H.R. 1209 is a bill that requires the Secretary of the Treasury to present to Congress detailed plans for ending the conservatorships of Fannie Mae and Freddie Mac, which are government-backed mortgage providers. The bill mandates that the Secretary submit a report within 30...
Simple Explanation
H.R. 1209 is a bill that asks a government worker (the Secretary of the Treasury) to make a plan for two big money companies (Fannie Mae and Freddie Mac) to stop being run by the government and go back to being on their own. The worker has to give these plans to Congress quickly and let them know if the plans are ready or still being worked on.