Section 1 Short title
This Act may be cited as the “Small Business and Community Investments Expansion Act of 2017”.
Small Business and Community Investments Expansion Act of 2017
A BILL
To amend the Federal Home Loan Bank Act to expand the purposes of advances and collateral available to community development financial institutions.
Sec. 2 Expanding the purposes of advances and collateral available to community development financial institutions
Section 10(a) of the Federal Home Loan Bank Act (12 U.S.C. 1430(a)) is amended—
in paragraph (2)(B), by inserting “or community development financial institution (as defined in section 103 of the Riegle Community Development and Regulatory Improvement Act of 1994 (12 U.S.C. 4702))” after “community financial institution”; and
in paragraph (3)(E), by inserting “or community development financial institution (as defined in section 103 of the Riegle Community Development and Regulatory Improvement Act of 1994 (12 U.S.C. 4702))” after “community financial institution”.