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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3 official files

• Introduced in House (text)

  Introduced in House · EN · 25 May 1993

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• Introduced in House (PDF)

  Introduced in House · EN · 25 May 1993

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• Introduced in House

  summary · EN · 25 May 1993

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