S 3441 · 117th Congress · Finance and Financial Sector

CDFI Bond Guarantee Program Improvement Act of 2022

Introduced 2022-01-05· Sponsored by Sen. Smith, Tina [D-MN]· Senate

Bill Progress

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Introduced
2
Committee
3
Senate Vote
4
House
5
Enacted
Latest: Committee on Banking, Housing, and Urban Affairs Subcommittee on Housing, Transportation, and Community Development. Hearings held.(2022-09-20)

Plain Language Summary

[AI summary unavailable — showing source text] 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.)…

Summarized by Claude AI · Non-partisan · For informational purposes only

Cosponsors (1)

1 Republican
Sen. Rounds, Mike [R-SD]SD