Neighborhood Reinvestment Corporation Act
Latest action. Referred to House Committee on Banking, Finance and Urban Affairs.
Neighborhood Reinvestment Corporation Act - Declares it to be the purpose of this Act to establish a public corporation to continue the efforts of Federal financial supervisory agencies and the Department of Housing and Urban Development to promote reinvestment in older neighborhoods by local financial institutions working cooperatively with community people and local government and to continue the nonbureaucratic approach of the Urban Reinvestment Task Force. Establishes the National Neighborhood Reinvestment Corporation. Names the board of directors of the Corporation. Opens all meetings of the board to public observation unless a board majority votes to close a specific meeting. Empowers the Corporation to continue the work of the Urban Reinvestment Task Force in establishing Neighborhood Housing Services Programs, in providing grants and technical assistance to selected neighborhood preservation projects, and in supporting Neighborhood Housing Services of America. Requires the Corporation, in making grants, to determine reporting and management restrictions or requirements on recipients and to assure that recipients make information necessary to determine compliance with Federal laws available to the Corporation. Enumerates the Corporation's powers, including the power to invest funds of the Corporation. Authorizes specified Federal departments and Federal banks to provide services to the Corporation with or without reimbursement. Directs the Corporation to publish an annual report to the President and the Congress. Requires an annual audit of the Corporation. Authorizes appropriations through fiscal year 1981 to carry out the purposes of this Act. Requires the Corporation to prepare annual business-type budgets for submission to the Office of Management and Budget. Requires inclusion of such budget as part of the President's annual budget to Congress.
Written by analysts at the Congressional Research Service and published on Congress.gov, not by Civibrief. Summarized at the "Introduced in House" stage on March 22, 1978. It describes the bill, it is not the legal text.
Where is it in the process, and what happens next?
4 steps remain before this bill could become law.
The record's latest action, on March 22, 1978: Referred to House Committee on Banking, Finance and Urban Affairs.
- Clearing the committees it was referred to, and being scheduled for a floor vote
- Passage by the House
- Passage by the Senate
- The President's signature. If the President vetoes it, two-thirds of both chambers must vote to override.
How likely is it to become law?
Civibrief does not forecast outcomes and this page has no opinion about this one. What the record supports is a base rate, which is a fact about the whole pile, not a prediction about this measure.
In the 95th Congress (1977-78), 633 of the 19,387 bills and joint resolutions introduced became law, about 3.3 percent. That count covers every measure at every stage, including the many that never left committee.
This one is not there yet: 4 steps are still outstanding, listed above.
Has anyone actually voted on it?
No. No roll call in this Congress cites this measure. That is the ordinary outcome: most measures never reach a recorded floor vote, and a committee ends most of them simply by not acting.
A vote is not the only thing that happens to a measure. Hearings, markups, and referrals are all recorded actions, and none of them is a vote of the full chamber.
Who is behind it?
STEWART MCKINNEY (R-CT) introduced it on March 22, 1978, and 2 members have since signed on as cosponsors.
They are 2 Republicans.
Cosponsoring is a formal signature on the text. It is not a commitment to vote for the measure, it does not bind anyone's party, and a long list of cosponsors is a measure of attention rather than of prospects.
How long has it been in play?
It was introduced on March 22, 1978, 17704 days ago. The most recent recorded action was 17704 days ago, on March 22, 1978.
Measures do not carry over. Anything the 95th Congress has not finished by January 3, 1979 dies when the term ends, and has to be introduced again from the start in the next Congress.
Every answer above is assembled from this measure's own record on Congress.gov and from published counts of what Congress has passed before. Civibrief does not predict outcomes and takes no position on any measure.
Vote history
- HouseIn committee, no floor vote yet
- SenateAwaits House passage
- PresidentAwaits both chambers