Sec. 12. Application of CARES Act to low- and moderate-income community financial institutions
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Title IV of the CARES Act ( Public Law 116–136 ) is amended— in section 4012(b)— in paragraph (2), by striking The interim and inserting Except as provided in paragraph (3), the interim ; and by adding at the end the following: Notwithstanding paragraph (2), with respect to a qualifying community bank that is a low- and moderate-income community financial institution, the interim rule issued under paragraph
(1)shall be effective during the period beginning on the date on which the appropriate Federal banking agencies issue the rule and ending on December 31, 2022. ; and in section 4013(a)(1)— by striking means the period and inserting means— except as provided in subparagraph (B), the period ; in subparagraph (A), as so designated, by striking the period at the end and inserting ; and ; and by adding at the end the following: with respect to a low- and moderate-income community financial institution, the period beginning on March 1, 2020, and ending on December 31, 2022. .
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Sec. 12
Application of CARES Act to low- and moderate-income community financial institutions
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