S.Amdt. 4994

SA 4994. Mr. BROWN submitted an amendment intended to be proposed by him to the bill H.R. 3221, moving the United States toward greater energy independence and security, developing innovative new technologies, reducing carbon emissions, creating green jobs, protecting consumers, increasing clean renewable energy production, and modernizing our energy infrastructure, and to amend the Internal Revenue Code of 1986 to provide tax incentives for the production of renewable energy and energy conservation; which was ordered to lie on the table; as follows:

At the appropriate place, insert the following:

SEC. __. TREATMENT OF NATIONAL COOPERATIVE BANK SUBSIDIARY AS CDFI.

Section 211 of the National Consumer Cooperative Bank Act (12 U.S.C. 3051) is amended--

(1) by redesignating subsection (e) as subsection (f); and

(2) by inserting after subsection (d) the following:

“(e) Treatment as CDFI.--Notwithstanding any other provision of law, the nonprofit corporation established under this section shall be deemed to be a community development financial institution for purposes of the Community Development Banking and Financial Institutions Act of 1994 (12 U.S.C. 4701 et seq.).”.