Depository Institution Community Development Investments Enhancement Act

Summary

Depository Institution Community Development Investments Enhancement Act - Amends the Home Owners' Loan Act to revise requirements for community development investments by federal savings associations. Authorizes a federal savings association to make investments, directly or indirectly, each of which is designed primarily to promote the public welfare, including the welfare of low- and moderate-income communities or families through the provision of housing, services, and jobs (community development investments). Permits such investments to be made directly or by purchase of interests in an entity primarily engaged in making such investments. Prohibits a federal savings association from making an investment which would subject it to unlimited liability to any person. Requires the Director of the Office of Thrift Supervision to establish: (1) the amount any savings association may invest in any one project; and (2) the aggregate amount of investment of any savings association. Restricts the aggregate amount of investment of any savings association, subject to specified determinations made by the Director. Prohibits the maximum aggregate amount of investments of any savings association from exceeding the same 15% of its capital stock actually paid in and unimpaired and 15% of its unimpaired surplus as imposed by this Act on national banking associations and state member banks.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 15 February 2007

   Introduced

   Referred to the House Committee on Financial Services.

   Source: IntroReferral

2. 15 February 2007

   Introduced

   Introduced in House

   Source: IntroReferral

3. 15 February 2007

   Introduced

   Introduced in House

   Source: IntroReferral

4. 27 February 2007

   Passed

   Motion to reconsider laid on the table Agreed to without objection.

   Source: Floor

5. 27 February 2007

   Passed

   On motion to suspend the rules and pass the bill Agreed to by voice vote. (text: CR H1905)

   Source: Floor

6. 27 February 2007

   Passed

   Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by voice vote.(text: CR H1905)

   Source: Floor

7. 27 February 2007

   Floor

   DEBATE - The House proceeded with forty minutes of debate on H.R. 1066.

   Source: Floor

8. 27 February 2007

   Floor

   Considered under suspension of the rules. (consideration: CR H1905-1906)

   Source: Floor

9. 27 February 2007

   Floor

   Mr. Frank (MA) moved to suspend the rules and pass the bill.

   Source: Floor

10. 28 February 2007

    Introduced

    Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

    Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Referred in Senate · 28 February 2007 · Official file
• Engrossed in House · 27 February 2007 · Official file
• Introduced in House · 15 February 2007 · Official file

Documents

8 official files

• Referred in Senate (text)

  Referred in Senate · EN · 28 February 2007

  ViewDownloadOpen at official source

• Referred in Senate (PDF)

  Referred in Senate · EN · 28 February 2007

  ViewDownloadOpen at official source

• Engrossed in House (text)

  Engrossed in House · EN · 27 February 2007

  ViewDownloadOpen at official source

• Engrossed in House (PDF)

  Engrossed in House · EN · 27 February 2007

  ViewDownloadOpen at official source

• Passed House without amendment

  summary · EN · 27 February 2007

  Open at official source

• Introduced in House (text)

  Introduced in House · EN · 15 February 2007

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 15 February 2007

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 15 February 2007

  Open at official source

Sponsors

• Rep. Frank, Barney [D-MA-4] · D · Sponsor
• Rep. Bachus, Spencer [R-AL-6] · R · Sponsor
• · ssbk00 · Standing
• · hsba00 · Standing

Related records

• related to ← Depository Institution Community Development Investments Enhancement Act