Bill Detail
S. 869
Congress: 118
Title
CDFI Bond Guarantee Program Improvement Act of 2023
Summary
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.)
Sponsor
Sen. Tina Smith [D-MN]
Status
Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 118-592.
Status as of Jun 19, 10:04 AM · synced 10d ago
Introduced
2023-03-16
Data source mode: congress-gov
Bill Engagement
CDFI Bond Guarantee Program Improvement Act of 2023 This bill reauthorizes for four years and otherwise revises the Community Development Financial Institutions (CDFI) Bond Guar…