To provide for the repayment of amounts borrowed by Fannie Mae and Freddie Mac from the Treasury of the United States, together with interest, over a 30-year period, and for other purposes.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Let the GSEs Pay Us Back Act of 2013''.
SEC. 2. REPAYMENT OF TREASURY BORROWING.
The Secretary of the Treasury and each enterprise (acting through the conservator for the enterprise appointed pursuant to section 1367 of the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 (12 U.S.C. 4617)) shall enter into an agreement with that modifies the Preferred Stock Purchase Agreement for such enterprise to provide as follows: (1) Termination of dividends.--That after such modification, any Senior Preferred Stock purchased under such Agreement by the Department of the Treasury shall not accrue further dividends. (2) Treatment of enterprise draws on treasury.--That any amounts received, before or after such modification, during a single year by the enterprise as a draw on the commitment made by the Department of the Treasury under such an Agreement, shall be treated as a loan made by the Treasury to the enterprise that-- (A) was originated on the date of the last such draw during such year; (B) has an original principal obligation in an amount equal to the aggregate amount of such draws; (C) has a term to maturity of...