I 
115TH CONGRESS 
1ST SESSION H. R. 4562 
To provide relief to community banks, to promote access to capital for 
community banks, and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
DECEMBER 6, 2017 
Mr. HILL (for himself and Mr. DAVID SCOTT of Georgia) introduced the 
following bill; which was referred to the Committee on Financial Services 
A BILL 
To provide relief to community banks, to promote access 
to capital for community banks, and for other purposes. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Community Bank Ac-
cess to Capital Act of 2017’’. 
SEC. 2. BASEL III EXEMPTION FOR COMMUNITY BANKS. 
(a) DEFINITIONS.—In this section— 
(1) the term ‘‘community bank’’ means— 
(A) an insured depository institution; and 
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(B) a depository institution holding com-
pany with consolidated assets of not greater 
than $50,000,000,000; 
(2) the term ‘‘insured depository institution’’ 
has the meaning given the term in section 3(c) of 
the Federal Deposit Insurance Act (12 U.S.C. 
1813(c)); and 
(3) the term ‘‘depository institution holding 
company’’ means a bank holding company or savings 
and loan holding company (as those terms are de-
fined under section 3(w) of the Federal Deposit In-
surance Act (12 U.S.C. 1813(w))). 
(b) PROMULGATION
OF REGULATIONS.—Not later 
than 90 days after the date of enactment of this Act, the 
Comptroller of the Currency, the Board of Governors of 
the Federal Reserve System, and the Federal Deposit In-
surance Corporation shall each promulgate a regulation 
exempting community banks from any regulation issued 
to implement ‘‘Basel III: A global regulatory framework 
for more resilient banks and banking systems’’, as issued 
by the Basel Committee on Banking Supervision on De-
cember 16, 2010, and revised on June 1, 2011. 
(c) CAPITAL REQUIREMENTS ADJUSTMENT.—The 
Comptroller of the Currency, the Board of Governors of 
the Federal Reserve System, and the Federal Deposit In-
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surance Corporation shall make the revisions to capital re-
quirements as the Comptroller, the Board, and the Cor-
poration, respectively, determine are necessary or appro-
priate in light of the regulations required under subsection 
(b). 
SEC. 3. INTERNAL CONTROL ATTESTATION REQUIREMENT 
EXEMPTIONS. 
Section 404(c) of the Sarbanes-Oxley Act of 2002 (15 
U.S.C. 7262(c)) is amended— 
(1) by striking ‘‘that is neither’’ and inserting 
the following: ‘‘that— 
‘‘(1) is neither’’; 
(2) by striking the period at the end and insert-
ing ‘‘; or’’; and 
(3) by adding at the end the following: 
‘‘(2) is an insured depository institution or a 
depository institution holding company (as those 
terms are defined in section 3 of the Federal De-
posit Insurance Act (12 U.S.C. 1813)), with consoli-
dated assets of not greater than $1,000,000,000.’’. 
SEC. 4. REGULATION D CHANGES. 
Not later than 90 days after the date of enactment 
of this Act, the Securities and Exchange Commission shall 
revise section 230.506(b)(2)(i) of title 17, Code of Federal 
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Regulations, to change the limitation on the number of 
purchasers contained in the section from 35 to 70. 
SEC. 5. CHANGES REQUIRED TO SMALL BANK HOLDING 
COMPANY POLICY STATEMENT ON ASSESS-
MENT OF FINANCIAL AND MANAGERIAL FAC-
TORS. 
(a) DEFINITIONS.—In this section— 
(1) the term ‘‘bank holding company’’ has the 
meaning given the term in section 2 of the Bank 
Holding Company Act of 1956 (12 U.S.C. 1841); 
(2) the term ‘‘Board’’ means the Board of Gov-
ernors of the Federal Reserve System; and 
(3) the term ‘‘savings and loan holding com-
pany’’ has the meaning given the term in section 
10(a) of the Home Owners’ Loan Act (12 U.S.C. 
1467a(a)). 
(b) REVISION.—Not later than 180 days after the 
date of enactment of this Act, the Board shall revise ap-
pendix C of part 225 of title 12, Code of Federal Regula-
tions (commonly known as the ‘‘Small Bank Holding Com-
pany and Savings and Loan Holding Company Policy 
Statement’’), to raise the consolidated asset threshold 
under that appendix from $1,000,000,000 (as adjusted by 
Public Law 113–250 (12 U.S.C. 5371 note)) to 
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$3,000,000,000 for a bank holding company or savings 
and loan holding company that— 
(1) is not engaged in significant nonbanking ac-
tivities either directly or through a nonbank sub-
sidiary; 
(2) does not conduct significant off-balance 
sheet activities (including securitization and asset 
management or administration) either directly or 
through a nonbank subsidiary; and 
(3) does not have a material amount of debt or 
equity securities outstanding (other than trust pre-
ferred securities) that are registered with the Securi-
ties and Exchange Commission. 
(c) EXCLUSIONS.—The Board may exclude any bank 
holding company or savings and loan holding company, re-
gardless of asset size, from the revision under subsection 
(b) if the Board determines that such action is warranted 
for supervisory purposes. 
(d) CONFORMING AMENDMENT.—Section 171(b)(5) 
of the Financial Stability Act of 2010 (12 U.S.C. 
5371(b)(5)) is amended by striking subparagraph (C) and 
inserting the following: 
‘‘(C) any bank holding company or savings 
and loan holding company that is subject to the 
application of appendix C of part 225 of title 
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12, Code of Federal Regulations (commonly 
known as the ‘Small Bank Holding Company 
and Savings and Loan Holding Company Policy 
Statement’).’’. 
Æ 
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