[Congressional Bills 111th Congress]
[From the U.S. Government Publishing Office]
[S. 2919 Introduced in Senate (IS)]

111th CONGRESS
  1st Session
                                S. 2919

To amend the Federal Credit Union Act to advance the ability of credit 
   unions to promote small business growth and economic development 
                 opportunities, and for other purposes.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

            December 21 (legislative day, December 20), 2009

  Mr. Udall of Colorado (for himself, Mr. Schumer, Mr. Lieberman, Ms. 
  Snowe, Mrs. Boxer, Ms. Collins, and Mrs. Gillibrand) introduced the 
 following bill; which was read twice and referred to the Committee on 
                  Banking, Housing, and Urban Affairs

_______________________________________________________________________

                                 A BILL


 
To amend the Federal Credit Union Act to advance the ability of credit 
   unions to promote small business growth and economic development 
                 opportunities, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    The Act may be cited as the ``Small Business Lending Enhancement 
Act of 2009''.

SEC. 2. LIMITS ON MEMBER BUSINESS LOANS.

    Section 107A(a) of the Federal Credit Union Act (12 U.S.C. 
1757a(a)) is amended by striking ``than the lesser of--'' and all that 
follows and inserting ``than 25 percent of the total assets of the 
credit union.''.

SEC. 3. DEFINITION OF MEMBER BUSINESS LOAN.

    Section 107A(c)(1)(B)(iii) of the Federal Credit Union Act (12 
U.S.C. 1757a(c)(1)(B)(iii)) is amended by striking ``$50,000'' and 
inserting ``an amount, not to exceed $250,000, that the Board shall 
prescribe by regulation''.

SEC. 4. REPORTS TO CONGRESS ON MEMBER BUSINESS LENDING.

    The National Credit Union Administration Board shall submit 
semiannual reports to Congress on the status of member business lending 
by insured credit unions during the reporting period, including--
            (1) trends in such lending;
            (2) types and amounts of member business loans;
            (3) recommendations for legislative action, if any, with 
        respect to such lending; and
            (4) any other information that the Board considers relevant 
        with respect to such lending.
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