Text: H.R.3656 — 113th Congress (2013-2014)All Bill Information (Except Text)

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Introduced in House (12/05/2013)


113th CONGRESS
1st Session
H. R. 3656

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


IN THE HOUSE OF REPRESENTATIVES
December 5, 2013

Mr. Ellison (for himself, Mr. Stivers, Mrs. Carolyn B. Maloney of New York, and Mr. Delaney) 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.

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 “The Small Business and Community Investments Expansion Act of 2013”.

SEC. 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”.