i* !      
,association c det]m9e ! level ( !      
gu>anty fee = s+le-family mortgage-back$
 securities4  7c7 ,reliance on          
contractors /udy & report ,n lat] ?an #a
 ye> aft] ! date ( enactm5t ( ?is ,act1 
! ,secret>y %all conduct a /udy & submit
 to ! appropriate congressional         
committees & ! ,comptroll] ,g5]al ( !   
,unit$ ,/ates a report evaluat+ !       
work=ce composition ( ! ,association 9  
consid]ation ( ! critical functions ( ! 
,association1 :i* %all-- 7#a7 analyze-- 
7,a7 ! numb] ( ,f$]al employees &       

contractors by type ( role or position t
 ! ,association uses to p]=m compliance1
 risk managem5t1 & o!r critical         
functions1 & ! co/ ( a full-"t equival5t
 ,f$]al employee v]sus a contractor =   
comp>able roles or positions2  7,b7 !   
ext5t to :i* ! ,association c\ld use    
,f$]al employees in/ead ( contractors by
 role or position to p]=m critical      
functions2  7,c7 ! types & am\nts ( co/s
 t ! ,association c\ld save by us+      
,f$]al employees in/ead ( contractors1  
:]e possible1 to p]=m critical          
functions1 su* z sav+s f diff]5ces 9 pay
 & n hav+ to ov]see contractors2  7,d7  
:e!r ! ,association w\ld face any legal 
or o!r ob/acles 9 us+ ,f$]al employees  
in/ead ( contractors to p]=m critical   
functions2 &  7,e7 ! pot5tial negative &
 positive effects ( us+ ,f$]al employees
 in/ead ( contractors on ! ability ( !  
,association to a*ieve ! mission ( !    
,association2 &  7#b7 if w>rant$1       
include recomm5dations = any necess>y   
am5dm5ts to ! ,national ,h\s+ ,act 7#ab 

,u4,s4,c4 #agja et seq47 to *ange !     
fund+ /ructure ( ! ,association4  7d7   
,comp5sation /ructure /udy & report ,n  
lat] ?an #a ye> aft] ! date ( enactm5t (
 ?is ,act1 ! ,secret>y %all conduct a   
/udy & submit to ! appropriate          
congressional committees & ! ,comptroll]
 ,g5]al ( ! ,unit$ ,/ates a report      
evaluat+ ! work=ce *all5ges ( !         
,association1 :i* %all-- 7#a7 analyze1  
quantitatively to ! ext5t possible1 !   
*all5ges ( ! ,association 9 hir+ &      
reta9+ /aff1 includ+ comp5sation1 dur+ !
 #c-ye> p]iod prec$+ ! report2  7#b7    
id5tify & summ>ize ! options t !        
,association has pursu$ )9 exi/+        
au?orities to address ! /aff+ *all5ges (
 ! ,association1 includ+ :i* ag5cies or 
(fices 7 involv$1 & ! key decisions &   
outcomes ( ^? ef=ts2  7#c7 id5tify      
options t ! ,association did n pursue )9
 exi/+ au?orities to address ! /aff+    
*all5ges ( ! ,association & ! reasons = 
n pursu+ ^? options2  7#d7 id5tify &    
evaluate options outside ( exi/+        

au?orities t ! ,association c\ld use to 
address ! /aff+ *all5ges ( !            
,association & ! pot5tial b5efits & co/s
 ( ^? options2 &  7#e7 if w>rant$1      
include recomm5dations = any necess>y   
am5dm5ts to ! ,national ,h\s+ ,act 7#ab 
,u4,s4,c4 #agja et seq47 to *ange h[ !  
,gov]nm5t ,national ,mortgage           
,association sets comp5sation4  7e7     
,review ( re=ms to g9nie mae's          
organizational & ov]sight /ructure ,!   
,comptroll] ,g5]al ( ! ,unit$ ,/ates    
%all conduct a /udy & submit to !       
appropriate congressional committees a  
report on alt]nate ways ( ov]see+ !     
,association to address increas+ risks1 
:i* %all-- 7#a7 review ! reports        
submitt$ by ! ,secret>y "u subsections  
7b71 7c71 & 7d7 to det]m9e if ! reports 
address$ ! requir$ provisions & assess  
any recomm5dations made 9 ^? reports2   
7#b7 id5tify key *all5ges or con/ra9ts t
 ! ,association has fac$ "u ! gov]nance 
& fund+ /ructure ( ! ,association z a   
gov]nm5t corporation )9 ! ,dep>tm5t (   

,h\s+ & ,urban ,developm5t2  7#c7       
id5tify alt]native models "u :i* !      
gov]nance & fund+ /ructure ( !          
,association c\ld be reorganiz$ to bett]
 support h\s+ policy priorities 9 !     
,unit$ ,/ates & to ensure t !           
,association fulfill+ ! role ( increas+ 
liquidity 9 ! h\s+ f9ance m>ket :ile    
also m9imiz+ risk to ! taxpay]2  7#d7   
evaluate ! pot5tial positive & negative 
impacts ( ! models describ$ 9 p>agraph  
7#c7 on ! ,association1 ! ,dep>tm5t (   
,h\s+ & ,urban ,developm5t1 & o!r       
/akehold]s2  7#e7 obta9 input f relevant
 /akehold]s1 su* z ,f$]al entities1     
l5d]s1 issu]s1 inve/ors1 af=dable h\s+  
advocates1 & rese>*]s1 on re=ms to !    
organizational & ov]sight /ructure ( !  
,association2  7#f7 consid] ! h\s+      
f9ance sy/em & ways 9 :i* alt]native    
ov]sight /ructures ( ! ,association c\ld
 impact ! sy/em2 &  7#g7 review su* o!r 
in=mation z ! ,comptroll] ,g5]al        
det]m9es relevant4  #e4 ,controll+      
unanticipat$ su/a9m5t co/s associat$ )  

,navy major def5se %ip acquisition      
programs ?r\gh robu/ ov]sight  7a7 ,9   
g5]al ,*apt] #add ( title #aj1 ,unit$   
,/ates ,code1 is am5d$ by ins]t+ aft]   
section #bdcc;a ! foll[+ new section3   
#bdcc;b4 ,critical op]at+ & support co/ 
e/imate gr[? 9 ,navy %ipbuild+ programs 
7a7 ,report+ ,n lat] ?an #ahj days aft] 
id5tify+ a critical op]at+ & support co/
 e/imate brea* 9 a ,dep>tm5t ( ! ,navy  
major def5se %ip acquisition program1 ! 
,secret>y ( ! ,navy %all submit to !    
,committee on ,arm$ ,s]vices &          
,committee on ,homel& ,security &       
,gov]nm5tal ,affairs ( ! ,s5ate & !     
,committee on ,arm$ ,s]vices &          
,committee on ,ov]sight & ,re=m ( !     
,h\se ( ,repres5tatives a report t      
includes ! foll[+3 7#a7 ,a det]m9ation &
 docum5tation ( ! root cause or causes (
 ! critical op]at+ & support co/ e/imate
 gr[?4  7#b7 ,a reassessm5t ( !         
program's op]at+ & support co/ e/imate t
 includes a new manp[] analysis1        
incorporates available actual co/ data1 

& includes a s5sitivity analysis ( key  
assumptions4  7#c7 ,a plan to r$uce !   
e/imat$ op]at+ & support co/s1 includ+ !
 am\nt t c\ld be r$uc$ & ! trade-(fs or 
*all5ges 9 mak+ ^! r$uctions4  7#d7 ,a  
reassessm5t ( ! program's ability to    
meet any *anges to ! program's su/a9m5t 
key p]=mance p>amet] relat$ to          
op]ational availability & mat]iel       
availability4  7#e7 ,a det]m9ation to   
t]m9ate or modify ! program or a        
c]tification t ! program cont9ues to be 
ess5tial to national security & t !     
program w meet its plann$ requirem5ts4  
7b7 ,def9itions ,9 ?is section-- 7#a7 ! 
t]m av]age annual op]at+ & support co/s 
p] %ip means ! total op]at+ support co/s
 associat$ ) a program1 divid$ by !     
numb] ( hulls1 multipli$ by ! ye>s (    
s]vice life describ$ 9 ! orig9al        
,basel9e ,e/imate2  7#b7 ! t]m critical 
op]at+ & support co/ e/imate gr[? means 
gr[? t exce$s ! op]at+ & support co/    
e/imate ?re%olds by at lea/ #cj p]c5t1 z
 /at$ 9 t]ms ( con/ant base ye>s doll>s1

 ov] ! av]age annual op]at+ & support   
co/s p] %ip z d]iv$ f ! orig9al ,basel9e
 ,e/imate = ! program1 dur+ ! p]iod !   
,navy submits ,select$ ,acquisition     
,reports or alt]natives to ! ,select$   
,acquisition ,reports 9 accordance )    
section #bdcb ( ?is title2 &  7#c7 ! t]m
 major def5se %ip acquisition program   
means any ,dep>tm5t ( ! ,navy %ipbuild+ 
program ) e/imat$ co/s equival5t to !   
doll> ?re%olds = a major def5se         
acquisition program "u section #bdcj (  
?is title4  4  7b7 ,cl]ical am5dm5t ,!  
table ( sections at ! beg9n+ ( *apt]    
#add ( su* title is am5d$ by ins]t+ aft]
 ! item relat+ to section #bdcc;a !     
foll[+ new item3  #bdcc;b4 ,critical    
op]at+ & support co/ e/imate gr[? 9     
,navy %ipbuild+ programs4  4