US Congress House Bill 3129 (Prior Session Legislation)

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Spectrum: Bipartisan Bill
Status: Introduced on June 29 2017 - 25% progression, died in committee
Action: 2017-06-29 - Referred to the Committee on Ways and Means, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]

ADVANCE Act Aiding Development of Vital Assets in Native Communities and Environments Act of 2017 This bill amends the Riegle Community Development and Regulatory Improvement Act of 1994 to require the Community Development Financial Institutions (CDFI) Fund to provide outreach and training with respect to the New Markets Tax Credit (NMTC) in low-income communities with a disproportionately low amount of low-income community investments by community development entities. (The NMTC is a non-refundable tax credit intended to encourage private capital investment in low-income communities. NMTCs are allocated by the CDFI Fund, a bureau of the Department of the Treasury, using a competitive application process.) The CFDI Fund must also: (1) include in the application for the NMTC questions to determine and consider, as an innovative use or a comparable incentive in evaluating applications, the extent to which the applicant intends to make low-income community investments within Indian country; and (2) to the maximum extent practicable, ensure that at least one community development entity whose primary mission is to fund projects within or that directly benefit Indian country receives an allocation for each allocation round.

ADVANCE Act Aiding Development of Vital Assets in Native Communities and Environments Act of 2017

Rep. Denny Heck [D-WA]	Rep. Kristi Noem [R-SD]	Rep. Tom Cole [R-OK]	Rep. Don Young [R-AK]
Rep. Derek Kilmer [D-WA]	Rep. Jaime Herrera Beutler [R-WA]	Rep. Suzan DelBene [D-WA]	Rep. Norma Torres [D-CA]
Rep. Ron Kind [D-WI]	Rep. Stevan Pearce [R-NM]	Rep. Betty McCollum [D-MN]	Rep. Dan Newhouse [R-WA]
Rep. Gwen Moore [D-WI]	Rep. Richard Nolan [D-MN]	Rep. Michael Simpson [R-ID]	Rep. Sheila Jackson-Lee [D-TX]

Date	Chamber	Action
2017-06-29	House	Referred to the Committee on Ways and Means, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
2017-06-29	House	Referred to the Committee on Ways and Means, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
2017-06-29	House	Introduced in House

Type	Source
Summary	https://www.congress.gov/bill/115th-congress/house-bill/3129/all-info
Text	https://www.congress.gov/115/bills/hr3129/BILLS-115hr3129ih.pdf