the loan was made is located, which information
shall be disaggregated by racial characteristics,
income level, and gender of the borrower under
the loan.
(C) 
COMMERCIAL
AND
INDUSTRIAL
LOANS.—The total number of commercial and
industrial loans made by the insurer, the aggre-
gate amount of such loans, and the amount of
each such loan, by census tract, including low-
and moderate-income neighborhoods, in which
the property or business involved in the loan is
located, 
which 
information 
shall 
be
disaggregated by the size of business of the bor-
rower under the loan and by the ownership
characteristic of the business, which shall be
classified as either minority-owned, women-
owned, or otherwise-owned.
(2) LOAN PURCHASES.—
(A) COMMERCIAL REAL ESTATE LOANS.—
The total number of loans for the purchase of
commercial real estate purchased by the in-
surer, the aggregate amount of such loans, and
the amount of each such loan, by census tract,
including low- and moderate-income neighbor-
hoods, in which the real estate for which the
loan was made is located.
(B) 
SINGLE-FAMILY
MORTGAGES.—The
total number of mortgage loans for the pur-
chase of 1- to 4-family dwellings purchased by
the insurer, the aggregate amount of such
loans, and the amount of each such loan, by
census tract, including low- and moderate-in-
come neighborhoods, in which the dwelling for
which the loan was made is located, which in-
formation shall be disaggregated by racial char-
acteristics, income level, and gender of the bor-
rower under the loan.
(C) 
COMMERCIAL
AND
INDUSTRIAL
LOANS.—The total number of commercial and
industrial loans purchased by the insurer, the
aggregate amount of such loans, and the
amount of each such loan, by census tract, in-
cluding low- and moderate-income neighbor-
hoods, in which the property or business in-
volved in the loan is located, which information
shall be disaggregated by the size of business of
the borrower under the loan and by the owner-
ship characteristic of the business, which shall
be classified as either minority-owned, women-
owned, or otherwise-owned.
(3) OTHER INVESTMENTS.—For such other in-
vestments made by the insurer as the Secretary may
designate pursuant to subsection (b), the total num-
ber of such investments, the aggregate amount of
such investments, and the amount of each such in-
vestment, by census tract, including low- and mod-
erate-income neighborhoods, in which the property
or business involved in the investment is located, as
determined by the Secretary, which information shall
be disaggregated by the size of business of the bor-
rower under the loan and by the ownership char-
acteristic of the business, which shall be classified
as either minority-owned, women-owned, or other-
wise-owned.
(b) DESIGNATION OF OTHER INVESTMENTS.—
(1) IN GENERAL.—For purposes of subsection
(a)(3), the Secretary may designate activities and in-
vestments other than the investments described in
paragraphs (1) and (2) of subsection (a) for which
insurers shall compile and submit information under
this section.
(2) REQUIREMENT.—In making designations
under this subsection, the Secretary shall designate
(A) activities and investments that significantly ben-
efit low- and moderate-income families and persons,
small businesses in distressed communities, or
minority- or women-owned businesses, and (B) ac-
tivities and investments that contribute to the cre-
ation of jobs and economic development of distressed
communities.
(3) CONSIDERATIONS.—The Secretary shall
specifically consider for designation under this sub-
section investments in community development fi-
nancial institutions, community development cor-
porations, State-issued bonds, and securities backed
by State development funds.
(c) SIZE OF BUSINESS.—The Secretary shall, by reg-
ulation, establish various categories of the sizes of busi-
nesses, for purposes of disaggregating information under
paragraphs (1)(C), (2)(C), and (3) of subsection (a) by
various sizes of businesses.
SEC. 208. SUBMISSION OF INFORMATION TO SECRETARY
AND MAINTENANCE OF INFORMATION.
(a) PERIOD OF MAINTENANCE.—Each insurer re-
quired by this title to compile and submit information to
the Secretary shall maintain such information for the 3-
year period beginning upon the conclusion of the annual
reporting period to which such information relates. The
Secretary shall maintain any information submitted to the
Secretary for such period as the Secretary considers ap-
propriate and feasible to carry out the purposes of this
title and to allow for historical analysis and comparison
of the information.
(b) SUBMISSION.—The Secretary shall issue regula-
tions prescribing a standard schedule (taking into consid-
eration the provisions of section 209(a)), format, and
method for submitting information under this title to the
Secretary. The format and method of submitting the infor-
mation shall facilitate and encourage the submission in a
form readable by a computer. Any insurer submitting in-
formation to the Secretary may submit in writing to the
Secretary any additional information or explanations that
the insurer considers relevant to the decision by the in-
surer to sell insurance.
SEC. 209. AVAILABILITY AND ACCESS SYSTEM.
(a) AVAILABILITY TO PUBLIC.—
(1) IN GENERAL.—The Secretary shall main-
tain and make available to the public, in accordance
with the requirements of this section, any informa-
tion submitted to the Secretary under this title and
any information compiled by the Secretary under
this title.
(2) TIMING.—The Secretary shall make such
information publicly available on a timetable deter-
mined by the Secretary, but not later than 9 months
after the conclusion of the annual reporting period
to which the information relates, except that such
information shall not be made available to the public
until it is available in its entirety unless not all the
information required to be reported is available by
such date.
(b) PUBLIC ACCESS SYSTEM.—
(1) IMPLEMENTATION.—The Secretary shall
implement a system to facilitate access to any infor-
mation required to be made available to the public
under this title.
(2) BASES OF AVAILABILITY.—The system shall
provide access in the following manners:
(A) ACCESS TO ITEMIZED INFORMATION.—
With respect to information submitted under by
insurers, on the basis of the insurer submitting
the information, on the basis of the census
tract, including low- and moderate-income
neighborhoods, and on any other basis the Sec-
retary considers feasible and appropriate.
(B) ACCESS
TO
AGGREGATE
INFORMA-
TION.—With respect to aggregate information
(B) the Secretary may disclose the loss
ratio only in a manner that does not allow any
party to determine the identity of the specific
insurer to which the loss ratio relates, except
parties having access to information under
paragraph (3).
(3) CONFIDENTIALITY
OF
INFORMATION
DIS-
CLOSED TO GOVERNMENTAL AGENCIES.—The Sec-
retary may make information referred to in para-
graph (1) and the identity of the specific insurer to
which such information relates available to any Fed-
eral entity and any State agency responsible for reg-
ulating insurance in a State and may otherwise dis-
close such information to any such entity or agency,
but only to the extent such entity or agency agrees
not to make any such information available or dis-
close such information to any other person.
SEC. 210. DESIGNATIONS.
(a) DESIGNATION OF LINES OF INSURANCE.—
(1) IN GENERAL.—The Secretary shall, by reg-
ulation, designate lines of insurance as designated
lines for purposes of this title, as follows:
(A) AUTOMOBILE.—The Secretary shall
designate private passenger automobile insur-
ance and shall also designate any sublines and
coverage types of private passenger automobile
insurance that the Secretary considers appro-
priate to determine and compare the avail-
ability, affordability, and type of coverage in
such line among applicable regions.
(B) NONCOMMERCIAL
INSURANCE
FOR
RESIDENTIAL PROPERTY.—The Secretary shall
designate homeowners insurance and dwelling
fire and allied lines, and shall distinguish the
coverage types in such lines by the perils cov-
ered and by market or replacement value. For
purposes of this title, homeowners insurance
shall not include any renters coverage or cov-
erage for the personal property of a condo-
minium owner.
(2) REPORT.—At any time the Secretary deter-
mines that any line of insurance not described in
paragraph (1) should be a designated line because
disparities in coverage provided under such line exist
among geographic areas having different income lev-
els or racial composition, the Secretary shall submit
a report recommending designating such line of in-
surance as a designated line for purposes of this title
to the Committee on Banking, Finance and Urban
Affairs of the House of Representatives and the ap-
propriate Committees of the Senate.
(3) DURATION.—
(A) IN GENERAL.—Except as provided in
subparagraph (B), the Secretary shall make the
designations under this subsection once every 5
years, by regulation, and each line and subline
or coverage type designated under such regula-
tions shall be designated for each of the first 5
successive annual reporting periods occurring
after issuance of the regulations.
(B) ALTERATION.—During any 5-year pe-
riod referred to in subparagraph (A) in which
designations are in effect, the Secretary may
amend or revise the designated lines, sublines,
and coverage types only by regulation and only
in accordance with the requirements of this
subsection. Such regulations amending or revis-
ing designations shall apply only to annual re-
porting periods beginning after the expiration
of the 6-month period beginning on the date of
issuance of the regulations.
(b) TIMING OF DESIGNATIONS.—The Secretary shall
make the designations required by subsection (a)(3)(A)
and notify interested parties during the 6-month period
ending 6 months before the commencement of the first
annual reporting period to which such designations apply.
(c) OBTAINING INFORMATION.—The Secretary may
require insurers to submit to the Secretary such informa-
tion as the Secretary considers necessary to make designa-
tions specifically required under this title. The Secretary
may not require insurers to submit any information under
this subsection that relates to any line of insurance not
specifically authorized to be designated pursuant to this
title or that is to be used solely for the purpose of a report
under subsection (a)(2).
SEC. 211. ENFORCEMENT.
(a) CIVIL PENALTIES.—Any insurer who is deter-
mined by the Secretary, after providing opportunity for
a hearing on the record, to have violated any requirement
pursuant to this title shall be subject to a civil penalty
of not to exceed $5,000 for each day during which such
violation continues.
(b) INJUNCTION.—The Secretary may bring an ac-
tion in an appropriate United States district court for ap-
propriate declaratory and injunctive relief against any in-
surer who violates the requirements referred to in sub-
section (a).
(c) INSURER LIABILITY.—An insurer shall be respon-
sible under subsections (a) and (b) for any violation of
a statistical agent acting on behalf of the insurer.
SEC. 212. EXEMPTION AND RELATION TO STATE LAWS.
(a) EXEMPTION FOR UNITED STATES PROGRAMS.—
Reporting shall not be required under this title with re-
spect to insurance provided by any program underwritten
or administered by the United States.
(b) RELATION TO STATE LAWS.—This title shall not
be construed as annulling, altering, or affecting the laws
of any State or any political subdivision of a State relating
to public disclosure, submission of information, and rec-
ordkeeping or exempting any insurer subject to this title
from any obligation under, or an obligation to comply
with, any such law.
SEC. 213. REGULATIONS.
(a) AUTHORIZATION.—
(1) IN
GENERAL.—The Secretary shall
issue any regulations required under this title
and any other regulations that may be nec-
essary to carry out this title.
(2) SUBSTANTIVE REGULATIONS.—The regula-
tions shall be issued in accordance with the proce-
dures under section 553 of title 5, United States
Code, for substantive regulations.
(3) EFFECTIVE
DATE.—Except as otherwise
provided in this title, such final regulations shall be
issued before the end of the 18-month period begin-
ning on the date of the enactment of this Act.
(b) BURDENS.—In prescribing such regulations, the
Secretary shall take into consideration the administrative,
paperwork, and other burdens on insurance agents, includ-
ing independent insurance agents, involved in complying
with the requirements of this title and shall minimize the
burdens imposed by such requirements with respect to
such agents.
SEC. 214. DEFINITIONS.
For purposes of this subtitle, the following definitions
shall apply:
(1) AGENT.—The term ‘‘agent’’—
(A) means, with respect to an insurer, an
agent licensed by a State who sells property and
casualty insurance; and
(B) includes agents who are employees of
the insurer, agents who are independent con-
tractors working exclusively for the insurer, and
agents who are independent contractors ap-
pointed to represent the insurer on a nonexclu-
sive basis.
(2) 
COMMERCIAL
INSURANCE.—The 
term
‘‘commercial insurance’’ means any line of property
and casualty insurance, except private passenger
automobile, homeowner’s insurance and dwelling fire
and allied lines, and other personal lines of insur-
ance.
(3) DESIGNATED LINE.—The term ‘‘designated
line’’ means a line of insurance or bid, performance,
and payment bonds designated by the Secretary
under section 210(a).
(4) 
EXPOSURES.—The 
term 
‘‘exposures’’
means, for purposes of section 203, with respect to
an insurance policy, an expression of an exposure
unit covered under the policy compared to the dura-
tion of the policy (pursuant to standards established
by the Secretary for uniform reporting of expo-
sures).
(5) EXPOSURE
UNITS.—The term ‘‘exposure
units’’ means, for purposes of section 203, an auto-
mobile or dwelling covered under an insurance policy
for private passenger automobile or homeowners or
dwelling fire and allied lines coverage.
(6) INSURANCE.—The term ‘‘insurance’’ means
property and casualty insurance. Such term includes
primary insurance, surplus lines insurance, and any
other arrangement for the shifting and distributing
of risks that is determined to be insurance under the
law of any State in which the insurer or insurer
group engages in an insurance business.
(7) INSURER.—The term ‘‘insurer’’
(A) means any corporation, association, so-
ciety, order, firm, company, mutual, partner-
ship, individual, aggregation of individuals, or
any other legal entity that is authorized to
transact the business of property or casualty in-
surance in any State or that is engaged in a
property or casualty insurance business; and
(B) does not include an individual or entity
which represents an insurer as agent solely for
the purpose of selling or which represents a
consumer as a broker solely for the purpose of
buying insurance.
(8) ISSUED.—The term ‘‘issued’’ means, with
respect to an insurance policy, newly issued or re-
newed.
(9) JOINT UNDERWRITING ASSOCIATION.—The
term ‘‘joint underwriting association’’ means an un-
incorporated association of insurers established to
provide a particular form of insurance to the public.
(10) 
MORTGAGE
INSURANCE.—The 
term
‘‘mortgage insurance’’ means insurance against the
nonpayment of, or default on, a mortgage or loan
for residential or commercial property.
(11) PRIVATE
MORTGAGE
INSURANCE.—The
term ‘‘private mortgage insurance’’ means mortgage
insurance other than mortgage insurance made
available under the National Housing Act, title 38 of
the United States Code, or title V of the Housing
Act of 1949.
(12) PROPERTY AND CASUALTY INSURANCE.—
The term ‘‘property and casualty insurance’’—
(A) means insurance against loss of or
damage to property, insurance against loss of
income or extra expense incurred because of
loss of, or damage to, property, and insurance
against third party liability claims caused by
negligence or imposed by statute or contract;
and
(B) does not include workers’ compensa-
tion, professional liability, or title insurance.
(13) RESIDUAL MARKET.—The term ‘‘residual
market’’—
(A) means an assigned risk plan, joint un-
derwriting association, or any similar mecha-
nism designed to make insurance available to
those unable to obtain it in the voluntary mar-
ket; and
(B) includes each statewide plan under
part A of title XII of the National Housing Act
to assure fair access to insurance requirements.
(14) RURAL
AREA.—The term ‘‘rural area’’
means any area that—
(A) has a population of 10,000 or more;
(B) has a continuous boundary; and
(C) contains only areas that are rural
areas, as such term is defined in section 520 of
the Housing Act of 1949 (except that clause
(3)(B) of such section 520 shall not apply for
purposes of this title).
(15) 
SECRETARY.—The 
term 
‘‘Secretary’’
means the Secretary of Housing and Urban Develop-
ment.
(16) STATE.—The term ‘‘State’’ means any
State, the District of Columbia, the Commonwealth
of Puerto Rico, the Northern Mariana Islands, the
Virgin Islands, American Samoa, and the Trust Ter-
ritory of the Pacific Islands.
SEC. 215. EFFECTIVE DATE.
The requirements of this title relating to reporting
of information by insurers shall take effect with respect
to the first annual reporting period that begins more than
36 months after the date of the enactment of this Act.
Subtitle B—Improvements in Other
Data Disclosure Requirements
SEC. 221. IMPROVE SMALL BUSINESS AND AGRICULTURE
LENDING DATA DISCLOSURE.
(a) REPORTING REQUIREMENTS.—Section 806 of the
Community Reinvestment Act of 1977 (12 U.S.C. 2905)
is amended—
(1) by inserting ‘‘(a) IN GENERAL.—’’ after
‘‘SEC. 806.’’; and
(2) by adding at the end the following new sub-
section:
‘‘(b) REGULATORY EXEMPTIONS FROM REPORTING
REQUIREMENTS.—
‘‘(1) PROHIBITION
ON
REGULATORY
EXEMP-
TIONS
FROM
CERTAIN
REPORTING
REQUIRE-
MENTS.—No provision of this title may be construed
as authorizing the Board or any other Federal agen-
cy to exempt any depository institution from the re-
quirements of any regulation prescribed under this
title relating to the provision of data relating to
farm and small business loans, except with regard to
U.S.C. 2802(1)) is amended by inserting ‘‘or a man-
ufactured home’’ after ‘‘residential real property’’.
(e) ENFORCEMENT POWERS FOR SECRETARY.—Sec-
tion 305 of the Home Mortgage Disclosure Act of 1975
(12 U.S.C. 2804) is amended by inserting at the end the
following new subsection:
‘‘(d) AUTHORITY
TO
CARRY
OUT
SUBSECTION
(b)(4).—For purposes of enforcing compliance with the re-
quirements of this title pursuant to subsection (b)(4)—
‘‘(1) subsections (b) through (n) of section 8 of
the Federal Deposit Insurance Act shall apply to de-
pository institutions described in section 303(2)(B)
in the same manner they apply to depository institu-
tions (as defined in section 3 of the Federal Deposit
Insurance Act); and
‘‘(2) the Secretary shall have the same powers
and duties under such subsections with respect to
depository 
institutions 
described 
in 
section
303(2)(B) as an appropriate Federal banking agen-
cy (as defined in such Act) has with respect to de-
pository institutions (as defined in section 3 of the
Federal Deposit Insurance Act).’’.
Æ