CDFI Bond Guarantee Program Improvement Act of 2025
- Last Action
- 5/22/2025
Actions
- 2025-05-22Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- 2025-05-22Introduced in Senate
CRS Summary
As of 2025-05-22 (00)
CDFI Bond Guarantee Program Improvement Act of 2025
This bill reauthorizes the Community Development Financial Institutions (CDFI) Bond Guarantee Program for four years and revises it to allow for a greater number of participants.
CDFIs are financial institutions serving low-income communities. Designation as a CDFI allows an institution to participate in programs such as the CDFI Bond Guarantee Program. The program provides CDFIs with financing for community and economic development projects through federal credit subsidies that allow CDFIs to issue bonds.
The bill (1) reduces the program’s minimum loan amount from $100 million to $25 million, (2) eliminates the cap on the annual number of guarantees, and (3) revises the maximum amount that may be held in a CDFI's relending account for secondary loans.
Cosponsors (12)
- Mike Rounds (R-SD)
- Cory Booker (D-NJ)
- Steve Daines (R-MT)
- Tim Sheehy (R-MT)
- John Hickenlooper (D-CO)
- Amy Klobuchar (D-MN)
- Cindy Hyde-Smith (R-MS)
- Ruben Gallego (D-AZ)
- Cynthia Lummis (R-WY)
- Lisa Blunt Rochester (D-DE)
- Mike Crapo (R-ID)
- Mark Warner (D-VA)
Sourced from Congress.gov (public domain).
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