,i  #aaf? ,,congress  #b;d ,session  ,h4
 ,r4 #hdaj  ,,9 ,,! ,,h\se ,,(          
,,repres5tatives  ,septemb] #bi1        
#bjbj,mr4 ,b>r 7= himself1 ,mr4         
,riggleman1 & ,mr4 ,/iv]s7 introduc$ !  
foll[+ bill2 :i* 0 ref]r$ to !          
,committee on ,f9ancial ,s]vices  ,a    
,,bill  ,to require ! appropriate ,f$]al
 bank+ ag5cies to e/abli% a #c-ye>      
phase-9 p]iod = de novo f9ancial        
in/itutions to comply ) ,f$]al capital  
/&>ds1 to provide relief = de novo rural
 community banks1 & = o!r purposes4  #a4
 ,%ort title ,?is ,act may be cit$ z !  
,promot+ ,access to ,capital 9          
,und]bank$ ,communities ,act ( #bjbj4   
#b4 ,f9d+s ,! ,congress f9ds ! foll[+3  
7#a7 ,tr5ds 9 bank closures &           
consolidation h left _m communities )\t 
access to bank+ s]vices &               
disproportionately impact und]s]v$ rural
 & urban communities4  7#b7 ,de novo    
bank =mation has sl[$ significantly     
foll[+ ! f9ancial crisis4  7#c7 ,a      
,novemb] #bjai report by ! ,f$]al       

,res]ve ,sy/em f\nd t #dd c\nties 9 !   
,u4,s4 7 deeply affect$ by tr5ds 9 bank 
closures & consolidation 7i4e41 _h few] 
?an #aj bran*es 9 #bjab & lo/ at lea/   
#ej p]c5t ( !m by #bjag74  7#d7 #hi     
p]c5t ( ! deeply affect$ c\nties 7      
rural4  7#e7 ,rural c\nties deeply      
affect$ by bran* closures _h high]      
pov]ty rates1 l[] m$ian income1 & a     
high] %>e ( _! population 7 ,african    
,am]ican comp>$ to all rural            
communities4  #c4 ,phase-9 ( capital    
/&>ds ,! appropriate ,f$]al bank+       
ag5cies %all issue rules t provide = a  
#c-ye> phase-9 p]iod = a f9ancial       
in/itution to meet any ,f$]al capital   
requirem5ts t w\ld o!rwise be applicable
 to ! f9ancial in/itution1 :]e su*      
#c-ye> p]iod beg9s on ! date on :i* !   
deposit insurance t ! f9ancial          
in/itution has obta9$ f ! ,f$]al        
,deposit ,insurance ,corporation becomes
 effective4  #d4 ,*anges to bus9ess     
plans  7a7 ,9 g5]al ,dur+ ! #c-ye> p]iod
 beg9n+ on ! date on :i* ! deposit      

insurance t ! f9ancial in/itution has   
obta9$ f ! ,f$]al ,deposit ,insurance   
,corporation becomes effective1 a       
f9ancial in/itution may reque/ to       
deviate f a bus9ess plan t has be5      
approv$ by ! appropriate ,f$]al bank+   
ag5cy by submitt+ a reque/ to su* ag5cy 
pursuant to ?is section4  7b7 ,review ( 
*anges ,an appropriate ,f$]al bank+     
ag5cy %all1 n lat] ?an ! end ( !        
#cj-;day p]iod beg9n+ on ! receipt ( a  
reque/ "u subsection 7a7-- 7#a7 approve1
 conditionally approve1 or d5y su*      
reque/2 &  7#b7 notify ! f9ancial       
in/itution ( su* decision &1 if ! ag5cy 
d5ies ! reque/-- 7,a7 provide ! f9ancial
 in/itution ) ! reason = su* d5ial2 &   
7,b7 sugge/ *anges to ! reque/ t1 if    
adopt$1 w\ld all[ ! ag5cy to approve su*
 reque/4  7c7 ,result ( failure ,to act 
,if an appropriate ,f$]al bank+ ag5cy   
fails to approve or d5y a reque/ )9 !   
#cj-;day p]iod requir$ "u subsection    
7b71 su* reque/ %all be deem$ to be     
approv$4  #e4 ,rural community bank     

lev]age ratio  7a7 ,9 g5]al ,dur+ !     
#c-ye> p]iod beg9n+ on ! date on :i* !  
deposit insurance t a rural community   
bank has obta9$ f ! ,f$]al ,deposit     
,insurance ,corporation becomes         
effective1 ! ,community ,bank ,lev]age  
,ratio = ! rural community bank %all be 
#h p]c5t4  7b7 ,phase-,9 au?ority ,!    
,f$]al bank+ ag5cies %all issue rules to
 phase-9 ! ,community ,bank ,lev]age    
,ratio describ$ "u subsection 7a7 )     
respect to a rural community bank by    
sett+ l[] ,community ,bank ,lev]age     
,ratio p]c5tages dur+ ! fir/ #b ye>s ( !
 #c-ye> p]iod describ$ "u subsection    
7a74  7c7 ,def9itions ,9 ?is section3   
7#a7 ,community ,bank ,lev]age ,ratio ,!
 t]m ,community ,bank ,lev]age ,ratio   
has ! mean+ giv5 t t]m "u section       
#bja7;a7 ( ! ,economic ,gr[?1           
,regulatory ,relief1 & ,consum]         
,protection ,act 7#ab ,u4,s4,c4 #ecga   
note74  7#b7 ,f$]al bank+ ag5cy ,! t]m  
,f$]al bank+ ag5cy has ! mean+ giv5 t   
t]m "u section #c ( ! ,f$]al ,deposit   

,insurance ,act 7#ab ,u4,s4,c4 #ahac74  
7#c7 ,rural community bank ,! t]m rural 
community bank means a f9ancial         
in/itution-- 7,a7 ) total consolidat$   
assets ( less ?an #aj1jjj1jjj1jjj2 &    
7,b7 locat$ 9 a rural area1 z def9$ "u  
section #ajbf4ce7;b77iv77,a7 ( title    
#ab1 ,code ( ,f$]al ,regulations4  #f4  
,agricultural loan au?ority = ,f$]al    
sav+s associations ,section #e7;c7 ( !  
,home ,own]s' ,loan ,act 7#ab ,u4,s4,c4 
#adfd7;c77 is am5d$-- 7#a7 9 p>agraph   
7#a71 by add+ at ! end ! foll[+3  7,v7  
,agricultural loans ,secur$ or unsecur$ 
loans = agricultural purposes4  2 &     
7#b7 9 p>agraph 7#b77;,a71 by /rik+     
bus9ess1 or agricultural & ins]t+ or    
bus9ess4  #g4 ,/udy on de novo f9ancial 
in/itution  7a7 ,/udy ,! appropriate    
,f$]al bank+ ag5cies %all1 jo9tly1 c>ry 
out a /udy on-- 7#a7 ! pr9cipal causes =
 ! l[ numb] ( de novo f9ancial          
in/itutions 9 ! #aj-ye> p]iod end+ on ! 
date ( enactm5t ( ?is ,act2 &  7#b7 ways
 to promote m de novo f9ancial          

in/itutions 9 areas curr5tly und]s]v$ by
 f9ancial in/itutions4  7b7 ,report to  
,congress ,n lat] ?an ! end ( ! #a-ye>  
p]iod beg9n+ on ! date ( enactm5t ( ?is 
,act1 ! appropriate ,f$]al bank+ ag5cies
 %all1 jo9tly1 issue a report to        
,congress conta9+ all f9d+s &           
det]m9ations made 9 c>ry+ out ! /udy    
requir$ "u subsection 7a74  #h4         
,def9itions ,9 ?is ,act3 7#a7 ,f9ancial 
in/itution ,! t]m f9ancial in/itution   
means a depository in/itution or        
depository in/itution hold+ company4    
7#b7 ,o!r bank+ t]ms ,! t]ms appropriate
 ,f$]al bank+ ag5cy1 depository         
in/itution1 & depository in/itution     
hold+ company h ! mean+ giv5 ^? t]ms1   
respectively1 "u section #c ( ! ,f$]al  
,deposit ,insurance ,act4