American Cities Investment Act of 1996 - Amends the Housing and Community Development Act of 1974 to: (1) set limitations on maximum outstanding loan guarantees issued by the Secretary of Housing and Urban Development; (2) authorize the Secretary to guarantee advances from Federal Home Loan Banks; and (3) expand the community participation requirements to include major stakeholders.
Amends the Federal Home Loan Bank Act to authorize advances to units of local government for community development purposes pursuant to such loan guarantees.
Introduced in House
Introduced in House
Referred to the House Committee on Banking and Financial Services.
Referred to the Subcommittee on Capital Markets, Securities and Government Sponsored Enterprises.
Referred to the Subcommittee on Housing and Community Opportunity.
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