National Community Economic Partnership Act of 1993

Summary

TABLE OF CONTENTS: Title I: Community Economic Partnership Investment Funds Title II: Emerging Community Development Corporations Title III: Research and Demonstration Title IV: Miscellaneous Provisions National Community Economic Partnership Act of 1993 - Title I: Community Economic Partnership Investment Funds - Establishes a program of community economic partnership investment funds. Authorizes the Secretary of Health and Human Services to provide nonrefundable lines of credit to community development corporations (CDCs) to establish, maintain, or expand revolving loan funds to finance projects to: (1) provide business and employment opportunities for low-income and unemployed individuals; and (2) improve the quality of life in urban and rural areas. Sets forth requirements relating to such revolving loan funds, including: (1) competitive assessment of applications from eligible entities for capitalization of such funds; (2) applications including strategic investment plans and demonstrations of experience and achievement; (3) matching local funds (with exceptions); and (4) local and private sector contributions. Requires the Secretary to give priority in providing lines of credit to: (1) CDCs that propose to undertake economic development activities in distressed communities that target women, Native Americans, at-risk youth, farmworkers, population-losing communities, very low-income communities, single mothers, veterans, and refugees, or that expand employee ownership of private enterprises and small businesses; and (2) programs providing loans in limited amounts to very small business enterprises. Reserves certain funds for such priority activities. Title II: Emerging Community Development Corporations - Establishes a program for emerging community development corporations (CDCs). Directs the Secretary to award skill enhancement grants and operating grants to CDCs. Authorizes the Secretary to award grants to emerging CDCs to enable them to establish, maintain, or expand revolving loan funds, to make or guarantee loans, or to make capital investments in new or expanding local businesses. Title III: Research and Demonstration - Establishes a community economic development research and demonstration program. Directs the Secretary to award grants to enable eligible organizations to undertake programs involving research, testing, studies, or demonstrations related to community economic development. Title IV: Miscellaneous Provisions - Directs the Secretary to promulgate regulations to permit the operation of appropriate joint programs to coordinate activities under this Act with community economic development activities assisted by other programs administered by the Secretary and other Federal agency heads. Authorizes appropriations for: (1) the community economic partnership investment funds program; (2) the emerging CDCs program; and (3) the research demonstration program. Prohibits funds authorized under this Act from being used to finance the construction of housing. Provides that this Act shall take effect as if included in the Omnibus Budget Reconciliation Act of 1990.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

No timeline events have been ingested for this record yet.

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 27 January 1993

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 27 January 1993

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 27 January 1993

  Open at official source

Sponsors

No sponsors or actors listed by the source.

Related records

No cross-record relationships stored yet.