Small Communities Planning, Development, and Training Act

Small Communities Planning, Development, and Training Act - Title I: Community Development Bank - Creates an independent agency known as the Community Development Bank with a board of directors of 14 persons, one of whom shall be the President of the bank. Provides that the President, by and with the advice and consent of the Senate, shall appoint the President of the bank and the directors, no more than three of whom shall be officers or employees of the United States and at least seven of whom shall be identified with or representatives of State or local government.

Provides that the president of the bank shall serve at the pleasure of the President. Authorizes the appropriation of $1,000,000 to the Secretary of Housing and Urban Development to pay the initial organizing and operating expenses of the bank. Authorizes the bank to make commitments to purchase, and to purchase, service, or sell on terms and conditions determined by the bank, any obligation of a State or local government which is not exempt from Federal taxation. Makes similar provision for the purchase of evidences of indebtedness making loans to any private nonprofit organization or association representing a community under applicable State or local law. Permits purchases or loans to be made only for the purpose of financing capital expenditures. Provides that priority shall be given to small communities. Limits obligations or loans to 40 year maturities bearing interest at a rate not less than 2/3 of the current average yield or outstanding obligations of the bank for the month preceding the date on which the loan or purchase is made.

Authorizes the bank to issue obligations totaling $5,000,000,000 initially with an additional $5,000,000,000 on July 1, 1973, and another $5,000,000,000 on July 1, 1974. Authorizes the Secretary of the Treasury to purchase obligations of the bank by utilizing proceeds of the sale of securities under the Second Liberty Bank Act. Provides that receipts and disbursements of the banks shall be exempt from any annual expenditure and net lending limitations imposed on the budget. Provides for annual reports from the President to the Congress on program and administrative activities of the bank.

Authorizes the Secretary of Housing and Urban Development to make payments to the bank to cover the difference between interest paid and interest received on bank obligations. Authorizes the appropriation of necessary funds for this purpose.

Sets forth the powers of the bank including the power to sue or be sued and the power to issue bylaws rules and regulations and to adopt a corporate seal.

Authorizes the bank to provide technical assistance to State and local governments in preparing and implementing comprehensive development projects and programs. Permits the charging of fees for such services.

Provides for an audit of the bank by the General Accounting Office.

Provides that the real and tangible personal property of the bank shall be subject to ad valorem taxes and that the principal and interest of all obligations of the bank shall be taxed to the same extent as the obligations of private corporations. Makes the bank otherwise tax exempt. Makes the obligations of the bank lawful investments which may be accepted as security and exempts such obligations from the laws administered by the Securities and Exchange Commission.

Title II: Public Facility Loan Program Amendments - Authorizes the Secretary of Housing and Urban Development, as an alternative to existing programs of assistance, to guarantee the bonds and other obligations of political subdivisions or instrumentalities of the States which are not exempt from Federal taxation. Permits annual grants equal to 40 percent of the annual interest on such obligations. Pledges the full faith and credit of the United States to the payment of such guarantees.

Authorizes the Secretary to take such steps as he considers reasonable to assure that obligations guaranteed under this section will: (1) be issued to investors approved by, or meeting requirements prescribed by, the Secretary, or if an offering to the public is contemplated, be underwritten upon terms and conditions approved by the Secretary; (2) bear interest at a rate satisfactory to the Secretary; (3) contain or be subject to repayment, maturity, and other provisions satisfactory to the Secretary; and (4) contain or be subject to provisions with respect to the protection of the security interests of the United States, including any provisions deemed appropriate by the Secretary relating to subrogation, liens, and releases of liens, payment of taxes, cost certification procedures, escrow or trusteeship requirements or other matters.

Authorizes the Secretary to establish a separate revolving fund to provide for: (A) the timely payment of any liabilities incurred as the result of guarantees or grants; (B) the payment of obligations issued to the Secretary of the Treasury; and (C) any other program expenditures under this section, including administrative and nonadministrative expenses. Provides that such revolving fund shall be comprised of: (A) receipts from fees and charges; (B) recoveries under security, subrogation, and other rights; (C) any other receipts obtained in connection with guarantees made under this section; (D) proceeds of the obligations issued to the Secretary of the Treasury; and (E) such sums as are authorized to be appropriated.

Authorizes the Secretary to issue obligations to the Secretary of the Treasury, who is authorized to purchase such obligations, for the purpose of carrying out the above functions. Limits outstanding principal obligations to $200,000,000.

Title III: Community Development Block Grants - Makes it the purpose of the title to further the development of a national growth policy by consolidating a number of complex and overlapping programs of financial assistance to communities of varying sizes and needs into a single, consistent system of Federal aid which: (1) is funded in advance on a regular basis upon which communities can rely in their planning; (2) can provide assistance on an annual basis with maximum certainty and efficiency and minimum delay; (3) encourages community development activities which are consistent with comprehensive local and areawide development planning; and (4) furthers the achievement of the national housing goal of a decent home and a suitable living environment for every American family.

Authorizes the Secretary to make annual grants to units of general local government to help finance approved Community Development Programs. Limits such grants to 90 percent of the cost of the program.

Sets forth the requirements for eligibility for such grants.

Provides that a Community Development Program assisted under this title may include: (1) the acquisition of real property (including air rights, water rights, and other interests therein) which is: (A) blighted, deteriorated, deteriorating, undeveloped, or inappropriately developed from the standpoint of sound community development and growth; (B) necessary for the preservation or restoration of historic sites, the beautification of land, the conservation of open spaces, natural resources, and scenic areas, the provision of recreational opportunities, or the guidance of development; (C) to be used for the provision of public works, facilities, and improvements eligible for assistance under this title; or (D) to be used for other public purposes; (2) the acquisition, construction, reconstruction, or installation of public works, facilities, and site or other improvements-including water and sewer facilities, neighborhood facilities, historic properties, utilities, streets, street lights, foundations and platforms for air right sites, pedestrian malls and walkways, parks, and playgrounds; (3) code enforcement in deteriorated or deteriorating areas in which such enforcement, together with those public improvements to be provided, may be expected to arrest the decline of the area; (4) clearance, demolition, removal, and rehabilitation of buildings and improvements (including financing of the rehabilitation of privately owned properties); (5) payments to housing owners for losses of rental income incurred in holding for temporary periods housing units to be utilized for the relocations of individuals and families displaced by program activities; (6) disposition (through sale, lease, donation, or otherwise) of any real property acquired pursuant to this title or its retention for public purposes; (7) provision of health, social, and similar services where the Secretary deems it necessary to properly support other approved community development activities; and (8) such other projects or activities assisted under a Federal grant-in-aid program as the Secretary approves as part of a community development program.

Authorizes the Secretary to make grant agreements for metropolitan areas in amounts aggregating not more than $7,500,000,000. Authorizes the appropriation of $2,000,000,000 prior to July 1, 1973, to liquidate the obligations so incurred. Increases this amount to $4,500,000,000 prior to July 1, 1974 and to $7,500,000,000 thereafter. Authorizes the appropriation of $5,000,000,000 for each of fiscal years 1973, 1974, and 1975 for grants to States and units of general local government outside metropolitan areas.

Provides that distributions to metropolitan areas shall be based on a formula of population, poverty, and overcrowding. Provides that distributions to cities within each metropolitan area shall be based on the same formula. Provides that in making distributions to States and local governments in nonmetropolitan areas the Secretary shall consider plans and ideas for community development programs as well as such factors as population, amount of poverty, overcrowding, and housing deficiencies and other social and fiscal conditions.

Title IV: National Community Affairs Institute - Directs the Secretary to establish a National Community Affair Institute which shall have as its purpose the development and revitalization of small communities. Provides that the Institute shall be headed by a board of directors which shall be chaired by the Librarian of Congress.

Title V: Fellowships for Small Community Planning and Development - Authorizes the Secretary to provide fellowships for graduate training of professional technicians and specialists in the field of small community planning and development.