[Congressional Bills 103th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3683 Introduced in House (IH)]

103d CONGRESS
  1st Session
                                H. R. 3683

 To amend the Community Reinvestment Act of 1977 to permit any loan by 
 an insured depository institution the proceeds of which are used for 
the certified rehabilitation of a certified historical structure to be 
taken into account in connection with an assessment of such institution 
                       for purposes of such Act.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                           November 22, 1993

   Mr. Peterson of Florida 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 permit any loan by 
 an insured depository institution the proceeds of which are used for 
the certified rehabilitation of a certified historical structure to be 
taken into account in connection with an assessment of such institution 
                       for purposes of such Act.

    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 Credit for 
Historical Preservation''.

SEC. 2. CRA CREDIT FOR CERTAIN HISTORIC TRUST PRESERVATION FINANCING.

    Section 804 of the Community Reinvestment Act of 1977 (12 U.S.C. 
2903) is amended by adding at the end the following new subsection:
    ``(c) Historic Trust Preservation Financing.--In assessing and 
taking into account, under subsection (a), the record of a regulated 
financial institution, the appropriate Federal financial supervisory 
agency shall consider loans made by the institution the proceeds of 
which were used for certified rehabilitations of certified historic 
structures (as such terms are defined in section 47(c) of the Internal 
Revenue Code of 1986).''

                                 <all>