H.R. 704 — Introduced in House

I 115th CONGRESS 1st Session H. R. 704 IN THE HOUSE OF REPRESENTATIVES January 27, 2017Mr. 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. 1. Short title This Act may be cited as the Small Business and Community Investments Expansion Act of 2017. 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.