II
119THCONGRESS
1
STSESSION S. 110
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 SENATE OF THE UNITED STATES
JANUARY16, 2025
Mr. S
ULLIVAN(for himself and Ms. HIRONO) introduced the following bill;
which was read twice and referred to the Committee on Banking, Hous-
ing, and Urban Affairs
A BILL
To amend the Federal Credit Union Act to exclude exten-
sions of credit made to veterans from the definition
of a member business loan.
Be it enacted by the Senate and House of Representa-1
tives of the United States of America in Congress assembled, 2
SECTION 1. SHORT TITLE. 3
This Act may be cited as the ‘‘Veterans Member 4
Business Loan Act’’. 5
SEC. 2. MEMBER BUSINESS LOAN DEFINITION. 6
(a) I
NGENERAL.—Section 107A(c) of the Federal 7
Credit Union Act (12 U.S.C. 1757a(c)) is amended— 8
(1) in paragraph (1)(B)— 9
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•S 110 IS
(A) in clause (iv), by striking ‘‘or’’ at the 1
end; 2
(B) in clause (v), by striking the period at 3
the end and inserting ‘‘; or’’; and 4
(C) by adding at the end the following: 5
‘‘(vi) made to a veteran;’’; 6
(2) in paragraph (2)(B)(ii), by striking ‘‘and’’ 7
at the end; 8
(3) in paragraph (3), by striking the period at 9
the end and inserting ‘‘; and’’; and 10
(4) by adding at the end the following: 11
‘‘(4) the term ‘veteran’ has the meaning given 12
the term in section 101 of title 38, United States 13
Code.’’. 14
(b) E
FFECTIVEDATE.—The amendments made by 15
subsection (a) shall take effect on the date that is 180 16
days after the date of enactment of this Act. 17
Æ
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