To amend the Federal Credit Union Act to exclude extensions of credit made to veterans from the definition of a member business loan.

Amends the Federal Credit Union Act to exclude loans made to veterans from the definition of a "member business loan," thus excluding them from the limit on the total amount of member business loans a credit union may have outstanding.

[Congressional Bills 113th Congress]
[From the U.S. Government Publishing Office]
[H.R. 5061 Introduced in House (IH)]

113th CONGRESS
  2d Session
                                H. R. 5061

 To amend the Federal Credit Union Act to exclude extensions of credit 
    made to veterans from the definition of a member business loan.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             July 10, 2014

Mr. Miller of Florida introduced the following bill; which was referred 
                 to the Committee on Financial Services

_______________________________________________________________________

                                 A BILL


 
 To amend the Federal Credit Union Act to exclude extensions of credit 
    made to veterans from the definition of a member business loan.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. MEMBER BUSINESS LOAN DEFINITION.

    (a) In General.--Section 107A(c) of the Federal Credit Union Act 
(12 U.S.C. 1757a(c)) is amended--
            (1) in paragraph (1)(B)--
                    (A) in clause (iv), by striking ``or'' at the end;
                    (B) in clause (v), by striking the period and 
                inserting ``; or''; and
                    (C) by adding at the end the following:
                            ``(vi) made to a veteran;'';
            (2) in paragraph (2), by striking ``and'' at the end;
            (3) in paragraph (3), by striking the period and inserting 
        ``; and''; and
            (4) by adding at the end the following:
            ``(4) the term `veteran' has the meaning given such term 
        under section 101 of title 38, United States Code.''.
    (b) Effective Date.--The amendments made by subsection (a) shall 
take effect after the end of the 6-month period beginning on the date 
of the enactment of this Act.
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