To enhance the availability of credit to businesses in order to foster economic growth and stabilization and to create new employment opportunities in communities facing economic distress, and for other purposes.
Economic Growth and Stabilization Financing Demonstration Act 1994 - Prescribes guidelines under which the Secretary of Commerce may conduct demonstration programs in economically distressed communities to: (1) guarantee loans made by lending institutions to private parties; (2) pay interest rate subsidies; (3) implement an equity financing program; and (4) provide secondary market credit enhancements to pools of financial instruments related to economic growth and stabilization in such communities.
Directs the Secretary to conduct performance evaluations and submit an annual status report to the Congress.
Authorizes appropriations.
Introduced in House
Introduced in House
Referred to the House Committee on Banking, Finance + Urban Affrs.
Sponsor introductory remarks on measure. (CR E1479)
Referred to the Subcommittee on Economic Growth and Credit Formation.
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