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HR 1555 105th Congress House

American Cities Investment Act of 1997

Official title: To amend the Housing and Community Development Act of 1974 and the Federal Home Loan Bank Act to authorize Federal Home Loan Banks to make guaranteed advances … Show full official titleShow less

Official title: To amend the Housing and Community Development Act of 1974 and the Federal Home Loan Bank Act to authorize Federal Home Loan Banks to make guaranteed advances for community development activities to units of general local government and advances of future community development block grant entitlement amounts, and to expand the community participation requirements relating to community development loan guarantees to include participation of major community stakeholders, and for other purposes.

Introduced: May 8, 1997 See on congress.gov
Housing and Community Development Community developmentCommunity development bankingEconomics and Public FinanceFederal aid to cities
More subjectsShow fewer subjects
Federal aid to community developmentFederal home loan banksFederally-guaranteed loansFinance and Financial SectorGovernment Operations and PoliticsGovernment lendingGovernment paperworkInfrastructureLocal financeMetropolitan areasPlanningUrban affairs
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This bill died when the 105th Congress ended
It never became law before the 105th Congress (1997–1998) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 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
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 Latest action May 30, 1997

Referred to the Subcommittee on Housing and Community Opportunity.

 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.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 3
 Cosponsors 11
All 11 Democratic 9
D
McGovern, James P.
Massachusetts · Mar 24, 1998
 D
Bishop, Sanford D.
Georgia · Sep 9, 1997
 D
Clyburn, James E.
South Carolina · May 8, 1997
 D
Davis, Danny K.
Illinois · May 8, 1997
 D
DeGette, Diana
Colorado · May 8, 1997
FROST, MARTIN
· May 8, 1997
GEPHARDT, RICHARD
· May 8, 1997
 D
Kaptur, Marcy
Ohio · May 8, 1997
 D
Norton, Eleanor Holmes
District of Columbia · May 8, 1997
 D
Thompson, Bennie G.
Mississippi · May 8, 1997
 D
Waters, Maxine
California · May 8, 1997
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 1555: American Cities Investment Act of 1997. 105th Congress. Open America. https://openamerica.io/bill/105-HR-1555/
MLA
"H.R. 1555: American Cities Investment Act of 1997." 105th Congress, 2026, Open America, https://openamerica.io/bill/105-HR-1555/.
Bluebook (legal)
H.R. 1555, 105th Cong. (2026), https://openamerica.io/bill/105-HR-1555/.
Markdown link
[H.R. 1555: American Cities Investment Act of 1997](https://openamerica.io/bill/105-HR-1555/)
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