Instructions: In this task, you are given text for US Congressional and California state bills, your task is to generate a summary for this bill.
Input: SECTION 1. SHORT TITLE.

This Act may be cited as the ''Depository Institution Community
Development Investments Enhancement Act''.

SEC. 2. TECHNICAL CORRECTIONS.

(a) National Banks.--The first sentence of the paragraph designated
as the ''Eleventh'' of section 5136 of the Revised Statutes of the
United States (12 U.S.C. 24) (as amended by section 305(a) of the
Financial Services Regulatory Relief Act of 2006) is amended by
striking ''promotes the public welfare by benefitting primarily'' and
inserting ''is designed primarily to promote the public welfare,
including the welfare of''.
(b) State Member Banks.--The first sentence of the 23rd paragraph
of section 9 of the Federal Reserve Act (12 U.S.C. 338a) is amended by
striking ''promotes the public welfare by benefiting primarily'' and
inserting ''is designed primarily to promote the public welfare,
including the welfare of''.

SEC. 3. INVESTMENTS BY FEDERAL SAVINGS ASSOCIATIONS AUTHORIZED TO
PROMOTE THE PUBLIC WELFARE.

Section 5(c) of the Home Owners' Loan Act (12 U.S.C. 1464) is
amended--
(1) in paragraph (3)--
(A) by striking subparagraph (A); and
(B) by redesignating subparagraphs (B) and (C), as
subparagraphs (A) and (B), respectively; and
(2) in paragraph (4), by adding at the end the following
new subparagraph:
''(G) Direct investments to promote the public
welfare.--
''(i) In general.--A Federal savings
association may make investments, directly or
indirectly, each of which is designed primarily
to promote the public welfare, including the
welfare of low- and moderate-income communities
or families through the provision of housing,
services, and jobs.
''(ii) Direct investments or acquisition of
interest in other companies.--Investments under
clause (i) may be made directly or by
purchasing interests in an entity primarily
engaged in making such investments.
''(iii) Prohibition on unlimited
liability.--No investment may be made under
this subparagraph which would subject a Federal
savings association to unlimited liability to
any person.
''(iv) Single investment limitation to be
established by director.--Subject to clauses
(v) and (vi), the Director shall establish, by
order or regulation, limits on--
''(I) the amount that any savings
association may invest in any 1
project; and
''(II) the aggregate amount of
investment of any savings association
under this subparagraph.
''(v) Flexible aggregate investment
limitation.--The aggregate amount of
investments of any savings association under
this subparagraph may not exceed an amount
equal to the sum of 5 percent of the capital
stock of the savings association actually paid
in and unimpaired and 5 percent of the
unimpaired surplus of the savings association,
unless--
''(I) the Director determines that
the savings association is adequately
capitalized; and
''(II) the Director determines, by
order, that the aggregate amount of
investments in a higher amount than the
limit under this clause would pose no
significant risk to the affected
Deposit Insurance Fund.
''(vi) Maximum aggregate investment
limitation.--Notwithstanding clause (v), the
aggregate amount of investments of any savings
association under this subparagraph may not
exceed an amount equal to the sum of 15 percent
of the capital stock of the savings association
actually paid in and unimpaired and 15 percent
of the unimpaired surplus of the savings
association.
''(vii) Investments not subject to other
limitation on quality of investments.--No
obligation that a Federal savings association
acquires or retains under this subparagraph
shall be taken into account for purposes of the
limitation contained in section 28(d) of the
Federal Deposit Insurance Act on the
acquisition and retention of any corporate debt
security not of investment grade.
''(viii) Applicability of standards to each
investment.--The standards and limitations of
this subparagraph shall apply to each
investment under this subparagraph made by a
savings association directly and by its
subsidiaries.''.
Output:
Depository Institution Community Development Investments Enhancement Act - Amends the Home Owners' Loan Act to revise requirements for community development investments by federal savings associations.

Authorizes a federal savings association to make investments, directly or indirectly, each of which is designed primarily to promote the public welfare, including the welfare of low- and moderate-income communities or families through the provision of housing, services, and jobs (community development investments).

Permits such investments to be made directly or by purchase of interests in an entity primarily engaged in making such investments.

Prohibits a federal savings association from making an investment which would subject it to unlimited liability to any person.

Requires the Director of the Office of Thrift Supervision to establish: (1) the amount any savings association may invest in any one project; and (2) the aggregate amount of investment of any savings association.

Restricts the aggregate amount of investment of any savings association, subject to specified determinations made by the Director.

Prohibits the maximum aggregate amount of investments of any savings association from exceeding the same 15% of its capital stock actually paid in and unimpaired and 15% of its unimpaired surplus as imposed by this Act on national banking associations and state member banks.