CDFI Bond Guarantee Program Improvement Act of 2023
- Last Action
- 2/1/2024
Actions
- 2024-02-01Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 118-592.
- 2023-10-17Committee on Banking, Housing, and Urban Affairs Subcommittee on Housing, Transportation, and Community Development. Hearings held.
- 2023-03-16Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- 2023-03-16Introduced in Senate
CRS Summary
As of 2023-03-16 (00)
CDFI Bond Guarantee Program Improvement Act of 2023
This bill reauthorizes for four years and otherwise revises the Community Development Financial Institutions (CDFI) Bond Guarantee Program. Specifically, the bill (1) reduces the CDFI Bond Guarantee Program minimum issuance amount from $100 million to $25 million, (2) eliminates the cap on the annual number of guarantees, and (3) revises the amount to be held in a CDFI's relending account.
(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 financing to CDFIs through federal credit subsidies that allow CDFIs to issue bonds.)
Cosponsors (10)
- Mike Rounds (R-SD)
- Cynthia Lummis (R-WY)
- Steve Daines (R-MT)
- Jerry Moran (R-KS)
- Amy Klobuchar (D-MN)
- Robert Menendez (D-NJ)
- Mark Warner (D-VA)
- Cindy Hyde-Smith (R-MS)
- Jon Tester (D-MT)
- John Fetterman (D-PA)
Subjects
- Banking and financial institutions regulation
- Business investment and capital
- Community Development Financial Institutions Fund
- Community life and organization
- Congressional oversight
- Credit and credit markets
- Government information and archives
- Government lending and loan guarantees
- Government studies and investigations
- Housing and community development funding
- Securities
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.