,i  #aac? ,,congress  #a/ ,session  ,h4 
,r4 #bdcg  ,,9 ,,! ,,h\se ,,(           
,,repres5tatives  ,june #ai1 #bjac ,mr4 
,fattah introduc$ ! foll[+ bill2 :i* 0  
ref]r$ to ! ,committee on ,f9ancial     
,s]vices  ,a ,,bill  ,to au?orize !     
,secret>y ( ,h\s+ & ,urban ,developm5t  
to e/abli% a national program to create 
jobs & increase economic developm5t by  
promot+ coop]ative developm5t4  #a4     
,%ort title ,?is ,act may be cit$ z !   
,creat+ ,jobs ,?r\gh ,coop]atives ,act4 
#b4 ,f9d+s & purpose  7a7 ,f9d+s ,!     
,congress f9ds ! foll[+3  7#a7 ,t ,f$]al
 policy c promote coop]ative developm5t1
 :i* demon/rably has ! foll[+ b5efits = 
communities locat$ 9 su* areas3  7,a7   
,advanc+ local economic /ability4  7,b7 
,increas+ local circulation ( capital1  
!reby increas+ economic multipli]s & !  
impact ( community inve/m5t to spur     
locally ori5t$ economic gr[?4  7,c7     
,develop+1 attract+1 & an*or+ new       
productive capital 9 l[-income          
communities4  7,d7 ,exp&+ inve/m5t      

opportunities & asset creation = l[- &  
mod]ate-income ,am]icans4  7#b7         
,coop]atives op]ate 9 all #ej ,/ates &  
across all sectors ( ! ,unit$ ,/ates    
economy1 includ+ indu/ries su* z en]gy1 
telecommunications1 food di/ribution1   
insurance1 cr$it unions1 agriculture1   
heal?1 h\s+1 & :olesale & retail pur*as+
 & di/ribution  7#c7 ,!re are #bi1jjj   
coop]atives 9 ! ,unit$ ,/ates t acc\nt =
 m ?an #c trillion 9 assets1 ov] #ejj   
billion 9 total rev5ue1 #be billion 9   
wages & b5efits1 & ne>ly two million    
jobs  7b7 ,purpose ,! purpose ( ?is ,act
 is to e/abli% a ,f$]al program t w     
create jobs & increase economic         
developm5t by promot+ coop]ative        
developm5t4  #c4 ,def9itions ,9 ?is     
,act3  7#a7 ,coop]ative developm5t ,!   
t]m coop]ative developm5t means te*nical
 assi/ance provid$ = ! purpose (--  7,a7
 provid+ f9ancial =eca/+1 feasibility   
analysis1 bus9ess plann+1 & o!r         
prep>atory activity to ensure t a       
coop]ative organization1 or             

organizations t are 9 ! process (       
e/abli%+ su* an organization1 are gr\nd$
 9 s\nd bus9ess practices2  7,b7 assi/+ 
) e/abli%+ incorporation docum5ts1      
bylaws1 & policies t ensure t coop]ative
 organizations--  7i7 adh]e to legal    
obligations ( a local or ,/ate gov]nm5t 
or ! ,f$]al ,gov]nm5t2 &  7ii7 are      
gov]n$ by transp>5t & agre$-^u rules2   
7,c7 educat+1 ) respect to h[ coop]ative
 organizations function--  7i7 bo>d     
memb]s1 managem5t1 & employees (        
coop]ative organizations2  7ii7 local   
communities affect$ by su* organizations
 & ! g5]al public2 &  7iii7 pr(essionals
 involv$ 9 coop]ative developm5t2  7,d7 
provid+ organizational plann+ =         
coop]ative organizations1 includ+ bo>d  
meet+s & bo>d developm5t1 & /rategic    
plann+2  7,e7 ho/+ network+ activities &
 conf]5ces involv+ coop]ative           
organizations1 entities t "w ) su*      
organizations1 & pr(essional            
organizations t engage 9 coop]ative     
developm5t2  7,f7 provid+ pr(essional   

developm5t ( pr(essionals involv$ 9     
coop]ative developm5t by (f]+ tra9+     
focus$ on coop]ative developm5t2 &  7,g7
 provid+ adm9i/rative & op]ational      
set-up ( coop]ative organizations4  7#b7
 ,coop]ative organization ,! t]m        
coop]ative organization means an        
autonom\s association ( p]sons unit$    
volunt>ily to meet _! common economic1  
social1 & cultural ne$s & aspirations   
?r\gh a jo9tly-own$ &                   
democratically-controll$ ent]prise4     
7#c7 ,eligible project area  7,a7 ,9    
g5]al ,! t]m eligible project area means
 an area locat$ )9--  7i7 a c5sus tract 
t is def9$ z l[- or mod]ate-income by ! 
,bureau ( ! ,c5sus ( ! ,dep>tm5t (      
,comm]ce2  7ii7 a population c5sus tract
 t is treat$ z a l[-income community "u 
section #de;,d7e7 ( ! ,int]nal ,rev5ue  
,code ( #aihf2 or  7iii7 subject to     
subp>agraph 7,b71 an area t--  7,i7 is  
adjac5t or close to an area t meets !   
requirem5ts ( ei!r clause 7i7 or 7ii72 &
  7,,ii7 is giv5 special approval by !  

,secret>y to be classifi$ z an eligible 
project area4  7,b7 ,limitation ,!      
,secret>y %all limit ! numb] ( projects 
fund$ "u ?is ,act t are locat$ 9 an area
 describ$ 9 subp>agraph 7,a77iii74  7#d7
 ,local coop]ative developm5t c5t] ,!   
t]m local coop]ative developm5t c5t]    
means a nonpr(it organization1 college1 
or univ]sity1 or a gr\p ( su*           
organizations1 colleges1 or univ]sities1
 ) exp]tise 9 e/abli%+ & develop+       
coop]ative organizations4  7#e7 ,program
 ,! t]m program means ! ,national       
,coop]ative ,developm5t ,program        
e/abli%$ "u section #d4  7#f7 ,secret>y 
,! t]m ,secret>y means ! ,secret>y (    
,h\s+ & ,urban ,developm5t1 or !        
,secret>y's designee4  #d4 ,national    
,coop]ative ,developm5t ,program  7a7   
,e/abli%m5t ,! ,secret>y ( ,h\s+ &      
,urban ,developm5t %all e/abli% a       
program to be kn[n z ! ,national        
,coop]ative ,developm5t ,program to c>ry
 out ! purpose describ$ 9 section       
#b7;b74  7b7 ,assi/ance = coop]ative    

developm5t  7#a7 ,uses ,! ,secret>y %all
 use am\nts made available = ! program  
=--  7,a7 provid+ grants to local       
coop]ative developm5t c5t]s1 to c>ry out
 activities t promote coop]ative        
developm5t1 t are select$ = su* grants  
"u p>agraph 7#c77;,b72  7,b7 p>tn]+ ) "o
 or m f9ancial in/itutions to--  7i7    
e/abli% a revolv+ loan program t w      
provide loans to coop]ative             
organizations to und]take coop]ative    
developm5t2 &  7ii7 develop o!r loan    
programs & f9ancial products t c be     
access$ by coop]ative organizations2 &  
7,c7 c>ry+ out any o!r activities t !   
,secret>y deems necess>y to ! fur!rance 
( ! purposes ( ?is ,act4  7#b7          
,allocation ( am\nts ,! ,secret>y %all  
allocate n less ?an #ej p]c5t ( ! am\nts
 made available = ! program = grants "u 
p>agraph 7#a77;,a7 to local coop]ative  
developm5t c5t]s4  7#c7 ,grants to local
 coop]ative developm5t c5t]s  7,a7      
,grants ,! ,secret>y may make grants1   
pursuant to p>agraph 7#a77;,a77i71 to   

local developm5t c5t]s select$ "u ?is   
p>agraph1 & %all ent] into grant        
agreem5ts ) su* c5t]s select$ & provide 
grants 9 accordance ) su* agreem5ts4    
,ea* grant agreem5t = a local developm5t
 c5t] %all provide = a grant = at lea/  
"o fiscal ye> & may provide = grants = a
 p]iod n to exce$ #c fiscal ye>s4  7,b7 
,selection ,! ,secret>y %all select1    
?r\gh a competitive process1 local      
coop]ative developm5t c5t]s to receive  
grants pursuant to p>agraph             
7#a77;,a77i74  7,c7 ,crit]ia = selection
 ,9 select+ local coop]ative developm5t 
c5t]s to receive su* grants1 ! ,secret>y
 %all take into consid]ation ! foll[+3  
7i7 ,! te*nical capacity ( ! c5t] to    
c>ry out eligible projects4  7ii7 ,!    
ability ( ! c5t] to deliv] te*nical     
assi/ance4  7iii7 ,! capacity &         
commitm5t ( ! c5t] to (f]+ coop]ative   
developm5t4  7iv7 ,:e!r ! c5t] c provide
 mat*+ fund+ ( at lea/ #ae p]c5t ( grant
 am\nts provid$ "u ! program to ! c5t]4 
7v7 ,! record ( ! c5t] 9 develop+       

successful coop]ative organizations4    
7vi7 ,! ability ( ! c5t] to h a positive
 economic impact on an area ?r\gh job   
creation or ret5tion1 af=dable h\s+     
creation1 or weal? creation4  7vii7 ,su*
 o!r consid]ations z ! ,secret>y may    
consid] appropriate4  7#d7 ,failure to  
meet p]=mance t>gets ,if ! ,secret>y    
det]m9es t an entity aw>d$ funds "u !   
program has n met ! p]=mance t>gets     
e/abli%$ pursuant to subsection 7e71 is 
n mak+ reasonable progress t[>d meet+   
su* measures1 or is o!rwise 9 violation 
( a grant agreem5t ent]$ into pursuant  
to p>agraph 7#c77;,c7 ( ?is subsection1 
! ,secret>y may--  7,a7 )hold f9ancial  
assi/ance "u ?is ,act until ! p]=mance  
measures are met2 or  7,b7 9 ! case ( a 
grant made pursuant to p>agraph         
7#a77;,a71 t]m9ate ! grant agreem5t4    
7c7 ,o!r activities ,"u ! program1 !    
,secret>y %all--  7#a7 develop & provide
 te*nical assi/ance1 educational1 & o!r 
mat]ials to assi/ local coop]ative      
developm5t c5t]s t are receiv+ funds "u 

! program to develop coop]ative         
organizations2  7#b7 monitor & evaluate 
! p]=mance ( su* local c5t]s2  7#c7     
provide guidance1 in=mation on be/      
practices1 & te*nical assi/ance to      
communities seek+ to e/abli% coop]ative 
organizations2  7#d7 e/abli% !          
eligibility crit]ia = projects to be    
c>ri$ out us+ assi/ance provid$ "u ?is  
,act2 &  7#e7 develop program & report+ 
guidel9es4  7d7 ,p]=mance t>gets ,!     
,secret>y %all e/abli% p]=mance t>gets =
 ! program1 :i* %all include1 at a      
m9imum1 a requirem5t t a significant    
p]c5tage ( projects fund$ "u ! program  
%all involve coop]ative organizations t 
are wom5- or m9ority-own$4  #e4 ,reports
  7a7 ,by local coop]ative developm5t   
c5t]s & f9ancial in/itutions ,= ea*     
grant t a local coop]ative developm5t   
c5t] or f9ancial in/itution receives    
pursuant to section #d7;b77#a77;,a71 !  
local c5t] or in/itution %all submit to 
! ,secret>y1 n lat] ?an ! expiration ( !
 #ab-mon? p]iod aft] initial receipt (  

su* grant am\nts1 a report t includes-- 
7#a7 id5tification ( ! total am\nt ( su*
 grant am\nts t h be5 exp5d$2  7#b7 a   
description ( ! activities und]tak5 by  
su* local c5t] or in/itution ) su* grant
 am\nts2 &  7#c7 o!r in=mation z !      
,secret>y may require4  7b7 ,by !       
,secret>y ,n lat] ?an #c ye>s aft] !    
date ( ! enactm5t ( ?is ,act1 & annually
 !reaft] = ea* ye> assi/ance is provid$ 
"u ?is ,act1 ! ,secret>y %all submit to 
! ,congress a report t includes--  7#a7 
id5tification ( ! numb] ( coop]ative    
organizations creat$ us+ am\nts made    
available "u ?is ,act2  7#b7 be/        
practices f ! local coop]ative          
developm5t c5t]s t are aw>d$ grants "u  
?is ,act & ! economic b5efits to ! local
 communities t su* c5t]s s]ve result+ f 
su* use ( funds2  7#c7 an evaluation (  
compliance ) ! p]=mance t>gets e/abli%$ 
pursuant to section #d7;d72  7#d7 case  
/udies featur+ select coop]ative        
developm5t organizations t b5efitt$ f ! 
program2 &  7#e7 any additional         

in=mation1 includ+ /ati/ics1 t w\ld help
 promote future coop]ative developm5t4  
#f4 ,regulations ,n lat] ?an #ahj days  
aft] ! date ( ! enactm5t ( ?is ,act1 !  
,secret>y %all issue regulations        
necess>y to c>ry out ?is ,act4  #g4     
,au?orization ( appropriations ,!re are 
au?oriz$ to be appropriat$ to !         
,secret>y to c>ry out ! ,national       
,coop]ative ,developm5t ,program1 to    
rema9 available until exp5d$1           
#be1jjj1jjj = ea* ( fiscal ye>s #bjac   
?r\gh #bjag4