National Community Economic Partnership Act of 1991

National Community Economic Partnership Act of 1991 - Amends the Omnibus Budget Reconciliation Act of 1981 to establish a program of community economic partnership investment funds. Authorizes the Secretary of Health and Human Services (the Secretary) to provide nonrefundable lines of credit to community development corporations (CDCs) to establish, maintain, or expand revolving loan funds to finance projects to: (1) provide business and employment opportunities for low-income and unemployed individuals; and (2) improve the quality of life in urban and rural areas.

Sets forth requirements relating to such revolving loan funds, including: (1) competitive assessment of applications from eligible entities for capitalization of such funds; (2) applications including strategic investment plans and demonstrations of experience and achievement; (3) matching local funds (with exceptions); (4) application approval criteria, including priority for target areas with low incomes and high unemployment; (5) availability of lines of credit; (6) authorized uses of lines of credit and of revolving loan funds; (7) limitations on use of funds; (8) local contributions; and (9) use of proceeds from investments.

Requires the Secretary to give priority in providing lines of credit under this Act to CDCs that propose to undertake economic development activities in distressed communities that target women, Native Americans, at-risk youth, farmworkers, population-losing communities, very low-income communities, single mothers, veterans, or refugees and programs providing loans in limited amounts to very small business enterprises. Allows not less than five percent of program appropriations to be reserved for such priority activities.

Establishes a program for emerging community development corporations (CDCs). Directs the Secretary to award: (1) skill enhancement grants to community development corporations to attain or enhance the business management and development skills of the individuals that manage such CDCs, in order to enable such CDCs, to seek the public and private resources necessary to develop community economic projects; and (2) operating grants to community development corporations to enable them to support an administrative capacity for planning, developing, and management of low-income community development projects. Sets forth authorized uses and maximum amounts of, and application requirements for, such grants.

Authorizes the Secretary to award grants to emerging CDCs to enable them to establish, maintain, or expand revolving loan funds, to make or guarantee loans, or to make capital investments in new or expanding local businesses. Sets forth eligibility requirements, authorized uses of such revolving loan funds and of proceeds from investments, and maximum grant amount.

Establishes a community economic development research and demonstration program. Directs the Secretary to award grants to enable eligible organizations to undertake programs involving research, testing, studies, or demonstrations related to community economic development. Makes eligible for such grants, if they submit appropriate applications, the following entities: CDCs, universities, fiscal intermediaries, or nonprofit organizations involved in community-based economic development. Sets forth authorized uses and maximum amount of such grants.

Directs the Secretary to promulgate regulations to permit the operation of appropriate joint programs to coordinate activities under this Act with community economic development activities assisted by other programs administered by the Secretary and other Federal agency heads.

Authorizes appropriations for FY 1993 through 1995 for: (1) the community economic partnership investment funds program; (2) the emerging CDCs program; and (3) the research demonstration program. Prohibits funds authorized under this Act from being used to finance the construction of housing.