H.R. 2570

Credit Availability for Women-Owned Businesses Act of 2005

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I

109th CONGRESS

1st Session

H. R. 2570

IN THE HOUSE OF REPRESENTATIVES

May 24, 2005

Mr. Andrews introduced the following bill; which was referred to the Committee on Financial Services

A BILL

To amend the Federal Deposit Insurance Corporation Improvement Act of 1991 to provide for the collection of data on the availability of credit for women-owned business.

1.

Short title

This Act may be cited as the Credit Availability for Women-Owned Businesses Act of 2005.

2.

Collection of data

(a)

In general

Subsections (a) and (b) of section 122 of the Federal Deposit Insurance Corporation Improvement Act of 1991 (12 U.S.C. 1817 nt.) are each amended by inserting , women-owned businesses, after small businesses.

(b)

Women-owned businesses defined

Section 122 of the Federal Deposit Insurance Corporation Improvement Act of 1991 (12 U.S.C. 1817 nt.) is amended by adding at the end the following new subsection:

(d)

Women-owned business defined

The term women-owned business means any business—

(1)

more than 50 percent of the outstanding shares of which are held by 1 or more women; and

(2)

a majority of the directors on the board of directors of which are women.

.

(c)

Technical and conforming amendments

Paragraphs (1) and (2) of section 122(c) of the Federal Deposit Insurance Corporation Improvement Act of 1991 (12 U.S.C. 1817 nt.) are each amended by inserting and women-owned businesses before the period at the end of each such paragraph.