H.R. 492: End Unnecessary Borrowing Act of 2017
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H.R. 492: End Unnecessary Borrowing Act of 2017
115th Congress · introduced 2017-01-12 · Housing and Community Development · Latest: Referred to the House Committee on Financial Services.
federal
Follow this bill, step by step
- Where it came from: introduced 2017-01-12 · official record
- Who proposed it: Rep. Capuano, Michael E. [D-MA-7] · what a sponsor is
- What happened next: no floor votes in our records yet. Why?
- Where it stands now: Referred to the House Committee on Financial Services. Not final yet: this can still change. We check for updates every day.
- If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.
Official title
End Unnecessary Borrowing Act of 2017
Plain summary
End Unnecessary Borrowing Act of 2017 This bill amends the National Housing Act with respect to the requirement that the Department of Housing and Urban Development (HUD) endeavor to ensure that the Mutual Mortgage Insurance Fund (MMI Fund) attains a capital ratio of not less than 2% within 10 years after enactment of that requirement (November 5, 1990) and to ensure that the fund maintains at least that capital ratio at all times thereafter. The bill prohibits these requirements from being construed to authorize or require HUD to borrow any amounts to comply with the capital ratio requirement. Any HUD authority to borrow from the Treasury for the MMI Fund may be used only to the extent necessary to pay claims on mortgage insurance that is an obligation of such fund.
Congressional Research Service summary (Introduced in House), quoted unchanged (nonpartisan). Read the source.
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A “Yea” vote
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A “Nay” vote
If it is not passed, current law stays as it is.
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What does this mean? (plain words)
Official text
End Unnecessary Borrowing Act of 2017
Source: Congressional Research Service summary (Introduced in House)
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How did my representative vote? · This bill's floor votes
Officials and money
Sponsor: Rep. Capuano, Michael E. [D-MA-7] · 0 cosponsors
Cost estimate: No cost estimate published yet.
No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.
Words on this page, explained (3)
- Authorization
- A law that creates or continues a government program and says what it may do, often with a suggested spending ceiling. An authorization alone does not provide money; a separate appropriation does.
- Bill
- A proposed law. It becomes law only if it passes the legislature and is signed by the president or governor (or a veto is overridden).
- Obligation
- A binding promise by a government agency to pay money, for example by signing a contract or awarding a grant. Spending data such as USAspending.gov counts money when it is obligated, which can be before it is actually paid out.
Plain meanings written from linked sources. All words.
Sources
- Congressional Research Service summary (Introduced in House)
- Congress.gov
- Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-115hr492.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/115/hr>
Record fed-us-cong115-hr492 · catalog fed-us-congress-bills-cong115 · updated 2026-11-15 by psicol fed-bills-cong115