[Congressional Bills 115th Congress]
[From the U.S. Government Publishing Office]
[H.R. 704 Introduced in House (IH)]

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115th CONGRESS
  1st Session
                                H. R. 704

   To amend the Federal Home Loan Bank Act to expand the purposes of 
 advances and collateral available to community development financial 
                             institutions.


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                    IN THE HOUSE OF REPRESENTATIVES

                            January 27, 2017

 Mr. Ellison (for himself, Mr. Stivers, Mrs. Carolyn B. Maloney of New 
    York, Mr. Pittenger, Mr. Delaney, Mr. Paulsen, and Ms. Sinema) 
 introduced the following bill; which was referred to the Committee on 
                           Financial Services

_______________________________________________________________________

                                 A BILL


 
   To amend the Federal Home Loan Bank Act to expand the purposes of 
 advances and collateral available to community development financial 
                             institutions.

    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 ``Small Business and Community 
Investments Expansion Act of 2017''.

SEC. 2. EXPANDING THE PURPOSES OF ADVANCES AND COLLATERAL AVAILABLE TO 
              COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS.

    Section 10(a) of the Federal Home Loan Bank Act (12 U.S.C. 1430(a)) 
is amended--
            (1) in paragraph (2)(B), by inserting ``or community 
        development financial institution (as defined in section 103 of 
        the Riegle Community Development and Regulatory Improvement Act 
        of 1994 (12 U.S.C. 4702))'' after ``community financial 
        institution''; and
            (2) in paragraph (3)(E), by inserting ``or community 
        development financial institution (as defined in section 103 of 
        the Riegle Community Development and Regulatory Improvement Act 
        of 1994 (12 U.S.C. 4702))'' after ``community financial 
        institution''.
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