Recognizing the importance of community development corporations (CDCs).
Declares that the House of Representatives: (1) recognizes the importance of promoting community development corporations in communities across the United States; (2) acknowledges the contributions community development corporations have made in providing affordable housing, employment, and educational opportunities for community residents; and (3) recognizes the need for the federal government to provide financial assistance to community development corporations to support their continued efforts in economic development, affordable housing production, and job creation in communities having such needs, particularly after Hurricanes Katrina and Rita.
Referred to the Committee on Financial Services, and in addition to the Committee on Education and Labor, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.