S.Amdt. 4480
What it does: Inserts “and planned outreach efforts to women-owned businesses, veteran-owned businesses, and min…” before “, where appropriate”
Sen. Tom Udall (D-NM)What it changes
1 change to S.Amdt. 4402 · shown in S.Amdt. 4402's text
Inserts “and planned outreach efforts to women-owned businesses, veteran-owned businesses, and min…” before “, where appropriate”
InsertsPage 177, line 16In S.Amdt. 4402 as proposed
(D) Treatment of applicants that are institutions controlled by holding companies.--If an eligible institution that applies to receive a capital investment under the Program is under the control of a bank holding company or a savings and loan holding company, then the Secretary may use the Fund to purchase preferred stock or other financial instruments from the top-tier bank holding company or savings and loan holding company of such eligible institution, as applicable. For purposes of this subparagraph, the term "control" with respect to a bank holding company shall have the same meaning as in section 2(a)(2) of the Bank Holding Company Act of 1956 (12 U.S.C. 1841(2)(a)(2)). For purposes of this subparagraph, the term "control" with respect to a savings and loan holding company shall have the same meaning as in 10(a)(2) of the Home Owners' Loan Act (12 U.S.C. 1467a(a)(2)).
(E) Requirement to provide a small business lending plan.--At the time that an applicant submits an application to the Secretary for a capital investment under the Program, the applicant shall deliver to the appropriate Federal banking agency, and, for applicants that are State-chartered banks, to the appropriate State banking regulator, a small business lending plan describing how the applicant's business strategy and operating goals will allow it to address the needs of small businesses in the areas it serves, as well as a plan to provide linguistically and culturally appropriate [inserted: outreachand planned ]outreach
[struck: , ][inserted: efforts to women-owned businesses, veteran-owned businesses, and minority-owned businesses, ]where appropriate. In the case of eligible institutions that are community development loan funds, this plan shall be submitted to the Secretary. This plan shall be confidential supervisory information.(F) Treatment of applicants that are community development loan funds.--Eligible institutions that are community development loan funds may apply to receive a capital investment from the Fund in an amount not exceeding 5 percent of total assets, as reported in the audited financial statements for the fiscal year of the eligible institution that ends in calendar year 2009.
Original wording
On page 177, line 16, insert “and planned outreach efforts to women-owned businesses, veteran-owned businesses, and minority-owned businesses” before “, where appropriate”.
Read automatically from the Congressional Record. Check the original before relying on it.
As printed
SA 4480. Mr. UDALL of New Mexico submitted an amendment intended to be proposed to amendment SA 4402 proposed by Mr. Reid (for Mr. Baucus (for himself, Ms. Landrieu, and Mr. Reid)) to the bill H.R. 5297, to create the Small Business Lending Fund Program to direct the Secretary of the Treasury to make capital investments in eligible institutions in order to increase the availability of credit for small businesses, to amend the Internal Revenue Code of 1986 to provide tax incentives for small business job creation, and for other purposes; which was ordered to lie on the table; as follows:
On page 177, line 16, insert “and planned outreach efforts to women-owned businesses, veteran-owned businesses, and minority-owned businesses” before “, where appropriate”.
Legislative Activity
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Senate amendment submitted
July 15, 2010