Depository Institution Community Development Investments Enhancement Act
Latest action · Feb 28, 2007 Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedFeb 15, 2007
- Passed HouseFeb 27, 2007
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
(This measure has not been amended since it was introduced. The summary of that version is repeated here.)
Depository Institution Community Development Investments Enhancement Act - Amends the Home Owners' Loan Act to revise requirements for community development investments by federal savings associations.
Authorizes a federal savings association to make investments, directly or indirectly, each of which is designed primarily to promote the public welfare, including the welfare of low- and moderate-income communities or families through the provision of housing, services, and jobs (community development investments).
Permits such investments to be made directly or by purchase of interests in an entity primarily engaged in making such investments.
Prohibits a federal savings association from making an investment which would subject it to unlimited liability to any person.
Requires the Director of the Office of Thrift Supervision to establish: (1) the amount any savings association may invest in any one project; and (2) the aggregate amount of investment of any savings association.
Restricts the aggregate amount of investment of any savings association, subject to specified determinations made by the Director.
Prohibits the maximum aggregate amount of investments of any savings association from exceeding the same 15% of its capital stock actually paid in and unimpaired and 15% of its unimpaired surplus as imposed by this Act on national banking associations and state member banks.
Cosponsors 1
Members who signed on, in the order they did. All signed on Feb 15, 2007.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| R-AL | Spencer Bachus | Original | Feb 15, 2007 |
Committees 2
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| House | Financial Services Committee | Referred Feb 15, 2007 |
| Senate | Banking, Housing, and Urban Affairs Committee | Referred Feb 28, 2007 |
Actions 8
Everything that happened, newest first.
- Feb 28, 2007Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- Feb 27, 2007Mr. Frank (MA) moved to suspend the rules and pass the bill.
- Feb 27, 2007Considered under suspension of the rules. (consideration: CR H1905-1906)
- Feb 27, 2007DEBATE - The House proceeded with forty minutes of debate on H.R. 1066.
- Feb 27, 2007Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by voice vote. (text: CR H1905)
- Feb 27, 2007Motion to reconsider laid on the table Agreed to without objection.
- Feb 15, 2007Introduced in House
- Feb 15, 2007Referred to the House Committee on Financial Services.
In the Congressional Record 2
Days the Record’s own index lists this bill, newest first, with the pages and the members it names. Pages starting H are the House, S the Senate, E Extensions of Remarks.
| Where | In the Record | Members | Date |
|---|---|---|---|
| Extensions | Debate and remarks E588 | Charles B. Rangel D-NY | Mar 20, 2007 |
| House | Debate and remarks H1905, H1906Text printed H1905 | Barney Frank D-MA, Judy Biggert R-IL | Feb 27, 2007 |
Research
What has been written about this bill: committee reports, cost estimates, the sponsor’s authority statement, printed hearings and the Congressional Research Service’s work.
Printed hearings 1
Hearings whose printed record names this bill, newest first: hearings on it, and wider hearings where it came up.
| Number | Hearing | Committee | Held |
|---|---|---|---|
| Serial No. 110-90 | THE COMMUNITY REINVESTMENT ACT: THIRTY YEARS OF ACCOMPLISHMENTS, BUT CHALLENGES REMAIN323 pages | Financial Services Committee | Feb 13, 2008 |
Related bills 1
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| S 2487 | Depository Institution Community Development Investments Enhancement Act | Related bill | Dec 14, 2007 |
Titles 3
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- To increase community development investments by depository institutions, and for other purposes.
- Short Titles as Introduced
- Depository Institution Community Development Investments Enhancement Act
- Short Titles as Passed House
- Depository Institution Community Development Investments Enhancement Act
Subjects
Assigned by the Library of Congress. Policy area: Finance and Financial Sector.
Text 3
Each version as it was printed, newest first.
- Feb 28, 2007Referred in Senate
- Feb 27, 2007Engrossed in House
- Feb 15, 2007Introduced in House
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.
