,i  #aah? ,,congress  #b;d ,session  ,h4
 ,r4 #hicc  ,,9 ,,! ,,h\se ,,(          
,,repres5tatives  ,july #e1 #bjbd,mr4   
,gre5 ( ,texas 7= himself1 ,mrs4        
,beatty1 ,ms4 ,cl>ke ( ,new ,york1 ,ms4 
,tlaib1 ,ms4 ,g>cia ( ,texas1 ,mr4      
,jackson ( ,ill9ois1 ,ms4 ,lee (        
,cali=nia1 ,ms4 ,jackson ,lee1 ,mr4     
,evans1 & ,ms4 ,s*ak[sky7 introduc$ !   
foll[+ bill2 :i* 0 ref]r$ to !          
,committee on ,f9ancial ,s]vices  ,a    
,,bill  ,to am5d ! ,securities ,act (   
#aicc to require cov]$ issu]s to c>ry   
out a racial equity audit e #b ye>s1 to 
require atonem5t = ! desc5dants (       
enslav$ p]sons1 & = o!r purposes4  #a4  
,%ort title ,?is ,act may be cit$ z !   
,orig9al ,securities & ,ex*ange         
,atonem5t ,act ( #bjbd 4  #b4 ,racial   
equity audit  7a7 ,9 g5]al ,!           
,securities ,act ( #aicc is am5d$ by    
ins]t+ aft] section #d;,a 7#ae ,u4,s4,c4
 #gg;d-#a7 ! foll[+3  #d;,b4 ,racial    
equity audit  7a7 ,9 g5]al ,n lat] ?an !
 end ( ! #f-mon? p]iod beg9n+ on ! date 

( enactm5t ( ?is section1 & e #b ye>s   
!reaft]1 ea* cov]$ issu] %all-- 7#a7    
conduct an indep5d5t audit to assess )9 
ea* l9e ( bus9ess-- 7,a7 ! issu]'s      
policies & practices on civil rights1   
equity1 div]sity1 & inclusion2  7,b7 h[ 
su* policies & practices affect !       
issu]'s bus9ess2 &  7,c7 :e!r ! issu]1  
any pr$ecessor in/itution ( ! issu]1 or 
any affiliate ( ! issu] _h direct or    
indirect ties to or pr(it$ f !          
in/itution ( slav]y2  7#b7 issue a      
report to ! ,commission conta9+-- 7,a7 9
 ! case (-- 7i7 ! initial report or any 
subsequ5t report = :i* ! cov]$ issu]    
det]m9es mat]ial *anges h occurr$ s9ce !
 previ\s report1 all f9d+s &            
det]m9ations made 9 c>ry+ out !         
assessm5ts requir$ "u p>agraph 7#a72 or 
7ii7 a subsequ5t report = :i* ! cov]$   
issu] det]m9es no mat]ial *anges h      
occurr$ s9ce ! previ\s report1 an       
atte/ation t no mat]ial *anges 7 f\nd "u
 ! assessm5ts requir$ "u p>agraph 7#a72 
7,b7 to ! ext5t ! issu] id5tifies ties  

to or pr(its f ! in/itution ( slav]y1 a 
disclosure ( ! /eps ! issu] has tak5 to 
reconcile su* ties or pr(its2 &  7,c7 to
 ! ext5t ! issu] id5tifies ties to or   
pr(its f ! in/itution ( slav]y & has n  
tak5 /eps to reconcile su* ties or      
pr(its1 a disclosure ( ! /eps to        
reconcile su* ties or pr(its ! issu]    
plans to take1 :i* may include-- 7i7    
/>tup capital & fund$ sav+s programs 9  
l[ to mod]ate income communities = l[ to
 mod]ate income individuals resid+ 9 su*
 communities2  7ii7 grants or           
contributions to hi/orically black      
colleges & univ]sities2 &  7iii7 grants 
or contributions to hi/orically black   
organizations exempt f taxation z       
describ$ 9 p>agraph 7#c7 or 7#d7 section
 #eja7;c7 ( ! ,int]nal ,rev5ue ,code (  
#aihf & exempt f taxation "u section    
#eja7;a7 ( su* ,code2 &  7#c7 make !    
report describ$ "u p>agraph 7#b7        
available to ! public1 includ+ on a     
website ( ! issu] & a website ( !       
,commission4  7b7 ,failure ,to issue    

report  7#a7 ,en=cem5t by ,commission   
7,a7 ,cov]$ issu] f9es ,any cov]$ issu] 
t fails to issue a report requir$ "u    
subsection 7a77#b71 or t reports false1 
mislead+1 or inaccurate in=mation 9 su* 
a report1 %all be f9$ by ! ,commission 9
 an am\nt ( #bj1jjj p] day until !      
report is issu$1 or until ! report is   
correct$ to n be false1 mislead+1 or    
inaccurate1 z applicable4  7,b7         
,employee f9es ,any employee or (fic] ( 
a cov]$ issu] :o int5tionally fails to  
issue a report requir$ "u subsection    
7a77#b7 or t reports false1 mislead+1 or
 inaccurate in=mation 9 su* report1 %all
 be f9$ by ! ,commission 9 an am\nt (   
#b1jjj p] day until ! report is issu$1  
or until ! report is correct$ to n be   
false1 mislead+1 or inaccurate1 z       
applicable4  7,c7 ,transf] ( am\nts ,!  
,commission %all transf]-- 7i7 #ej p]c5t
 ( ! f9es collect$ pursuant to          
subp>agraphs 7,a7 & 7,b7 to ! ,secret>y 
( ! ,treasury1 & ! ,secret>y ( !        
,treasury %all1 )\t fur!r appropriation1

 use su* funds to c>ry out ! duties ( ! 
,(fice ( ,m9ority ,l[ to ,mod]ate       
,income ,programs2 &  7ii7 #ej p]c5t ( !
 f9es collect$ pursuant to subp>agraphs 
7,a7 & 7,b7 to ! ,secret>y ( ,h\s+ &    
,urban ,developm5t1 & ! ,secret>y (     
,h\s+ & ,urban ,developm5t %all1 )\t    
fur!r appropriation1 use su* funds to   
c>ry out-- 7,i7 a program to provide    
h\s+ c\nsel+ & homebuy] assi/ance1      
includ+ d[npaym5ts1 clos+ co/s1 & int]e/
 rate buyd[ns1 to fir/-"t1 fir/-g5]ation
 m9ority l[ to mod]ate income homebuy]s2
  7,,ii7 eviction & =eclosure assi/ance 
to m9ority l[ to mod]ate income r5t]s & 
homebuy]s2  7,,iii7 af=dable h\s+       
production "u ! ,h\s+ ,tru/ ,fund       
e/abli%$ "u section #acch ( ! ,f$]al    
,h\s+ ,ent]prises ,f9ancial ,safety &   
,s\ndness act ( #aiib 7#ab ,u4,s4,c4    
#defh71 includ+ p]man5t supportive h\s+ 
= p exp]i5c+ homelessness2  7,,iv7 r5tal
 assi/ance to eligible l[ income        
h\seholds "u ! ,h\s+ ,*oice ,v\*]       
,program "u section #h7o7 ( ! ,unit$    

,/ates ,h\s+ ,act ( #aicg 7#db ,u4,s4,c4
 #adcg;f7o772 &  7,v7 =mula grants to   
p>ticipat+ jurisdictions to conduct     
,equity ,plans "u ! rule ( ! ,secret>y (
 ,h\s+ & ,urban ,developm5t implem5t+ ! 
requirem5t "u ! ,fair ,h\s+ ,act 7#db   
,u4,s4,c4 #cfja7 to affirmatively fur!r 
fair h\s+4  7#b7 ,private "r ( action ,a
 p]son t holds ! securities ( a cov]$   
issu] & suff]s h>m z a result ( !       
failure ( su* cov]$ issu] to issue a    
report requir$ "u subsection 7a77#b71   
may br+ an action aga9/ ! cov]$ issu] 9 
! appropriate di/rict c\rt ( ! ,unit$   
,/ates4  7#c7 ,:i/lebl[] aw>ds  7,a7 ,9 
g5]al ,! ,commission %all pay an aw>d or
 aw>ds to #a or m individuals :o        
volunt>ily provid$ orig9al in=mation to 
! ,commission t l$ to ! successful      
en=cem5t ( ! f9es requir$ "u subp>agraph
 7,a7 or 7,b7 ( p>agraph 7#a7 9 ! case (
 ! failure ( a cov]$ issu] to issue a   
report requir$ "u subsection 7a77#b7 or 
t reports false1 mislead+1 or inaccurate
 in=mation 9 su* a report4  7,b7 ,am\nt 

,! am\nt ( an aw>d "u subp>agraph 7,a7  
%all-- 7i7 be e/abli%$ by ! ,commission 
by rule 9 an am\nt t ! ,commission      
det]m9es is suffici5t to create inc5tive
 = individuals to volunt>ily provide    
orig9al in=mation & det] noncompliance )
 subsection 7a72 &  7ii7 n be less ?an  
#bj1jjj4  7,c7 ,orig9al in=mation def9$ 
,9 ?is p>agraph1 ! t]m orig9al in=mation
 means in=mation t-- 7i7 is d]iv$ f !   
indep5d5t k or analysis ( an individual 
:o volunt>ily provides ! in=mation to ! 
,commission2  7ii7 is n kn[n to !       
,commission f any o!r s\rce1 unless !   
:i/lebl[] is ! orig9al s\rce ( !        
in=mation2 &  7iii7 is n exclusively    
d]iv$ f an allegation made 9 a judicial 
or adm9i/rative he>+1 9 a gov]nm5tal    
report1 he>+1 audit1 or inve/igation1 or
 f ! news m$ia1 unless ! :i/lebl[] is a 
s\rce ( ! in=mation4  7c7 ,def9itions ,9
 ?is section3 7#a7 ,area m$ian income ,)
 respect to an individual1 ! t]m area   
m$ian income means ! m$ian income = !   
area 9 :i* ! individual lives1 z det]m9$

 by ! ,secret>y ( ,h\s+ & ,urban        
,developm5t = purposes ( ! ,unit$ ,/ates
 ,h\s+ ,act ( #aicg 7#db ,u4,s4,c4 #adcg
 et seq474  7#b7 ,cov]$ issu] ,! t]m    
cov]$ issu] means an issu] t-- 7,a7     
makes use ( ! mails or any means or     
in/rum5tality ( int]/ate comm]ce2 &     
7,b7 has-- 7i7 m ?an #ajj employees2 or 
7ii7 a capitalization ( great] ?an or   
equal to #cjj1jjj1jjj4  7#c7 ,l[ to     
mod]ate income ,) respect to an         
individual1 ! t]m l[ to mod]ate income  
means ! individual has e>n+s ( less ?an 
#hj p]c5t ( ! area m$ian income4  7#d7  
,m9ority ,! t]m m9ority means racial &  
e?nic populations t are und]repres5t$ 9 
! g5]al population relative to ! numb] (
 p]sons 9 ! total population4  7#e7     
,reconcile ,! t]m reconcile means to    
acc\nt = & balance 9 an equitable mann]4
  4  7b7 ,(fice ( ,m9ority ,l[ to       
,mod]ate ,income ,programs ,*apt] #c (  
title #ca1 ,unit$ ,/ates ,code1 is      
am5d$-- 7#a7 9 sub*apt] ,i1 by add+ at !
 end ! foll[+3  #cag4 ,(fice ( ,m9ority 

,l[ to ,mod]ate ,income ,programs  7a7  
,e/abli%m5t ,!re is e/abli%$1 )9 !      
,dep>tm5t ( ! ,treasury1 an ,(fice (    
,m9ority ,l[ to ,mod]ate ,income        
,programs4  7b7 ,duties ,! ,(fice (     
,m9ority ,l[ to ,mod]ate ,income        
,programs %all provide grants =-- 7#a7  
/>tup capital & fund$ sav+s programs 9  
l[ to mod]ate income m9ority communities
 = l[ to mod]ate income m9ority         
individuals resid+ 9 su* communities2 & 
7#b7 su* o!r programs det]m9$           
appropriate by ! ,secret>y 9 fur!rance (
 atonem5t = desc5dants ( enslav$ p]sons4
  7c7 ,fund+  7#a7 ,au?orization (      
appropriations ,!re is au?oriz$ to be   
appropriat$ to ! ,secret>y ( ! ,treasury
 #c1jjj1jjj1jjj to c>ry out ?is section4
  7#b7 ,adm9i/rative co/s ,! ,secret>y (
 ! ,treasury may use #b p]c5t ( am\nts  
appropriat$ to c>ry out ?is section =   
adm9i/rative exp5ses relat$ to c>ry+ out
 ! duties ( ! ,(fice ( ,m9ority ,l[ to  
,mod]ate ,income ,programs4  7d7        
,def9itions ,9 ?is section3 7#a7 ,area  

m$ian income ,) respect to a community1 
! t]m area m$ian income means ! m$ian   
income = ! area 9 :i* ! community is    
locat$1 z det]m9$ by ! ,secret>y ( ,h\s+
 & ,urban ,developm5t = purposes ( !    
,unit$ ,/ates ,h\s+ ,act ( #aicg 7#db   
,u4,s4,c4 #adcg et seq474  7#b7 ,l[ to  
mod]ate income community ,! t]m l[ to   
mod]ate income community means a c5sus  
tract 9 :i* #ea p]c5t or m ( ! h\seholds
 locat$ 9 ! c5sus tract e>n less ?an #hj
 p]c5t ( ! area m$ian income4  2 &  7#b7
 9 ! table ( cont5ts = su* *apt]1 by    
ins]t+ aft] ! item relat+ to section    
#caf ! foll[+3  #cag4 ,(fice ( ,m9ority 
,l[ to ,mod]ate ,income ,programs4  4