S. 3441IntroducedFINANCE AND FINANCIAL SECTOR
CDFI Bond Guarantee Program Improvement Act of 2022
Banking and financial institutions regulation · Business investment and capital · Community Development Financial Institutions Fund
Key facts
Introduced: Jan 5, 2022
Chamber: Senate
Cosponsors: 1
Congress: 117th
Latest action · Sep 20, 2022
Committee on Banking, Housing, and Urban Affairs Subcommittee on Housing, Transportation, and Community Development. Hearings held. With printed Hearing: S.Hrg. 117-750.
Summary
CDFI Bond Guarantee Program Improvement Act of 2022
This bill permanently reauthorizes 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, and (2) reduces the amount allowed 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.)
Summary by Congressional Research Service.
Timeline
- Sep 20, 2022Committee on Banking, Housing, and Urban Affairs Subcommittee on Housing, Transportation, and Community Development. Hearings held. With printed Hearing: S.Hrg. 117-750.
- Apr 26, 2022Committee on Banking, Housing, and Urban Affairs. Hearings held.
- Jan 5, 2022Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- Jan 5, 2022Committee on Banking, Housing, and Urban Affairs Subcommittee on Housing, Transportation, and Community Development. Hearings held.
- Jan 5, 2022Introduced in Senate
Cosponsors
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