HR 16033 · 93th Congress · Credit

Credit Allocation Incentive Act

Introduced 1974-07-22· Sponsored by Rep. Patten, Edward J. [D-NJ-15]· House

Bill Progress

✓
Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to House Committee on Banking and Currency.(1974-07-22)

Plain Language Summary

[AI summary unavailable — showing source text] Credit Allocation Incentive Act - Defines, under the Federal Reserve Act, "National Priority Loans and Investments" to include any loan or investment for: (1) useful capital investments; (2) lower middle-income housing; or (3) small businesses. Permits the requirement of a supplemental reserve by member banks which will not take outstanding National Priority Loans and Investments into consideration in its computation.…

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