[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[S. 539 Introduced in Senate (IS)]

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118th CONGRESS
  1st Session
                                 S. 539

 To amend the Federal Credit Union Act to exclude extensions of credit 
    made to veterans from the definition of a member business loan.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                           February 28, 2023

  Mr. Sullivan (for himself and Ms. Hirono) 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 exclude extensions of credit 
    made to veterans from the definition of a member business loan.

    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 ``Veterans Member Business Loan Act''.

SEC. 2. MEMBER BUSINESS LOAN DEFINITION.

    (a) In General.--Section 107A(c) of the Federal Credit Union Act 
(12 U.S.C. 1757a(c)) is amended--
            (1) in paragraph (1)(B)--
                    (A) in clause (iv), by striking ``or'' at the end;
                    (B) in clause (v), by striking the period at the 
                end and inserting ``; or''; and
                    (C) by adding at the end the following:
                            ``(vi) made to a veteran;'';
            (2) in paragraph (2)(B)(ii), by striking ``and'' at the 
        end;
            (3) in paragraph (3), by striking the period at the end and 
        inserting ``; and''; and
            (4) by adding at the end the following:
            ``(4) the term `veteran' has the meaning given the term in 
        section 101 of title 38, United States Code.''.
    (b) Effective Date.--The amendments made by subsection (a) shall 
take effect on the date that is 180 days after the date of enactment of 
this Act.
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