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H.R. 3819 (113th): Fairness for Community Job Creators Act


The text of the bill below is as of Jan 8, 2014 (Introduced). The bill was not enacted into law.


I

113th CONGRESS

2d Session

H. R. 3819

IN THE HOUSE OF REPRESENTATIVES

January 8, 2014

(for herself, Mr. Hensarling, Mr. Bachus, Mr. Garrett, Mr. Neugebauer, and Mr. McHenry) introduced the following bill; which was referred to the Committee on Financial Services

A BILL

To amend a provision of the Bank Holding Company Act of 1956 regarding prohibitions on investments in certain funds to clarify that such provision shall not be construed to require the divestiture of certain collateralized debt obligations backed by trust-preferred securities.

1.

Short title

This Act may be cited as the Fairness for Community Job Creators Act .

2.

Rule of construction relating to debt instruments

Section 13 of the Bank Holding Company Act of 1956 ( 12 U.S.C. 1851 ) is amended by adding at the end the following new subsection:

(i)

Rule of construction

Nothing in this section shall be construed to require the divestiture of any collateralized debt obligations issued before December 10, 2013, that as of December 10, 2013, are predominantly backed by trust-preferred securities.

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