To amend the Housing and Community Development Act of 1974 and the Federal Home Loan Bank Act to authorize Federal Home Loan Banks to make advances for community development activities to units of general local government and for such advances to be guaranteed by community development block grant amounts to which such units of local government become eligible, to expand the community participation requirements relating to community development loan guarantees to include participation of major community stakeholders, and for other purposes.
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.
checking server…
Ask anything about this bill. The AI reads the full text to answer.
Enter to send · Shift+Enter for new line