H.R.3002: To establish a demonstration program to authorize the Secretary of Housing and Urban Development to guarantee obligations issued by Indian tribes to finance community and economic development activities.

To establish a demonstration program to authorize the Secretary of Housing and Urban Development to guarantee obligations issued by Indian tribes to finance community and economic development activities. 10/2/2007--Reported to House amended.    (There is 1 other summary) Native American Economic Development and Infrastructure for Housing Act of 2007 - (Sec. 2) Authorizes the Secretary of Housing and Urban Development to guarantee notes and obligations issued by Indian tribes or tribally designated housing entities, with tribal approval, to finance community and economic development activities on Indian reservations and in other Indian areas. Requires the use of at least 70% of the aggregate funds received as a result of such guarantee to support activities that benefit low-income Indian families. Directs the Secretary to establish underwriting criteria for such guarantees, including necessary fees, to ensure that the guarantee program is [...]

show full description