Stop Loans Offered to illegal Aliens Now (Stop LOAN) Act

Stop Loans Offered to Illegal Aliens Now (Stop LOAN) Act - Prohibits loans by federal agencies to illegal aliens.

Requires a federal agency to use the employment verification system established under the Illegal Immigration Reform and Immigrant Responsibility Act of 1996 (or any successor program) to verify an individual's name, date of birth, social security number, and lawful presence before extending a loan.

[Congressional Bills 109th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4580 Introduced in House (IH)]







109th CONGRESS
  1st Session
                                H. R. 4580

  To prohibit loans by Federal agencies to aliens who are unlawfully 
                     present in the United States.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                           December 16, 2005

 Ms. Foxx (for herself, Mrs. Myrick, Mr. Jones of North Carolina, Mr. 
Gary G. Miller of California, Mr. Doolittle, Mr. Weldon of Florida, Mr. 
Wamp, Mr. King of Iowa, Mr. Westmoreland, Mr. Rohrabacher, Mr. Garrett 
 of New Jersey, Mr. Gingrey, Mr. Burgess, Mr. Tancredo, Mr. Franks of 
 Arizona, Mr. Cantor, Mr. Kline, Mr. Daniel E. Lungren of California, 
    Mr. Feeney, Mr. Sodrel, Mr. Coble, and Ms. Ginny Brown-Waite of 
   Florida) introduced the following bill; which was referred to the 
                    Committee on Financial Services

_______________________________________________________________________

                                 A BILL


 
  To prohibit loans by Federal agencies to aliens who are unlawfully 
                     present in the United States.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Stop Loans Offered to illegal Aliens 
Now (Stop LOAN) Act''.

SEC. 2. PROHIBITION ON LOANS BY FEDERAL AGENCIES TO ALIENS UNLAWFULLY 
              PRESENT IN THE UNITED STATES.

    (a) Prohibition.--The head of a Federal agency may not extend 
credit to any alien who is unlawfully present in the United States.
    (b) Verification Required.--
            (1) In general.--Before extending credit to any individual, 
        the head of a Federal agency shall verify--
                    (A) the name, social security number, and date of 
                birth of the individual; and
                    (B) that the individual is lawfully present in the 
                United States.
            (2) Use of employment verification system.--For the purpose 
        of carrying out paragraph (1), the head of a Federal agency 
        shall use the employment verification system established under 
        the basic pilot program under section 403(a) of the Illegal 
        Immigration Reform and Immigrant Responsibility Act of 1996 or 
        any successor to such program as identified by the Secretary of 
        Homeland Security.
    (c) Credit.--For purposes of this section, the term ``credit'' has 
the same meaning as in section 103 of the Truth in Lending Act (15 
U.S.C. 1602).
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