HR 5149 Re-checks Congress.gov for new actions and updates the bill's status, and fills in any sponsors, committees, or related bills that are missing. It does not re-pull sponsors/cosponsors/committees/related — those rarely change — and it skips all work if nothing has changed upstream, so it's cheap to click.
Community Reinvestment Enhancement Act of 1994
H. R. 5149 To amend the Community Reinvestment Act of 1977 to enhance the flow of investment capital for low- and moderate-income housing in low- and moderate-income neighborhoods.
Summary
This bill amends the Community Reinvestment Act of 1977 to expand the definition of neighborhoods where banks must invest in low- and moderate-income housing. The bill adds targeted low- and moderate-income neighborhoods designated by Federal or State banking supervisory agencies to the list of covered areas under the Community Reinvestment Act. This allows banking regulators to identify specific neighborhoods for reinvestment priorities, in addition to neighborhoods where banks are chartered. The bill also defines "State bank supervisor" to match the definition in the Federal Deposit Insurance Act.
AI-generated plain-language summary of the bill text — neutral, and may be imperfect. See the full text below for the exact wording.
Sponsor (1)
Actions (4)
- Oct 6, 1994 Referred to the Subcommittee on Housing and Community Development. · house
- Oct 6, 1994 Referred to the Subcommittee on Consumer Credit and Insurance. · house
- Sep 30, 1994 Referred to the House Committee on Banking, Finance + Urban Affrs. · house
- Sep 30, 1994 Introduced in House
Similar bills (6)
Bills with similar text or summary — includes reintroductions across Congresses. Ranked by semantic similarity of the bill text (computed locally); a neutral discovery aid, not a claim the bills are duplicates.
Full text
IN THE HOUSE OF REPRESENTATIVES
September 30, 1994
Mr. Klein introduced the following bill; which was referred to the Committee on Banking, Finance and Urban Affairs
A BILL
To amend the Community Reinvestment Act of 1977 to enhance the flow of investment capital for low- and moderate-income housing in low- and moderate-income neighborhoods.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the “Community Reinvestment Enhancement Act of 1994”.
SEC. 2. AMENDMENTS TO COMMUNITY REINVESTMENT ACT OF 1977.
(a) In General.—Section 804(a)(1) of the Community Reinvestment Act of 1977 (12 U.S.C. 2903(a)(1)) is amended by inserting “or of targeted low- and moderate-income neighborhoods designated by the appropriate Federal financial supervisory agency or the appropriate State bank supervisor” after “neighborhoods,”.
(b) Amendment to Purposes.—Section 802(b) of the Community Reinvestment Act of 1977 (12 U.S.C. 2901(b)) is amended by inserting “or of targeted low- and moderate-income neighborhoods designated by the appropriate Federal financial supervisory agency or the appropriate State bank supervisor” after “chartered”.
(c) Amendment to Definitions.—Section 803 of the Community Reinvestment Act of 1977 (12 U.S.C. 2902) is amended by adding at the end the following new paragraph:
“(5) State bank supervisor.—The term “State bank supervisor” has the same meaning as in section 3(r) of the Federal Deposit Insurance Act.”. <all>
Comments