COMMUNITY DEVELOPMENT REVOLVING LOAN FUND FOR CREDIT UNIONS.

SEC. 120. COMMUNITY DEVELOPMENT REVOLVING LOAN FUND FOR CREDIT UNIONS. (a) Repeal.— Section 120 of the Federal Credit Union Act (12 U.S.C. 1766) is amended by striking subsection (k). (b) Revolving Loan Fund.— The Federal Credit Union Act (12 U.S.C. 1751 et seq.) is amended by inserting after section 129 the following new section: 108 STAT. 2189 “SEC. 130. COMMUNITY DEVELOPMENT REVOLVING LOAN FUND FOR CREDIT UNIONS. “(a) In General.— The Board may exercise the authority granted to it by the Community Development Credit Union Revolving Loan Fund Transfer Act, including any additional appropriation made or earnings accrued, subject only to this section and to regulations prescribed by the Board. “(b) Investment.— The Board may invest any idle Fund moneys in United States Treasury securities. Any interest accrued on such securities shall become a part of the Fund. “(c) Loans.— The Board may require that any loans made from the Fund be matched by increased shares in the borrower credit union. “(d) Interest.— Interest earned by the Fund may be allocated by the Board for technical assistance to community development credit unions, subject to an appropriations Act. “(e) Definition.— As used in this section, the term ‘Fund’ means the Community Development Credit Union Revolving Loan Fund.”.