S. 539 — Introduced in Senate

II 118th CONGRESS 1st Session S. 539 IN THE SENATE OF THE UNITED STATES February 28, 2023Mr. Sullivan (for himself and Ms. Hirono) introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs A BILL To amend the Federal Credit Union Act to exclude extensions of credit made to veterans from the definition of a member business loan. 1. Short title This Act may be cited as the Veterans Member Business Loan Act. 2. Member business loan definition (a) In general Section 107A(c) of the Federal Credit Union Act (12 U.S.C. 1757a(c)) is amended— (1) in paragraph (1)(B)— (A) in clause (iv), by striking or at the end; (B) in clause (v), by striking the period at the end and inserting ; or; and (C) by adding at the end the following: (vi) made to a veteran; ; (2) in paragraph (2)(B)(ii), by striking and at the end; (3) in paragraph (3), by striking the period at the end and inserting ; and; and (4) by adding at the end the following: (4) the term veteran has the meaning given the term in section 101 of title 38, United States Code. . (b) Effective date The amendments made by subsection (a) shall take effect on the date that is 180 days after the date of enactment of this Act.