S.Amdt. 5055

SA 5055. Mrs. LINCOLN 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 end of title VI of division A, add the following:

SEC. 1606. CLARIFICATION OF SCOPE OF APPLICABLE RATE
PROVISION.

Section 44(f) of the Federal Deposit Insurance Act (12
U.S.C. 1831u(f)) is amended by adding at the end the
following new paragraphs:
``(3) Other persons.--In the case of any other person or
governmental or private entity in the State described in
paragraph (1)--
``(A) any provision of the constitution of that State that
establishes a maximum lawful annual interest rate, or
otherwise or limits the amount of interest, discount points,
finance charges, fees, or other charges that may be charged,
taken, paid, received, or reserved from time to time, until
judgment, thereby interfering in interstate commerce,

[[Page S6079]]

shall not apply to any loan, discount, or credit sale made,
or upon any bond, note, obligation, bill of exchange,
financing transaction, or other evidence of debt issued or
acquired by any other person or governmental or private
entity; and
``(B) such interest, discount points, finance charges,
fees, or other charges that may be charged, taken, paid,
received, or reserved from time to time, until judgment, in
any loan, discount, or credit sale made, or upon any bond,
note, obligation, bill of exchange, financing transaction, or
other evidence of debt issued to or acquired by any other
person or governmental or private entity may not exceed 17
percent per year.''.
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