[Congressional Bills 115th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2954 Reported in House (RH)]

<DOC>





                                                 Union Calendar No. 359
115th CONGRESS
  2d Session
                                H. R. 2954

                          [Report No. 115-485]

  To amend the Home Mortgage Disclosure Act of 1975 to specify which 
 depository institutions are subject to the maintenance of records and 
      disclosure requirements of such Act, and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             June 20, 2017

 Mr. Emmer (for himself and Mr. Luetkemeyer) introduced the following 
    bill; which was referred to the Committee on Financial Services

                            January 8, 2018

Additional sponsors: Mr. Duffy, Mr. Hill, Mr. Latta, Mr. Arrington, Mr. 
                    Smith of Nebraska, and Mr. Ross

                            January 8, 2018

  Reported with an amendment, committed to the Committee of the Whole 
       House on the State of the Union, and ordered to be printed
 [Strike out all after the enacting clause and insert the part printed 
                               in italic]
 [For text of introduced bill, see copy of bill as introduced on June 
                               20, 2017]


_______________________________________________________________________

                                 A BILL


 
  To amend the Home Mortgage Disclosure Act of 1975 to specify which 
 depository institutions are subject to the maintenance of records and 
      disclosure requirements of such Act, 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.

    This Act may be cited as the ``Home Mortgage Disclosure Adjustment 
Act''.

SEC. 2. DEPOSITORY INSTITUTIONS SUBJECT TO MAINTENANCE OF RECORDS AND 
              DISCLOSURE REQUIREMENTS.

    (a) In General.--Section 304 of the Home Mortgage Disclosure Act of 
1975 (12 U.S.C. 2803) is amended--
            (1) by redesignating subsection (i) as paragraph (3) and 
        adjusting the margins accordingly; and
            (2) by inserting before paragraph (3), as so redesignated, 
        the following:
    ``(i) Exemptions.--
            ``(1) Closed-end mortgage loans.--With respect to a 
        depository institution, the requirements of paragraphs (5) and 
        (6) of subsection (b) shall not apply with respect to closed-
        end mortgage loans if the depository institution originated 
        less than 500 closed-end mortgage loans in each of the 2 
        preceding calendar years.
            ``(2) Open-end lines of credit.--With respect to a 
        depository institution, the requirements of paragraphs (5) and 
        (6) of subsection (b) shall not apply with respect to open-end 
        lines of credit if the depository institution originated less 
        than 500 open-end lines of credit in each of the 2 preceding 
        calendar years.''.
    (b) Technical Correction.--Section 304(i)(3) of the Home Mortgage 
Disclosure Act of 1975, as so redesignated by subsection (a)(1), is 
amended by striking ``section 303(2)(A)'' and inserting ``section 
303(3)(A)''.
                                                 Union Calendar No. 359

115th CONGRESS

  2d Session

                               H. R. 2954

                          [Report No. 115-485]

_______________________________________________________________________

                                 A BILL

  To amend the Home Mortgage Disclosure Act of 1975 to specify which 
 depository institutions are subject to the maintenance of records and 
      disclosure requirements of such Act, and for other purposes.

_______________________________________________________________________

                            January 8, 2018

  Reported with an amendment, committed to the Committee of the Whole 
       House on the State of the Union, and ordered to be printed