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House Bill 2391
116th Congress(2019-2020)
Improving Rural Access to Power Act of 2019
Introduced
Introduced
Introduced in House on Apr 29, 2019
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Introduced in House 
Apr 29, 2019
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Introduced in House(Apr 29, 2019)
Apr 29, 2019
Not Scanned for Linkage
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Multiple bills can contain the same text. This could be an identical bill in the opposite chamber or a smaller bill with a section embedded in a larger bill.
Bill Sponsor regularly scans bill texts to find sections that are contained in other bill texts. When a matching section is found, the bills containing that section can be viewed by clicking "View Bills" within the bill text section.
Bill Sponsor is currently only finding exact word-for-word section matches. In a future release, partial matches will be included.
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H. R. 2391 (Introduced-in-House)


116th CONGRESS
1st Session
H. R. 2391


To amend the Federal Home Loan Bank Act to provide investment authority to support rural infrastructure development, and for other purposes.

IN THE HOUSE OF REPRESENTATIVES

April 29, 2019

Mr. David Scott of Georgia (for himself and Mr. Riggleman) introduced the following bill; which was referred to the Committee on Financial Services

A BILL

To amend the Federal Home Loan Bank Act to provide investment authority to support rural infrastructure development, and for other purposes.

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

SECTION 1. Short title.

This Act may be cited as the “Improving Rural Access to Power Act of 2019”.

SEC. 2. Cooperative associations that support rural infrastructure development.

Section 11 of the Federal Home Loan Bank Act (12 U.S.C. 1431) is amended by adding at the end the following:

“(m) Cooperative associations that support rural infrastructure development.—Each Federal Home Loan Bank is authorized to purchase investment-grade securities from nonmember lenders that are organized as cooperatives and that have received financing from the Federal Financing Bank and that have demonstrated experience in making loans to cooperatives that are eligible to receive loans or commitments for loans from the Rural Utilities Service (or any successor agency). Such securities shall be secured investments collateralized by loans of the cooperative lender. The purchase of such securities shall be at the sole discretion of each Federal Home Loan Bank, consistent with such regulations, restrictions, and limitations as may be prescribed by the Agency.”.