1. Short title This Act may be cited as the Community Bank Relief Act . 2. Definitions In this Act— (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 Governors of the Federal Reserve System; and (3) the term savings and loan holding company has the meaning given the term in section 10(a) of the Home Owners' Loan Act ( 12 U.S.C. 1467a(a) ). 3. Changes required to small bank holding company policy statement on assessment of financial and managerial factors (a) In general Before the end of the 6-month period beginning on the date of the enactment of this Act, the Board of Governors of the Federal Reserve System shall revise appendix C of part 225 of title 12, Code of Federal Regulations (commonly known as the Small Bank Holding Company 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 $5,000,000,000 for bank holding companies and savings and loan holding companies that— (1) are not engaged in significant nonbanking activities either directly or through a nonbank subsidiary; (2) do not conduct significant off-balance sheet activities (including securitization and asset management or administration) either directly or through a nonbank subsidiary