Text: H.R.3819 — 113th Congress (2013-2014)All Bill Information (Except Text)

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Introduced in House (01/08/2014)


113th CONGRESS
2d Session
H. R. 3819

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.


IN THE HOUSE OF REPRESENTATIVES
January 8, 2014

Mrs. Capito (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.

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 “Fairness for Community Job Creators Act”.

SEC. 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.”.