Small Business and Community Investments Expansion Act of 2013

The Small Business and Community Investments Expansion Act of 2013 - Amends the Federal Home Loan Bank Act to authorize Federal Home Loan Banks to make long-term secured advances to their members to provide funds to community development financial institutions.

Requires a Bank, at the time of origination or renewal of a loan or advance, to obtain and maintain a security interest in collateral eligible pursuant to any secured loan for any community development financial institution.

[Congressional Bills 113th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3656 Introduced in House (IH)]

113th CONGRESS
  1st Session
                                H. R. 3656

   To amend the Federal Home Loan Bank Act to expand the purposes of 
 advances and collateral available to community development financial 
                             institutions.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            December 5, 2013

 Mr. Ellison (for himself, Mr. Stivers, Mrs. Carolyn B. Maloney of New 
    York, and Mr. Delaney) introduced the following bill; which was 
            referred to the Committee on Financial Services

_______________________________________________________________________

                                 A BILL


 
   To amend the Federal Home Loan Bank Act to expand the purposes of 
 advances and collateral available to community development financial 
                             institutions.

    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 ``The Small Business and Community 
Investments Expansion Act of 2013''.

SEC. 2. EXPANDING THE PURPOSES OF ADVANCES AND COLLATERAL AVAILABLE TO 
              COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS.

    Section 10(a) of the Federal Home Loan Bank Act (12 U.S.C. 1430(a)) 
is amended--
            (1) in paragraph (2)(B), by inserting ``or community 
        development financial institution (as defined in section 103 of 
        the Riegle Community Development and Regulatory Improvement Act 
        of 1994 (12 U.S.C. 4702))'' after ``community financial 
        institution''; and
            (2) in paragraph (3)(E), by inserting ``or community 
        development financial institution (as defined in section 103 of 
        the Riegle Community Development and Regulatory Improvement Act 
        of 1994 (12 U.S.C. 4702))'' after ``community financial 
        institution''.
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