| 1 | 1 | | II |
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| 2 | 2 | | 119THCONGRESS |
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| 3 | 3 | | 1 |
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| 4 | 4 | | STSESSION S. 110 |
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| 5 | 5 | | To amend the Federal Credit Union Act to exclude extensions of credit |
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| 6 | 6 | | made to veterans from the definition of a member business loan. |
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| 7 | 7 | | IN THE SENATE OF THE UNITED STATES |
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| 8 | 8 | | JANUARY16, 2025 |
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| 9 | 9 | | Mr. S |
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| 10 | 10 | | ULLIVAN(for himself and Ms. HIRONO) introduced the following bill; |
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| 11 | 11 | | which was read twice and referred to the Committee on Banking, Hous- |
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| 12 | 12 | | ing, and Urban Affairs |
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| 13 | 13 | | A BILL |
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| 14 | 14 | | To amend the Federal Credit Union Act to exclude exten- |
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| 15 | 15 | | sions of credit made to veterans from the definition |
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| 16 | 16 | | of a member business loan. |
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| 17 | 17 | | Be it enacted by the Senate and House of Representa-1 |
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| 18 | 18 | | tives of the United States of America in Congress assembled, 2 |
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| 19 | 19 | | SECTION 1. SHORT TITLE. 3 |
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| 20 | 20 | | This Act may be cited as the ‘‘Veterans Member 4 |
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| 21 | 21 | | Business Loan Act’’. 5 |
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| 22 | 22 | | SEC. 2. MEMBER BUSINESS LOAN DEFINITION. 6 |
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| 23 | 23 | | (a) I |
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| 24 | 24 | | NGENERAL.—Section 107A(c) of the Federal 7 |
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| 25 | 25 | | Credit Union Act (12 U.S.C. 1757a(c)) is amended— 8 |
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| 26 | 26 | | (1) in paragraph (1)(B)— 9 |
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| 27 | 27 | | VerDate Sep 11 2014 03:36 Feb 14, 2025 Jkt 059200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\S110.IS S110 |
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| 28 | 28 | | kjohnson on DSK7ZCZBW3PROD with $$_JOB 2 |
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| 29 | 29 | | •S 110 IS |
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| 30 | 30 | | (A) in clause (iv), by striking ‘‘or’’ at the 1 |
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| 31 | 31 | | end; 2 |
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| 32 | 32 | | (B) in clause (v), by striking the period at 3 |
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| 33 | 33 | | the end and inserting ‘‘; or’’; and 4 |
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| 34 | 34 | | (C) by adding at the end the following: 5 |
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| 35 | 35 | | ‘‘(vi) made to a veteran;’’; 6 |
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| 36 | 36 | | (2) in paragraph (2)(B)(ii), by striking ‘‘and’’ 7 |
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| 37 | 37 | | at the end; 8 |
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| 38 | 38 | | (3) in paragraph (3), by striking the period at 9 |
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| 39 | 39 | | the end and inserting ‘‘; and’’; and 10 |
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| 40 | 40 | | (4) by adding at the end the following: 11 |
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| 41 | 41 | | ‘‘(4) the term ‘veteran’ has the meaning given 12 |
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| 42 | 42 | | the term in section 101 of title 38, United States 13 |
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| 43 | 43 | | Code.’’. 14 |
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| 44 | 44 | | (b) E |
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| 45 | 45 | | FFECTIVEDATE.—The amendments made by 15 |
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| 46 | 46 | | subsection (a) shall take effect on the date that is 180 16 |
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| 47 | 47 | | days after the date of enactment of this Act. 17 |
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| 48 | 48 | | Æ |
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| 49 | 49 | | VerDate Sep 11 2014 03:36 Feb 14, 2025 Jkt 059200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6301 E:\BILLS\S110.IS S110 |
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| 50 | 50 | | kjohnson on DSK7ZCZBW3PROD with $$_JOB |
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