Scaling Community Lenders Act of 2023
- Last Action
- 3/12/2024
Actions
- 2024-03-12Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 118-548.
- 2023-05-04Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- 2023-05-04Introduced in Senate
CRS Summary
As of 2023-05-04 (00)
Scaling Community Lenders Act of 2023
This bill allows the Community Development Financial Institutions Fund to provide funds for guarantees, loan loss reserves, or other forms of credit to promote liquidity for Community Development Financial Institutions. The bill also removes matching requirements, establishes eligibility requirements and projects prioritization, and increases the cap on the allowed assistance available to an organization.
The bill also allows the Emergency Capital Investment Fund to provide assistance for these purposes.
Cosponsors (5)
- Mike Crapo (R-ID)
- Gary Peters (D-MI)
- Cynthia Lummis (R-WY)
- Cindy Hyde-Smith (R-MS)
- Tina Smith (D-MN)
Subjects
- Community Development Financial Institutions Fund
- Community life and organization
- Congressional oversight
- Government information and archives
- Government lending and loan guarantees
Sourced from Congress.gov (public domain).
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.