A bill to amend the Community Development Banking and Financial Institutions Act of 1994 to reauthorize and improve the community development financial institutions bond guarantee program, and for other purposes.
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.)
Referred to the House Committee on Financial Services.
Introduced in Senate
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Committee on Banking, Housing, and Urban Affairs Subcommittee on Housing, Transportation, and Community Development. Hearings held.
Committee on Banking, Housing, and Urban Affairs. Hearings held.
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