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H.R. 1355 (114th): Small Business and Community Investments Expansion Act of 2015

The text of the bill below is as of Mar 13, 2015 (Introduced).


I

114th CONGRESS

1st Session

H. R. 1355

IN THE HOUSE OF REPRESENTATIVES

March 13, 2015

(for himself, Mr. Stivers, Mr. Paulsen, Mrs. Carolyn B. Maloney of New York, Mr. Delaney, and Mr. Cartwright) introduced the following bill; which was referred to the Committee on Financial Services

A BILL

To amend the Federal Home Loan Bank Act to expand the purposes of advances and collateral available to community development financial institutions.

1.

Short title

This Act may be cited as the The Small Business and Community Investments Expansion Act of 2015.

2.

Expanding the purposes of advances and collateral available to community development financial institutions

Section 10(a) of the Federal Home Loan Bank Act (12 U.S.C. 1430(a)) is amended—

(1)

in paragraph (2)(B), by inserting or community development financial institution (as defined in section 103 of the Riegle Community Development and Regulatory Improvement Act of 1994 (12 U.S.C. 4702)) after community financial institution; and

(2)

in paragraph (3)(E), by inserting or community development financial institution (as defined in section 103 of the Riegle Community Development and Regulatory Improvement Act of 1994 (12 U.S.C. 4702)) after community financial institution.