S.Amdt. 5008

SA 5008. Mr. CHAMBLISS (for himself and Mr. Corker) 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:

On page 407, strike lines 17 through 25, and insert the following:

(B) Other definitions relating to loan originator.--For purposes of this section, an individual shall be considered to be an employee of a depository institution or a majority-owned depository institution, regardless of how his or her compensation is reported, if the--

(i) individual acts as a loan originator only for that institution;

(ii) institution takes supervisory and financial responsibility for the individual's regulated activities on behalf of the institution; and

(iii) individual's activities are subject to oversight and regulation by a Federal banking agency.