S.Amdt. 5013

SA 5013. Mr. TESTER (for himself and Mr. Enzi) submitted an amendment
intended to be proposed to amendment SA 4983 proposed by Mr. Reid (for
Mr. Dodd (for himself and Mr. Shelby)) 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 in title II of Division A, insert
the following:

SEC. 12_. INVESTMENT AUTHORITY TO SUPPORT RURAL
INFRASTRUCTURE.

Section 11 of the Federal Home Loan Bank Act (12 U.S.C.
1431) is amended by adding at the end the following:
``(l) Mission Investments for Rural Infrastructure.--In
furtherance of its mission under section 5, each Federal Home
Loan Bank is authorized to purchase investment grade
securities from nonmember cooperative lenders that have
received financing from the Federal Financing Bank and that
possess demonstrated experience in making loans to rural
cooperatives. Such securities shall be secured investments
collateralized by loans of the cooperative lender. The
purchase of such securities shall be at the sole discretion
of the Bank, consistent with such regulations, restrictions,
and limitations as may be prescribed by the Board.''.
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