H.R.6188 - Lower Mississippi Delta Development Financing Corporation Act102nd Congress (1991-1992)
|Sponsor:||Rep. Espy, Mike [D-MS-2] (Introduced 10/06/1992)|
|Committees:||House - Banking, Finance, and Urban Affairs|
|Latest Action:||House - 10/07/1992 Referred to the Subcommittee on Economic Stabilization. (All Actions)|
This bill has the status Introduced
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Summary: H.R.6188 — 102nd Congress (1991-1992)All Information (Except Text)
Introduced in House (10/06/1992)
Lower Mississippi Delta Development Financing Corporation Act - Establishes the Lower Mississippi Delta Development Financing Corporation (the Corporation) as a federally chartered private corporation, under the management of a board of directors appointed by the President, with the advice and consent of the Lower Mississippi Delta Region congressional delegation. Requires the Corporation to develop strategies and provide financial and technical assistance for building and expanding the economic base of the lower Mississippi delta region and communities within it.
Sets forth the Corporation's powers, including acquiring the shares of insured depository institutions and holding companies located in the lower Mississippi delta region (passive investments).
Authorizes appropriations to the President to make grants to the Corporation to implement this Act.
Requires the Corporation to: (1) establish an advisory committee; and (2) report annually to the Congress.