Text: H.R.2305 — 116th Congress (2019-2020)All Information (Except Text)

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Introduced in House (04/12/2019)


116th CONGRESS
1st Session
H. R. 2305


To amend the Federal Credit Union Act to exclude extensions of credit made to veterans from the definition of a member business loan.


IN THE HOUSE OF REPRESENTATIVES

April 12, 2019

Mr. Gonzalez of Texas (for himself, Mr. Cook, Ms. Gabbard, and Mr. Young) introduced the following bill; which was referred to the Committee on Financial Services


A BILL

To amend the Federal Credit Union Act to exclude extensions of credit made to veterans from the definition of a member business loan.

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 “Veterans Members Business Loan Act”.

SEC. 2. Member business loan definition.

(a) In general.—Section 107A(c) of the Federal Credit Union Act (12 U.S.C. 1757a(c)) is amended—

(1) in paragraph (1)(B)—

(A) in clause (iv), by striking “or” at the end;

(B) in clause (v), by striking the period and inserting “; or”; and

(C) by adding at the end the following:

“(vi) made to a veteran;”;

(2) in paragraph (2), by striking “and” at the end;

(3) in paragraph (3), by striking the period and inserting “; and”; and

(4) by adding at the end the following:

“(4) the term ‘veteran’ has the meaning given such term under section 101 of title 38, United States Code.”.

(b) Effective date.—The amendments made by subsection (a) shall take effect after the end of the 6-month period beginning on the date of the enactment of this Act.