To authorize emergency loan guarantee assistance in connection with section 108 of the Housing and Community Development Act of 1974 for developing and reestablishing businesses in areas affected by certain civil disturbances during April and May of 1992, and for other purposes.
Gonzalez-Waters Distressed Communities Assistance Act - Authorizes the Secretary of Housing and Urban Development to provide emergency loan guarantee assistance in connection with section 108 of the Housing and Community Development Act of 1974 for business development and reestablishment in areas of Los Angeles affected by civil disturbances on or after April 29, 1992, and before May 6, 1992. Exempts such guarantees from specified program requirements.
Authorizes assistance to cover related interest costs.
Directs the Secretary to enter into guarantees with an aggregate principal amount of $500,000,000, subject to approval in appropriation Acts.
Introduced in House
Introduced in House
Referred to the House Committee on Banking, Finance + Urban Affrs.
Referred to the Subcommittee on Economic Stabilization.
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