(1) education and training regarding manage-
ment and operation of the lenders, including design-
ing and utilizing lending practices to target credit to
low-income families and neighborhoods, complying
with financial and accounting standards under the
agreement for the lender under section 1517, and
implementing effective asset management and fund
development techniques;
(2) collecting and disseminating information
from various community development lenders re-
garding successful management and operation tech-
niques, lending practices, and lending activities; and
(3) training personnel of lenders to meet re-
quirements under section 1515(f).
(c) PROVISION OF ASSISTANCE.—The Secretary may
provide technical assistance under this section directly or
through public or private organizations pursuant to con-
tracts with such organizations or grants to such organiza-
tions.
(d) ADMINISTRATION.—The Secretary may provide
for making technical assistance under this section avail-
able to community development lenders and eligible enti-
ties that receive assistance under section 1514 pursuant
to a request for such assistance in an application under
section 1516, approval of the application, and the inclu-
sion of terms in the assistance agreement under section
1517 providing for such assistance.
SEC. 1520. RELATIONSHIP TO COMMUNITY REINVESTMENT
ACT OF 1977.
Section 807(b) of the Community Reinvestment Act
of 1977 (12 U.S.C. 2906(b)) is amended by adding at the
end the following new paragraph:
‘‘(3) COORDINATION WITH COMMUNITY BANK-
ING AND ECONOMIC EMPOWERMENT ACT.—No regu-
lated financial institution may receive a rating of
‘outstanding record of meeting community credit
needs’ or ‘satisfactory record of meeting community
credit needs’ solely on the basis of loans to or invest-
ments in community development lenders.’’.
SEC. 1521. REPORTS TO CONGRESS.
The Secretary shall submit a report to the Congress
not later than July 1 of each year in which the Secretary
provides assistance under section 1514 to community de-
velopment lenders or eligible entities, which shall de-
scribe—
(1) the assistance provided under such section,
the purposes for which such assistance will be used,
the neighborhoods to be served by the community
development lenders assisted, and the activities of
community development lenders assisted; and
(2) any technical assistance provided under sec-
tion 1519 by the Secretary.
SEC. 1522. REGULATIONS.
The Secretary of Housing and Urban Development,
jointly with the Secretary of the Treasury, shall issue any
regulations necessary to carry out this subtitle.
SEC. 1523. DEFINITIONS.
For purposes of this chapter:
(1) The term ‘‘assistance agreement’’ means an
agreement under section 1517 between the Secretary
and a community development lender or eligible en-
tity receiving assistance under section 1514.
(2) The term ‘‘assistance agreement term’’
means the period established by an assistance agree-
ment during which the community development lend-
er that receives assistance under section 1514 pursu-
ant to the agreement (or established by the eligible
entity that receives such assistance) shall comply
with the provision of the agreement.
(3) The term ‘‘community development finan-
cial institution’’ means a financial institution de-
scribed in section 1513(a)(1) that meets the require-
ments under subsections (b) and (c) of section 1513.
(4) The term ‘‘community development lender’’
means a community development financial institu-
tion that meets the requirements under subsections
(b) and (c) of section 1513.
(5) The term ‘‘eligible entity’’ means any entity
described in section 1513(a)(2).
(6) The term ‘‘low-income family’’ means any
individual or family whose income does not exceed
80 percent of the median income for the area, as de-
termined by the Secretary with adjustments for
smaller and larger families; except that the Sec-
retary may establish income ceilings higher or lower
than 80 percent of the median for the area on the
basis of any findings by the Secretary that such
variations are necessary because of unusually high
or low prevailing incomes.
(7) The term ‘‘low-income neighborhood’’
means any area within a city, county, town, town-
ship, parish, village, or other general purpose sub-
division of a State—
(A) that has a continuous boundary; and
(B) in which not less than 20 percent of
the residents are members of low-income fami-
lies.
(8) The term ‘‘low-income neighborhood served
by a community development lender’’ means the low-
income neighborhood identified in an application
under section 1516 and an assistance agreement
under section 1517 as the area in which the commu-
nity development lender that receives assistance pur-
suant to such application and agreement (or estab-
lished by the eligible entity that receives such assist-
ance) will be located and conduct its principal oper-
ations.
(9) The term ‘‘Secretary’’ means the Secretary
of Housing and Urban Development.
SEC. 1524. AUTHORIZATION OF APPROPRIATIONS.
There is authorized to be appropriated for each of
fiscal years 1995 and 1996—
(1) $800,000,000 for assistance under section
1514; and
(2) $200,000,000 for providing technical assist-
ance under section 1519.
Subtitle G—Education
Infrastructure
SEC. 1601. SHORT TITLE.
This subtitle may be cited as the ‘‘Education Infra-
structure Act of 1994’’.
SEC. 1602. FINDINGS.
The Congress finds that—
(1) improving the quality of public elementary
and secondary school libraries, media centers, and
facilities will help our Nation meet the National
Education Goals;
(2) Federal, State, and local funding for the re-
pair, renovation, alteration and construction of pub-
lic elementary and secondary school libraries, media
centers, and facilities has not adequately reflected
need; and
(3) the challenges facing our Nation’s public el-
ementary and secondary schools require the con-
certed and collaborative efforts of all levels of gov-
ernment and all sectors of the community.
SEC. 1603. PURPOSE.
It is the purpose of this subtitle to help our Nation
meet the National Education Goals through the repair,
renovation, alteration and construction of public elemen-
tary and secondary school libraries, media centers, and fa-
cilities, used for academic or vocational instruction.
SEC. 1604. DEFINITIONS.
For purposes of this subtitle—
(1) the term ‘‘alteration’’ refers to any change
to an existing property for use for a different pur-
pose or function;
(2) the term ‘‘construction’’ refers to the erec-
tion of a building, structure, or facility, including the
concurrent installation of equipment, site prepara-