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I
116TH CONGRESS
1ST SESSION H. R. 2305
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
APRIL 12, 2019
Mr. GONZALEZ of Texas (for himself, Mr. COOK, Ms. GABBARD, and Mr.
YOUNG) introduced the following bill; which was referred to the Com-
mittee on Financial Services
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-
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tives of the United States of America in Congress assembled,
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SECTION 1. SHORT TITLE.
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This Act may be cited as the ‘‘Veterans Members
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Business Loan Act’’.
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SEC. 2. MEMBER BUSINESS LOAN DEFINITION.
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(a) IN GENERAL.—Section 107A(c) of the Federal
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Credit Union Act (12 U.S.C. 1757a(c)) is amended—
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(1) in paragraph (1)(B)—
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•HR 2305 IH
(A) in clause (iv), by striking ‘‘or’’ at the
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end;
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(B) in clause (v), by striking the period
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and inserting ‘‘; or’’; and
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(C) by adding at the end the following:
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‘‘(vi) made to a veteran;’’;
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(2) in paragraph (2), by striking ‘‘and’’ at the
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end;
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(3) in paragraph (3), by striking the period and
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inserting ‘‘; and’’; and
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(4) by adding at the end the following:
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‘‘(4) the term ‘veteran’ has the meaning given
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such term under section 101 of title 38, United
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States Code.’’.
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(b) EFFECTIVE DATE.—The amendments made by
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subsection (a) shall take effect after the end of the 6-
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month period beginning on the date of the enactment of
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this Act.
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