[Congressional Bills 103th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2996 Introduced in House (IH)]

103d CONGRESS
  1st Session
                                H. R. 2996

    To amend the Community Reinvestment Act of 1977 to exempt small 
 depository institutions and depository institutions located in small 
        towns and rural areas from the requirements of such Act.


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                    IN THE HOUSE OF REPRESENTATIVES

                             August 6, 1993

 Mr. Slattery introduced the following bill; which was referred to the 
            Committee on Banking, Finance and Urban Affairs

_______________________________________________________________________

                                 A BILL


 
    To amend the Community Reinvestment Act of 1977 to exempt small 
 depository institutions and depository institutions located in small 
        towns and rural areas from the requirements of such Act.

    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 ``Community Reinvestment Act 
Amendments of 1993''.

SEC. 2. EXEMPTION FOR SMALL AND RURAL DEPOSITORY INSTITUTIONS.

    The Community Reinvestment Act of 1977 (12 U.S.C. 2901 et seq.) is 
amended by adding at the end the following new section:

``SEC. 809. EXEMPTION FOR SMALL AND RURAL BANKS.

    ``This title shall not apply to a regulated financial institution--
            ``(1) the total assets of which do not exceed $100,000,000; 
        and
            ``(2) which is located in a rural area or in a town with a 
        population of 50,000 or less.

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