[Congressional Bills 110th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1999 Introduced in House (IH)]







110th CONGRESS
  1st Session
                                H. R. 1999

To authorize appropriations for assistance for the National Council of 
                 La Raza and the Raza Development Fund.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             April 23, 2007

Mr. Hinojosa (for himself and Mr. Renzi) introduced the following bill; 
       which was referred to the Committee on Financial Services

_______________________________________________________________________

                                 A BILL


 
To authorize appropriations for assistance for the National Council of 
                 La Raza and the Raza Development Fund.

    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 ``Hope Fund Act of 2007''.

SEC. 2. ASSISTANCE FOR NATIONAL COUNCIL OF LA RAZA AND RAZA DEVELOPMENT 
              FUND.

    (a) Use.--The Secretary of Housing and Urban Development shall, to 
the extent amounts are made available pursuant to subsection (b), make 
a grant to the National Council of La Raza for the purpose of providing 
technical and financial assistance to local non-profit organizations to 
undertake community development and affordable housing projects and 
programs serving low- and moderate-income households, particularly 
through organizations located in neighborhoods with substantial 
populations of income-disadvantaged households of Hispanic origin. 
Assistance provided by the Secretary under this section may be used by 
the National Council of La Raza or the Raza Development Fund to--
            (1) provide technical and financial assistance for site 
        acquisition and development, construction financing, and short- 
        and long-term financing for housing, community facilities, and 
        economic development;
            (2) leverage capital from private entities, including 
        private financial institutions, insurance companies, and 
        private philanthropic organizations;
            (3) provide technical assistance, training, support, and 
        advice to develop the management, financial, and administrative 
        capabilities of housing development organizations serving low-
        income households, including Hispanic households; and
            (4) conduct such other activities as may be determined by 
        the Secretary and the National Council of La Raza.
    (b) Authorization of Appropriations.--There is authorized to be 
appropriated for grants under this section--
            (1) $5,000,000 for fiscal year 2008; and
            (2) $10,000,000 for each fiscal year thereafter.
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