PASSED

This enacted law requires each City depository to give Philadelphia an annual statement of its community reinvestment goals. The statement must cover small-business loans, home mortgage and improvement loans, and other community development investments in the city’s low- and moderate-income neighborhoods.

Amending Chapter 19-200 of The Philadelphia Code, entitled "City Funds - Deposits, Investments, Disbursements," by amending Section 19-201, entitled "City Depositories," by requiring a statement of community reinvestment goals for low and moderate-income neighborhoods in the City of Philadelphia.