S. 1907 — Introduced in Senate

II 113th CONGRESS 2d Session S. 1907 IN THE SENATE OF THE UNITED STATES January 9, 2014Mr. Kirk (for himself, Mr. Crapo, Mr. Moran, Mr. Toomey, Mr. Barrasso, Mr. Enzi, and Mr. Wicker) introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs A BILL To amend a provision of the Bank Holding Company Act of 1956 regarding prohibitions on investments in certain funds to clarify that such provision shall not be construed to require the divestiture of certain collateralized debt obligations backed by trust-preferred securities or debt securities of collateralized loan obligations. 1. Short title This Act may be cited as the Fairness for Community Job Creators Act. 2. Rule of construction relating to debt instruments Section 13 of the Bank Holding Company Act of 1956 (12 U.S.C. 1851) is amended by adding at the end the following new subsection: (i) Rule of construction Nothing in this section shall be construed to require the divestiture of any collateralized debt obligations backed by trust-preferred securities or debt securities of collateralized loan obligations, if such collateralized debt obligations or collateralized loan obligations were issued before December 10, 2013. .