,,ii  #aac? ,,congress  #a/ ,session    
,s4 #ifh  ,,9 ,,! ,,s5ate ,,( ,,!       
,,unit$ ,,/ates  ,may #af1 #bjac ,mr4   
,udall ( ,colorado 7= himself1 ,mr4     
,paul1 ,ms4 ,coll9s1 ,mr4 ,begi*1 ,mrs4 
,box]1 ,mr4 ,br[n1 ,mrs4 ,gillibr&1 ,mr4
 ,leahy1 ,mr4 ,nelson1 ,mr4 ,re$1 ,mr4  
,s&]s1 ,mr4 ,s*um]1 ,mr4 ,:iteh\se1 ,mr4
 ,he9ri*1 & ,mr4 ,k+7 introduc$ ! foll[+
 bill2 :i* 0 read twice & ref]r$ to !   
,committee on ,bank+1 ,h\s+1 & ,urban   
,affairs  ,a ,,bill  ,to am5d ! ,f$]al  
,cr$it ,union ,act1 to advance ! ability
 ( cr$it unions to promote small bus9ess
 gr[? & economic developm5t             
opportunities1 & = o!r purposes4  #a4   
,%ort title2 def9itions  7a7 ,%ort title
 ,?is ,act may be cit$ z ! ,small       
,bus9ess ,l5d+ ,enhancem5t ,act ( #bjac4
  7b7 ,def9itions ,9 ?is ,act--  7#a7 ! 
t]m ,bo>d means ! ,national ,cr$it      
,union ,adm9i/ration ,bo>d2  7#b7 ! t]m 
insur$ cr$it union has ! same mean+ z 9 
section #aja ( ! ,f$]al ,cr$it ,union   
,act 7#ab ,u4,s4,c4 #ageb72  7#c7 ! t]m 

memb] bus9ess loan has ! same mean+ z 9 
section #ajg;,a7c77#a7 ( ! ,f$]al ,cr$it
 ,union ,act 7#ab ,u4,s4,c4             
#ageg;a7c77#a772  7#d7 ! t]m net wor?   
has ! same mean+ z 9 section            
#ajg;,a7c77#b7 ( ! ,f$]al ,cr$it ,union 
,act 7#ab ,u4,s4,c4 #ageg;a7c77#b772 &  
7#e7 ! t]m well capitaliz$ has ! same   
mean+ z 9 section #baf7;c77#a77;,a7 ( ! 
,f$]al ,cr$it ,union ,act 7#ab ,u4,s4,c4
 #agij;d7c77#a77;,a774  #b4 ,limits on  
,memb] ,bus9ess ,loans ,effective #f    
mon?s aft] ! date ( enactm5t ( ?is ,act1
 section #ajg;,a7a7 ( ! ,f$]al ,cr$it   
,union ,act 7#ab ,u4,s4,c4 #ageg;a7a77  
is am5d$ to read z foll[s3  7a7         
,limitation  7#a7 ,9 ,g5]al ,except z   
provid$ 9 p>agraph 7#b71 an insur$ cr$it
 union may n make any memb] bus9ess loan
 t w\ld result 9 ! total am\nt ( su*    
loans out/&+ at t cr$it union at any "o 
"t to be equal to m ?an ! less] (--     
7,a7 #a4ge times ! actual net wor? ( !  
cr$it union2 or  7,b7 #ab4be p]c5t ( !  
total assets ( ! cr$it union4  7#b7     

,additional ,au?ority ,! ,bo>d may      
approve an application by an insur$     
cr$it union ^u a f9d+ t ! cr$it union   
meets ! crit]ia "u ?is p>agraph to make 
#a or m memb] bus9ess loans t w\ld      
result 9 a total am\nt ( su* loans      
out/&+ at any "o "t ( n m ?an #bg4e     
p]c5t ( ! total assets ( ! cr$it union1 
if ! cr$it union--  7,a7 _h memb]       
bus9ess loans out/&+ at ! end ( ea* ( ! 
#d consecutive qu>t]s imm$iately prec$+ 
! date ( ! application1 9 a total am\nt 
( n less ?an #hj p]c5t ( ! applicable   
limitation "u p>agraph 7#a72  7,b7 is   
well capitaliz$1 z def9$ 9 section      
#baf7;c77#a77;,a72  7,c7 c demon/rate at
 lea/ #e ye>s ( exp]i5ce ( s\nd         
und]writ+ & s]vic+ ( memb] bus9ess      
loans2  7,d7 has ! requisite policies & 
exp]i5ce 9 manag+ memb] bus9ess loans2 &
  7,e7 has satisfi$ o!r /&>ds t ! ,bo>d 
det]m9es are necess>y to ma9ta9 ! safety
 & s\ndness ( ! insur$ cr$it union4     
7#c7 ,effect ( n be+ well capitaliz$ ,an
 insur$ cr$it union t has made memb]    

bus9ess loans "u an au?orization "u     
p>agraph 7#b7 & t is n1 z ( its mo/     
rec5t qu>t]ly call report1 well         
capitaliz$1 may n make any memb] bus9ess
 loans1 until su* "t z ! cr$it union    
becomes well capitaliz$ 7z def9$ 9      
section #baf7;c77#a77;,a771 z reflect$ 9
 a subsequ5t qu>t]ly call report1 &     
obta9s ! approval ( ! ,bo>d4  4  #c4    
,implem5tation  7a7 ,ti]$ approval      
process ,! ,bo>d %all develop a ti]$    
approval process1 "u :i* an insur$ cr$it
 union gradually increases ! am\nt (    
memb] bus9ess l5d+ 9 a mann] t is       
consi/5t ) safe & s\nd op]ations1       
subject to ! limits e/abli%$ "u section 
#ajg;,a7a77#b7 ( ! ,f$]al ,cr$it ,union 
,act 7#ab ,u4,s4,c4 #ageg;a7a77#b771 z  
am5d$ by ?is ,act4 ,! rate ( increase "u
 ! process e/abli%$ "u ?is p>agraph may 
n exce$ #cj p]c5t p] ye>4  7b7 ,rulemak+
 requir$ ,! ,bo>d %all issue propos$    
rules1 n lat] ?an #f mon?s aft] ! date (
 enactm5t ( ?is ,act1 to e/abli% ! ti]$ 
approval process requir$ "u subsection  

7a74 ,! ti]$ approval process %all      
e/abli% /&>ds design$ to ensure t ! new 
bus9ess l5d+ capacity au?oriz$ "u       
section #ajg;,a7a7 ( ! ,f$]al ,cr$it    
,union ,act 7#ab ,u4,s4,c4 #ageg;a7a771 
z am5d$ by ?is ,act1 is be+ us$ only by 
insur$ cr$it unions t are well-manag$ & 
well capitaliz$1 z requir$ "u section   
#ajg;,a7a7 ( ! ,f$]al ,cr$it ,union ,act
 7#ab ,u4,s4,c4 #ageg;a7a771 z am5d$ by 
?is ,act1 & z def9$ by ! rules issu$ by 
! ,bo>d "u ?is subsection4  7c7         
,consid]ations ,9 issu+ rules requir$ "u
 ?is section1 ! ,bo>d %all consid]--    
7#a7 ! exp]i5ce level ( ! in/itutions1  
includ+ a demon/rat$ hi/ory ( s\nd memb]
 bus9ess l5d+2  7#b7 ! crit]ia "u       
section #ajg;,a7a77#b7 ( ! ,f$]al ,cr$it
 ,union ,act 7#ab ,u4,s4,c4             
#ageg;a7a77#b771 z am5d$ by ?is ,act2 & 
7#c7 su* o!r factors z ! ,bo>d det]m9es 
necess>y or appropriate4  #d4 ,reports  
to ,congress on ,memb] ,bus9ess ,l5d+   
7a7 ,report ( ! ,bo>d  7#a7 ,9 ,g5]al ,n
 lat] ?an #c ye>s aft] ! date ( enactm5t

 ( ?is ,act1 ! ,bo>d %all submit a      
report to ,congress on memb] bus9ess    
l5d+ by insur$ cr$it unions4  7#b7      
,report ,! report requir$ "u p>agraph   
7#a7 %all include--  7,a7 ! types &     
asset size ( insur$ cr$it unions mak+   
memb] bus9ess loans & ! memb] bus9ess   
loan limitations applicable to ! insur$ 
cr$it unions2  7,b7 ! ov]all am\nt &    
av]age size ( memb] bus9ess loans by ea*
 insur$ cr$it union2  7,c7 ! ratio (    
memb] bus9ess loans by insur$ cr$it     
unions to total assets & net wor?2  7,d7
 ! p]=mance ( ! memb] bus9ess loans1    
includ+ del9qu5cies & net *>ge (fs2     
7,e7 ! effect ( ?is ,act & ! am5dm5ts   
made by ?is ,act on ! numb] ( insur$    
cr$it unions engag$ 9 memb] bus9ess     
l5d+1 any *ange 9 ! am\nt ( memb]       
bus9ess l5d+1 & ! ext5t to :i* any      
increase is attribut$ to ! *ange 9 !    
limitation 9 section #ajg;,a7a7 ( !     
,f$]al ,cr$it ,union ,act 7#ab ,u4,s4,c4
 #ageg;a7a771 z am5d$ by ?is ,act2  7,f7
 ! numb]1 types1 & asset size ( insur$  

cr$it unions t 7 d5i$ or approv$ by !   
,bo>d = increas$ memb] bus9ess loans "u 
section #ajg;,a7a77#b7 ( ! ,f$]al ,cr$it
 ,union ,act 7#ab ,u4,s4,c4             
#ageg;a7a77#b771 z am5d$ by ?is ,act1   
includ+ d5ials & approvals "u ! ti]$    
approval process2  7,g7 ! types & sizes 
( bus9esses t receive memb] bus9ess     
loans1 ! duration ( ! cr$it union       
memb]%ip ( ! bus9esses at ! "t ( ! loan1
 ! types ( collat]al us$ to secure memb]
 bus9ess loans1 & ! income level (      
memb]s receiv+ memb] bus9ess loans2 &   
7,h7 ! effect ( any increases 9 memb]   
bus9ess loans on ! risk to ! ,national  
,cr$it ,union ,%>e ,insurance ,fund & ! 
assessm5ts on insur$ cr$it unions4  7b7 
,,gao /udy & report  7#a7 ,/udy ,!      
,comptroll] ,g5]al ( ! ,unit$ ,/ates    
%all conduct a /udy on ! /atus ( memb]  
bus9ess l5d+ by insur$ cr$it unions1    
includ+--  7,a7 tr5ds 9 su* l5d+2  7,b7 
types & am\nts ( memb] bus9ess loans2   
7,c7 ! effectiv5ess ( ?is section 9     
enhanc+ small bus9ess l5d+2  7,d7       

recomm5dations = legislative action1 if 
any1 ) respect to su* l5d+2 &  7,e7 any 
o!r in=mation t ! ,comptroll] ,g5]al    
consid]s relevant ) respect to su* l5d+4
  7#b7 ,report ,n lat] ?an #c ye>s aft] 
! date ( enactm5t ( ?is ,act1 !         
,comptroll] ,g5]al %all submit a report 
to ,congress on ! /udy requir$ "u       
p>agraph 7#a74