,,ii  #aai? ,,congress  #a/ ,session    
,s4 #aac  ,,9 ,,! ,,s5ate ,,( ,,!       
,,unit$ ,,/ates  ,janu>y #af1 #bjbe,mrs4
 ,hyde-,smi? introduc$ ! foll[+ bill2   
:i* 0 read twice & ref]r$ to !          
,committee on ,bank+1 ,h\s+1 & ,urban   
,affairs  ,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 ,act ( #bjbe4  #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$]al       
,res]ve ,sy/em f\nd t #dd c\nties 9 !   
,unit$ ,/ates 7 deeply affect$ by tr5ds 

9 bank closures & consolidation1 mean+ t
 ! c\nties _h few] ?an #aj bran*es 9    
#bjab & lo/ n less ?an #ej p]c5t ( !m by
 #bjag4  7#d7 #hi p]c5t ( ! deeply      
affect$ c\nties describ$ 9 p>agraph 7#c7
 7 rural4  7#e7 ,rural c\nties deeply   
affect$ by bran* closures _h high]      
pov]ty rates & l[] m$ian incomes1 & a   
high] %>e ( _! population 7             
,african-,am]ican comp>$ to all rural   
communities4  #c4 ,def9itions ,9 ?is    
,act3 7#a7 ,appropriate ,f$]al bank+    
ag5cy2 depository in/itution2 depository
 in/itution hold+ company ,! t]ms       
appropriate ,f$]al bank+ ag5cy1         
depository in/itution1 & depository     
in/itution hold+ company h ! mean+s giv5
 ^? t]ms 9 section #c ( ! ,f$]al        
,deposit ,insurance ,act 7#ab ,u4,s4,c4 
#ahac74  7#b7 ,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#c7 ,f9ancial in/itution ,! t]m
 f9ancial in/itution means a depository 
in/itution or depository in/itution     
hold+ company4  7#d7 ,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$ 9 section           
#ajbf4ce7;b77#b77;iv77,a7 ( title #ab1  
,code ( ,f$]al ,regulations1 or any     
successor regulation4  #d4 ,phase-9 (   
capital /&>ds ,! appropriate ,f$]al     
bank+ ag5cies %all issue rules t provide
 = a #c-ye> phase-9 p]iod = a f9ancial  
in/itution to meet any ,f$]al capital   
requirem5ts t w\ld o!rwise be applicable
 to ! f9ancial in/itution1 :]e ! #c-ye> 
p]iod beg9s on ! date on :i* ! deposit  
insurance t ! f9ancial in/itution has   
obta9$ f ! ,f$]al ,deposit ,insurance   
,corporation becomes effective4  #e4    
,*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$]al    
bank+ ag5cy by submitt+ a reque/ to !   
ag5cy pursuant to ?is section4  7b7     
,review ( *anges ,an appropriate ,f$]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 ! reque/2
 &  7#b7 notify ! f9ancial in/itution ( 
! decision &1 if ! ag5cy d5ies !        
reque/-- 7,a7 provide ! f9ancial        
in/itution ) ! reason = ! d5ial2 &  7,b7
 sugge/ *anges to ! reque/ t1 if adopt$1
 w\ld all[ ! ag5cy to approve ! reque/4 
7c7 ,result ( failure ,to act ,if an    
appropriate ,f$]al bank+ ag5cy fails to 
approve or d5y a reque/ )9 ! #cj-;day   
p]iod requir$ "u subsection 7b71 !      
reque/ %all be deem$ to be approv$4  #f4
 ,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$]al ,deposit ,insurance ,corporation 
becomes effective1 ! ,community ,bank   
,lev]age ,ratio = ! rural community bank
 %all be #h p]c5t4  7b7 ,phase-,9       
au?ority ,! appropriate ,f$]al bank+    
ag5cies %all issue rules to phase-9 !   
,community ,bank ,lev]age ,ratio        
describ$ 9 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$ 9 subsection 7a74  #g4  
,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  #h4 ,/udy on de novo f9ancial 
in/itutions  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 #a ye> aft] ! 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