Promoting New Bank Formation

Section 908 of the 21st Century ROAD to Housing Act is amended— (1) in subsection (b)(2), by striking 180-day and inserting 90-day; (2) in subsection (c)— (A) in the heading, by inserting and extension after study; (B) by redesignating paragraph (2) as paragraph (3); and (C) by inserting after paragraph (1) the following: (2) Safety and soundness determination; extension of pilot program (A) Determination Not earlier than January 1, 2031, and not later than June 30, 2031, the Federal banking agencies may, jointly, determine that subsections (a) and (b) have had a significant adverse effect on the safety and soundness of qualifying community banks. (B) Extension Unless the Federal banking agencies make the determination described in subparagraph (A), the authorities under subsections (a) and (b) shall be permanent. (C) Termination If the Federal banking agencies make the determination described in subparagraph (A)— (i) subsections (a) and (b) shall only apply to a qualifying community bank that became an insured depository institution before the date of such determination; and (ii) the Federal banking agencies shall issue a report to the Committee on Financial Services of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate, and make such report available to the public, containing such determination and the reasons for such determination.; and (3) in subsection (e)(6)(B), by striking between January 1, 2026, and December 31, 2028 and inserting on or after January 1, 2026.