To stimulate private investment, economic development, and the creation of jobs in the private sector by authorizing the Secretary of the Treasury to participate in loans, and guarantee a portion of loans, made by banks and other qualified lenders for businesses with potential for expansion and growth and for other viable economic development projects, and for other purposes.
Economic Revitalization Act of 1994 - Amends Federal law to set forth conditions under which the Secretary of the Treasury may: (1) participate in and guarantee loans made by certain participating financial institutions to specified sound business enterprises ("qualified loans"); and (2) issue securities backed by a pool of qualified loans acquired by the Secretary for such purpose.
Introduced in House
Introduced in House
Referred to the House Committee on Banking, Finance + Urban Affrs.
Referred to the Subcommittee on Economic Growth and Credit Formation.
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