H.R. 629 (106th): Community Development Financial Institutions Fund Amendments Act of of 1999

Introduced:
Feb 08, 1999 (106th Congress, 1999–2000)
Sponsor:
Rep. Bruce Vento [D-MN4]
Status:
Died (Reported by Committee)

The bill’s title was written by the bill’s sponsor. H.R. stands for House of Representatives bill.

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Status

This bill was introduced on May 26, 1999, in a previous session of Congress, but was not enacted.

Progress
Introduced Feb 08, 1999
Reported by Committee May 26, 1999
Cosponsors
22 cosponsors (19D, 3R) (show)
Committees

House Financial Services

The committee chair determines whether a bill will move past the committee stage.

Full Title

To amend the Community Development Banking and Financial Institutions Act of 1994 to reauthorize the Community Development Financial Institutions Fund and to more efficiently and effectively promote economic revitalization, community development, and community development financial institutions, and for other purposes.

Summary

No summaries available.

Text

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Last updated Jun 14, 1999.
17 pages

Primary Source

View on THOMAS (The Library of Congress)

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Citation

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GovTrack’s Bill Summary

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Library of Congress Summary

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.

2/8/1999--Introduced.
Community Development Financial Institutions Fund Amendments Act of 1999 - Modifies the Community Development Banking and Financial Institutions Act of 1994 (the Act) to expand its purposes to include promotion of economic revitalization and community development through incentives to insured depository institutions that increase lending and other assistance and investment in both economically distressed communities and community development financial institutions.
Section 2 -
Places the Community Development Financial Institutions Fund in the Department of the Treasury and all Fund functions under the supervision of the Secretary of the Treasury.
Section 3 -
Authorizes the Fund to offer community development finance activity training programs through grants or cooperative agreements with other organizations (as well as directly or through contracts).
Section 4 -
Authorizes appropriations for FY 2000 through 2003.
Section 6 -
Requires the Fund to: (1) develop a scoring system which assigns a relative point value to each factor required in connection with applicant selection criteria; (2) convene multiperson review panels to review applications on the basis of such factors and the scoring system; and (3) include in its annual report specified contract and compliance information, as well as a complete description of the implementation of the scoring system and its methodology. Directs the Comptroller General to report to the Congress on Fund structure, governance, and performance.

House Republican Conference Summary

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No summary available.

House Democratic Caucus Summary

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The bill contains the following citations to other parts of U.S. law:

United States Code

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