3.0.0 2487 2023-01-11T13:15:25Z 2023-01-11T13:15:25Z Senate S S 2007-12-14 110 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Standing Referred to 2007-12-14T21:40:28Z Depository Institution Community Development Investments Enhancement Act 110 1066 HR 2007-02-28 Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Related bill CRS 2007-12-14 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. IntroReferral 2007-12-14 Introduced in Senate IntroReferral 10000 9 Library of Congress C000880 Sen. Crapo, Mike [R-ID] Mike Crapo R ID N J000177 Sen. Johnson, Tim [D-SD] TIM JOHNSON D SD 2007-12-14 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 2007-12-14 Introduced in Senate 2008-03-20T16:02:32Z Depository Institution Community Development Investments Enhancement Act - Amends the Home Owners' Loan Act to revise requirements for community development investments by federal savings associations.

Authorizes a federal savings association to make investments, directly or indirectly, each of which is 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.

]]> Depository Institution Community Development Investments Enhancement Act Display Title Depository Institution Community Development Investments Enhancement Act Short Titles as Introduced Depository Institution Community Development Investments Enhancement Act Official Title as Introduced A bill to increase community development investments by depository institutions, and for other purposes. Introduced in Senate 2007-12-14T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-110s2487is/xml/BILLS-110s2487is.xml 2007-12-14 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.