American Cities Investment Act of 1997

Summary

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.

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Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 8 May 1997

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• Introduced in House (PDF)

  Introduced in House · EN · 8 May 1997

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• Introduced in House

  summary · EN · 8 May 1997

  Open at official source

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