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HR 1555 105th Congress House Housing and Community Development Community development Community development banking Economics and Public Finance Federal aid to cities Federal aid to community development Federal home loan banks Federally-guaranteed loans Finance and Financial Sector Government Operations and Politics Government lending Government paperwork Infrastructure Local finance Metropolitan areas Planning Urban affairs

American Cities Investment Act of 1997

Introduced: May 8, 1997 See on congress.gov
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 Everywhere this bill has been 4 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
May 30, 1997
Referred to the Subcommittee on Housing and Community Opportunity.
May 30, 1997
Referred to the Subcommittee on Capital Markets, Securities and Government Sponsored Enterprises.
May 8, 1997
Referred to the House Committee on Banking and Financial Services.
May 8, 1997
Introduced in House
 Plain-English summary Congressional Research Service

American Cities Investment Act of 1997 - Amends the Housing and Community Development Act of 1974 to: (1) set limitations on maximum outstanding loan guarantees issued by the Secretary of Housing and Urban Development; (2) authorize the Secretary to guarantee advances from Federal Home Loan Banks; and (3) expand the community participation requirements to include major stakeholders (as defined by this Act).

Amends the Federal Home Loan Bank Act to authorize advances to metropolitan cities, urban counties, or their public agencies for certain extraordinary, nonusual community development purposes pursuant to such loan guarantees. Prohibits the use of such funds to supplant Federal or non-federal fund sources. Sets forth amount limit and repayment provisions.

What's happening now May 30, 1997

Referred to the Subcommittee on Housing and Community Opportunity.

 Committees of jurisdiction 3
 Cosponsors 9
All 9 Democratic 9