Community Development Financial Institutions Act of 1993

Summary

TABLE OF CONTENTS: Title I: National Community Development Administration Title II: Certification Programs Title III: Assistance to Community Development Financial Institutions Subtitle A: Assistance to Existing Community Development Financial Institutions Subtitle B: Assistance to Establish Community Development Financial Institutions Title IV: Assistance for Community Development Secondary Market Institutions Title V: Community Development Individual Investment Certificates Community Development Financial Institutions Act of 1993 - Title I: National Community Development Administration - Establishes the National Community Development Administration (Administration) to: (1) assist financial institutions in providing credit and promoting comprehensive community development in low-income communities; (2) assist secondary market institutions to purchase and securitize loans, increase investment liquidity, and improve the distribution of investment capital for community development financing; and (3) promote the use of community Development Individual Investment Certificates (authorized by this Act). Authorizes appropriations. Title II: Certification Programs - Requires the Administration to implement a certification program for: (1) community development financial institutions; and (2) technical assistance providers to community development financial and secondary market institutions. Title III: Assistance to Community Development Financial Institutions - Subtitle A: Assistance to Existing Community Development Financial Institutions - Directs the Administration to assist existing community development financial institutions in implementing financing initiatives and obtaining technical assistance for broad-based, long-range community development in target communities. Identifies: (1) activities eligible for such assistance; and (2) criteria for financial initiatives. Requires community development financial institutions to contribute matching funds from non-Federal sources. Subtitle B: Assistance to Establish Community Development Financial Institutions - Directs the Administration to assist nonprofit and for-profit organizations to establish community development financial institutions whose purpose shall be to finance specified community development activities. Title IV: Assistance for Community Development Secondary Market Institutions - Directs the Administration to assist secondary market institutions to: (1) establish a secondary market for community development loans; (2) increase the liquidity of community development investments; and (3) improve the distribution of investment capital available for community development financing. Prescribes eligible use of such assistance. Requires such secondary market institutions to contribute matching funds from non-Federal sources. Authorizes the Administration to issue tax-exempt bonds to finance such secondary market institutions. Title V: Community Development Individual Investment Certificates - Prescribes guidelines for the issuance by any community development bank or credit union of certificates of indebtedness to be known as Community Development Individual Investment Certificates.

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Timeline

1. 25 May 1993

   Introduced

   Referred to the House Committee on Banking, Finance + Urban Affrs.

   Source: IntroReferral

2. 25 May 1993

   Introduced

   Sponsor introductory remarks on measure. (CR H2782)

   Source: IntroReferral

3. 25 May 1993

   Introduced

   Introduced in House

   Source: IntroReferral

4. 25 May 1993

   Introduced

   Introduced in House

   Source: IntroReferral

5. 15 June 1993

   Referred

   Referred to the Subcommittee on Economic Growth and Credit Formation.

   Source: Committee

Votes

No vote records are attached yet.

Versions

• Introduced in House · 25 May 1993 · Download file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 25 May 1993

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 25 May 1993

  ViewDownloadOpen at official source

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• Introduced in House

  summary · EN · 25 May 1993

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  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

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Sponsors

• Rep. Rush, Bobby L. [D-IL-1] · D · Sponsor
• Rep. Frank, Barney [D-MA-4] · D · Sponsor
• Rep. Dellums, Ronald V. [D-CA-9] · D · Sponsor
• Rep. Lewis, John [D-GA-5] · D · Sponsor
• Rep. Ford, Harold E. [D-TN-9] · D · Sponsor
• Rep. Evans, Lane [D-IL-17] · D · Sponsor
• Sen. Durbin, Richard J. [D-IL] · D · Sponsor
• Rep. Collins, Cardiss [D-IL-7] · D · Sponsor
• Rep. Furse, Elizabeth [D-OR-1] · D · Sponsor
• Rep. Jefferson, William J. [D-LA-2] · D · Sponsor
• Sen. Cantwell, Maria [D-WA] · D · Sponsor
• Rep. Clayton, Eva M. [D-NC-1] · D · Sponsor
• Del. Norton, Eleanor Holmes [D-DC-At Large] · D · Sponsor
• Rep. Berman, Howard L. [D-CA-28] · D · Sponsor
• Rep. Johnson, Eddie Bernice [D-TX-30] · D · Sponsor
• Rep. Watt, Melvin L. [D-NC-12] · D · Sponsor
• Rep. Wynn, Albert Russell [D-MD-4] · D · Sponsor
• Rep. Roybal-Allard, Lucille [D-CA-40] · D · Sponsor
• Rep. Maloney, Carolyn B. [D-NY-12] · D · Sponsor
• Rep. Hinchey, Maurice D. [D-NY-22] · D · Sponsor
• Rep. Scott, Robert C. "Bobby" [D-VA-3] · D · Sponsor
• Rep. Tucker, Walter R., III [D-CA-37] · D · Sponsor
• Rep. Reynolds, Mel [D-IL-2] · D · Sponsor
• Rep. Blackwell, Lucien E. [D-PA-2] · D · Sponsor
• Rep. Velázquez, Nydia M. [D-NY-7] · D · Sponsor
• Rep. Richardson, Bill [D-NM-3] · D · Sponsor
• Sen. Brown, Sherrod [D-OH] · D · Sponsor
• Rep. Brown, Corrine [D-FL-5] · D · Sponsor
• Rep. Clyburn, James E. [D-SC-6] · D · Sponsor
• Rep. Barrett, Thomas M. [D-WI-5] · D · Sponsor
• Rep. Meek, Carrie P. [D-FL-17] · D · Sponsor
• Rep. Filner, Bob [D-CA-51] · D · Sponsor
• Rep. Hastings, Alcee L. [D-FL-20] · D · Sponsor
• Rep. Fields, Cleo [D-LA-6] · D · Sponsor
• Rep. Towns, Edolphus [D-NY-10] · D · Sponsor
• Sen. Menendez, Robert [D-NJ] · D · Sponsor
• Rep. Green, Gene [D-TX-29] · D · Sponsor
• Rep. Pastor, Ed [D-AZ-4] · D · Sponsor
• Rep. Bishop, Sanford D. [D-GA-2] · D · Sponsor
• Rep. McKinney, Cynthia A. [D-GA-4] · D · Sponsor
• Rep. Nadler, Jerrold [D-NY-12] · D · Sponsor
• Rep. Eshoo, Anna G. [D-CA-18] · D · Cosponsor
• Rep. Frost, Martin [D-TX-24] · D · Cosponsor
• · hsba00 · Standing
• · hswm00 · Standing

Related records

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