H.R.4822 - American Communities Investment Act of 1999 106th Congress (1999-2000)
Summary: H.R.4822 — 106th Congress (1999-2000)
American Communities Investment Act of 1999 - Amends the Housing and Community Development Act of 1974 to revise requirements for the maximum amount of outstanding loan guarantees for a single issuer in connection with community development. Mandates participation of the major stakeholders in the community in which activities funded with guaranteed obligations will be implemented.
Introduced in House (07/11/2000)
Amends the Federal Home Loan Bank Act to set forth parameters within which: (1) Federal home loan banks may make advances to a nonmember mortgagee for community lending purposes; and (2) each Federal home loan bank shall establish a Community Lending Fund to facilitate community lending by its members and nonmember mortgagees.