Veterans Members Business Loan Act

[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2305 Introduced in House (IH)]

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116th CONGRESS
  1st Session
                                H. R. 2305

 To amend the Federal Credit Union Act to exclude extensions of credit 
    made to veterans from the definition of a member business loan.


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                    IN THE HOUSE OF REPRESENTATIVES

                             April 12, 2019

  Mr. Gonzalez of Texas (for himself, Mr. Cook, Ms. Gabbard, and Mr. 
    Young) introduced the following bill; which was referred to the 
                    Committee on Financial Services

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                                 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.

    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 ``Veterans Members Business Loan 
Act''.

SEC. 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 and 
                inserting ``; or''; and
                    (C) by adding at the end the following:
                            ``(vi) made to a veteran;'';
            (2) in paragraph (2), by striking ``and'' at the end;
            (3) in paragraph (3), by striking the period and inserting 
        ``; and''; and
            (4) by adding at the end the following:
            ``(4) the term `veteran' has the meaning given such term 
        under section 101 of title 38, United States Code.''.
    (b) Effective Date.--The amendments made by subsection (a) shall 
take effect after the end of the 6-month period beginning on the date 
of the enactment of this Act.
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