To amend the Federal Deposit Insurance Act with respect to the extension of certain limitations.

1. Adds SEC. __. EXTENSION OF LIMITATIONS wherever appropriate

   Adds a section

   Inserted: SEC. __. EXTENSION OF LIMITATIONS.

   Inserted: (a) In General.--Section 44(f)(1) of the Federal Deposit Insurance Act (12 U.S.C. 1831u(f)(1)) is amended--

   Inserted: (1) by redesignating subparagraphs (A) and (B) as clauses (i) and (ii), respectively, and moving the margins 2 ems to the right;

   Inserted: (2) by striking "evidence of debt by any insured" and inserting the following: "evidence of debt by--

   Inserted: "(A) any insured"; and

   Inserted: (3) by striking the period at the end and inserting the following: "; and

   Inserted: "(B) any nondepository institution operating in such State, shall be equal to not more than the greater of the State's maximum lawful annual percentage rate or 17 percent--

   Inserted: "(i) to facilitate the uniform implementation of federally mandated or federally established programs and financings related thereto, including--

   Inserted: "(I) uniform accessibility of student loans, including the issuance of qualified student loan bonds as set forth in section 144(b) of the Internal Revenue Code of 1986;

   Inserted: "(II) the uniform accessibility of mortgage loans, including the issuance of qualified mortgage bonds and qualified veterans' mortgage bonds as set forth in section 143 of such Code;

   Inserted: "(III) the uniform accessibility of safe and affordable housing programs administered or subject to review by the Department of Housing and Urban Development, including--

   Inserted: "(aa) the issuance of exempt facility bonds for qualified residential rental property as set forth in section 142(d) of such Code;

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   Inserted: "(bb) the issuance of low income housing tax credits as set forth in section 42 of such Code, to facilitate the uniform accessibility of provisions of the American Recovery and Reinvestment Act of 2009; and

   Inserted: "(cc) the issuance of bonds and obligations issued under that Act, to facilitate economic development, higher education, and improvements to infrastructure, and the issuance of bonds and obligations issued under any provision of law to further the same; and

   Inserted: "(ii) to facilitate interstate commerce generally, including consumer loans, in the case of any person or governmental entity (other than a depository institution subject to subparagraph (A) and paragraph (2)).".

   Inserted: (b) Effective Period.--The amendments made by subsection (a) shall apply with respect to contracts consummated during the period beginning on the date of enactment of this Act and ending on December 31, 2010.

   The amendment doesn't say where this goes; the clerk decides.

   Original wording

   At the appropriate place, insert the following:

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As printed