,i  #aai? ,,congress  #a/ ,session  ,h4 
,r4 #dgh  ,,9 ,,! ,,h\se ,,(            
,,repres5tatives  ,janu>y #af1 #bjbe,mr4
 ,b>r 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+ ,new ,bank        
,=mation ,act4  #b4 ,phase-9 ( capital  
/&>ds ,! ,f$]al bank+ ag5cies %all issue
 rules t provide = a #c-ye> phase-9     
p]iod = a depository in/itution or      
depository in/itution hold+ company to  
meet any ,f$]al capital requirem5ts t   
w\ld o!rwise be applicable to !         
depository in/itution or depository     
in/itution hold+ company1 beg9n+ on--   
7#a7 ! date on :i* ! depository         
in/itution became an insur$ depository  
in/itution2 or  7#b7 9 ! case ( a       

depository in/itution hold+ company1 !  
date on :i* ! depository in/itution     
subsidi>y ( ! depository in/itution     
hold+ company became an insur$          
depository in/itution4  #c4 ,*anges to  
bus9ess plans  7a7 ,9 g5]al ,dur+ !     
#c-ye> p]iod beg9n+ on ! date on :i* a  
depository in/itution became an insur$  
depository in/itution1 ! insur$         
depository in/itution or its depository 
in/itution hold+ company 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 ! applicant ( su*
 decision &1 if ! ag5cy d5ies ! reque/--
 7,a7 provide ! applicant ) ! 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$4  #d4 ,rural        
community depository in/itution lev]age 
ratio  7a7 ,9 g5]al ,dur+ ! #c-ye> p]iod
 beg9n+ on ! date on :i* a rural        
depository in/itution became an insur$  
depository in/itution1 ! ,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 depository in/itution 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 ,rural     
depository in/itution ,! t]m rural      
depository in/itution means a depository
 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$]al ,regulations4  #e4  
,agricultural loan au?ority = ,f$]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  #f4 ,/udy on de novo insur$   
depository in/itutions  7a7 ,/udy ,!    
,f$]al bank+ ag5cies %all1 jo9tly1 c>ry 
out a /udy on-- 7#a7 ! pr9cipal causes =
 ! l[ numb] ( de novo insur$ depository 
in/itutions 9 ! #aj-ye> p]iod end+ on ! 

date ( enactm5t ( ?is ,act2 &  7#b7 ways
 to promote m de novo insur$ depository 
in/itutions 9 areas curr5tly und]s]v$ by
 insur$ depository in/itutions4  7b7    
,report to ,congress ,n lat] ?an ! end (
 ! #a-ye> p]iod beg9n+ on ! date (      
enactm5t ( ?is ,act1 ! ,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  #g4         
,def9itions ,9 ?is ,act1 ! t]ms         
appropriate ,f$]al bank+ ag5cy1         
depository in/itution1 depository       
in/itution hold+ company1 ,f$]al bank+  
ag5cy1 & insur$ depository in/itution h 
! mean+ giv5 ^? t]ms1 respectively1 "u  
section #c ( ! ,f$]al ,deposit          
,insurance ,act4