3.0.0 6062 2023-01-12T17:52:20Z 2023-01-12T17:52:20Z House H HR 2006-09-13 109 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Standing Referred to 2006-11-13T21:51:39Z hsba00 Financial Services Committee House Standing Referred to 2006-09-13T14:01:00Z 2006-11-13 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. IntroReferral 2006-09-28 Senate Received in the Senate. IntroReferral 2006-09-27 19:54:49 Motion to reconsider laid on the table Agreed to without objection. Floor H38310 2 House floor actions 2006-09-27 19:54:45 On motion to suspend the rules and pass the bill Agreed to by voice vote. (text: CR H7601-7602) Floor H37300 2 House floor actions 2006-09-27 19:54:45 Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by voice vote.(text: CR H7601-7602) Floor 8000 9 Library of Congress 2006-09-27 19:50:44 DEBATE - The House proceeded with forty minutes of debate on H.R. 6062. Floor H8D000 2 House floor actions 2006-09-27 19:50:42 Considered under suspension of the rules. (consideration: CR H7601-7604) Floor H30000 2 House floor actions 2006-09-27 19:50:29 Mr. McHenry moved to suspend the rules and pass the bill. Floor H30300 2 House floor actions 2006-09-13 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2006-09-13 Introduced in House IntroReferral Intro-H 9 Library of Congress 2006-09-13 Introduced in House IntroReferral 1000 9 Library of Congress F000339 Rep. Frank, Barney [D-MA-4] BARNEY FRANK D MA 4 N O000163 Rep. Oxley, Michael G. [R-OH-4] MICHAEL OXLEY R OH G. 4 2006-09-13 True Finance and Financial Sector Bank capital Community development Community development banking Depressed areas Economics and Public Finance Housing and Community Development Infrastructure Investments Job creation Law Liability (Law) Savings and loan associations Urban affairs Finance and Financial Sector 00 2006-09-13 Introduced in House 2006-10-19T15:25:03Z Community Development Investment Enhancements Act of 2006 - Amends the Revised Statues of the United States and the Federal Reserve Act to increase from 10% to 15% of its capital stock actually paid in and unimpaired, and from 10% to 15% of its unimpaired surplus fund, the maximum aggregate community development investments of a national banking association or a state member bank, including its subsidiaries. Applies such limits to each such investment.

Amends the Home Owners' Loan Act to authorize a federal savings association to make investments designed primarily to promote the public welfare, including the welfare of low- and moderate-income communities or families through the provision of housing, services, and jobs (community development investments).

Requires the Director of the Office of Thrift Supervision to establish: (1) the amount any savings association may invest in any one project; and (2) the aggregate amount of investment of any savings association.

Declares that the maximum aggregate amount of investments of any savings association is limited to the same 15% of capital stock actually paid in and unimpaired and 15% of unimpaired surplus fund as imposed by this Act on national banking associations and state member banks.

]]> 81 2006-09-27 Passed House without amendment 2006-10-19T15:31:56Z (This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)

Community Development Investment Enhancements Act of 2006 - Amends the Revised Statues of the United States and the Federal Reserve Act to increase from 10% to 15% of its capital stock actually paid in and unimpaired, and from 10% to 15% of its unimpaired surplus fund, the maximum aggregate community development investments of a national banking association or a state member bank, including its subsidiaries. Applies such limits to each such investment.

Amends the Home Owners' Loan Act to authorize a federal savings association to make investments designed primarily to promote the public welfare, including the welfare of low- and moderate-income communities or families through the provision of housing, services, and jobs (community development investments).

Permits such investments to be made directly or by purchase of interests in an entity primarily engaged in making such investments.

Prohibits a federal savings association from making an investment which would subject it to unlimited liability to any person.

Requires the Director of the Office of Thrift Supervision to establish: (1) the amount any savings association may invest in any one project; and (2) the aggregate amount of investment of any savings association.

Restricts the aggregate amount of investment of any savings association, subject to specified determinations made by the Director.

Prohibits the maximum aggregate amount of investments of any savings association from exceeding the same 15% of its capital stock actually paid in and unimpaired and 15% of its unimpaired surplus as imposed by this Act on national banking associations and state member banks.

]]> Community Development Investment Enhancements Act of 2006 Display Title Community Development Investment Enhancements Act of 2006 Official Title as Introduced To enhance community development investments by financial institutions, and for other purposes. Introduced in House IH Short Titles as Introduced Community Development Investment Enhancements Act of 2006 Short Titles as Passed House Community Development Investment Enhancements Act of 2006 H House Referred in Senate 2006-11-13T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-109hr6062rfs/xml/BILLS-109hr6062rfs.xml Engrossed in House 2006-09-27T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-109hr6062eh/xml/BILLS-109hr6062eh.xml Introduced in House 2006-09-13T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-109hr6062ih/xml/BILLS-109hr6062ih.xml 2006-11-13 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.