HR 1555 · 105th Congress · Housing and Community Development

American Cities Investment Act of 1997

Introduced 1997-05-08· Sponsored by Rep. Fattah, Chaka [D-PA-2]· House

Bill Progress

✓
Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to the Subcommittee on Housing and Community Opportunity.(1997-05-30)

Plain Language Summary

[AI summary unavailable — showing source text] American Cities Investment Act of 1997 - 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 (as defined by this Act). Amends the Federal Home Loan Bank Act to authorize advances to metropolitan cities, urban counties, or their public agencies for certain extraordinary, nonusual community development purposes pursuant to such loan guarantees. Prohibits the use of such funds to supplant Federal or non-federal fund sources. Sets forth amount limit and repayment provisions.…

Summarized by Claude AI · Non-partisan · For informational purposes only

Cosponsors (20)

20 Democrats
Rep. Conyers, John, Jr. [D-MI-14]MI
Rep. Jackson-Lee, Sheila [D-TX-18]TX
Rep. Meek, Carrie P. [D-FL-17]FL
Rep. McKinney, Cynthia A. [D-GA-4]GA
Rep. Johnson, Eddie Bernice [D-TX-30]TX
Del. Norton, Eleanor Holmes [D-DC-At Large]DC
Rep. Payne, Donald M. [D-NJ-10]NJ
Rep. Frost, Martin [D-TX-24]TX
Rep. Rush, Bobby L. [D-IL-1]IL
Rep. Clay, William (Bill) [D-MO-1]MO
Rep. Davis, Danny K. [D-IL-7]IL
Rep. Clayton, Eva M. [D-NC-1]NC
Rep. Barrett, Thomas M. [D-WI-5]WI
Rep. Thompson, Bennie G. [D-MS-2]MS
Rep. Ford, Harold E., Jr. [D-TN-9]TN
Rep. Jefferson, William J. [D-LA-2]LA
Rep. Carson, Julia [D-IN-10]IN
Rep. Blumenauer, Earl [D-OR-3]OR
Rep. Gephardt, Richard A. [D-MO-3]MO
Rep. Clyburn, James E. [D-SC-6]SC