Legis Daily

CDFI Bond Guarantee Program Improvement Act of 2022

USA117th CongressS-3441| Senate 
| Updated: 9/20/2022
Tina Smith

Tina Smith

Democratic Senator

Minnesota

Cosponsors (1)
Mike Rounds (Republican)

Housing, Transportation, and Community Development Subcommittee, Banking, Housing, and Urban Affairs Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
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.)
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
Jan 5, 2022
Introduced in Senate
Jan 5, 2022
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Jan 5, 2022
Committee on Banking, Housing, and Urban Affairs Subcommittee on Housing, Transportation, and Community Development. Hearings held.
Apr 26, 2022
Committee on Banking, Housing, and Urban Affairs. Hearings held.
Jul 28, 2022

Latest Companion Bill Action

HR 117-7733
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Sep 20, 2022
Committee on Banking, Housing, and Urban Affairs Subcommittee on Housing, Transportation, and Community Development. Hearings held.
  • January 5, 2022
    Introduced in Senate


  • January 5, 2022
    Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.


  • January 5, 2022
    Committee on Banking, Housing, and Urban Affairs Subcommittee on Housing, Transportation, and Community Development. Hearings held.


  • April 26, 2022
    Committee on Banking, Housing, and Urban Affairs. Hearings held.


  • July 28, 2022

    Latest Companion Bill Action

    HR 117-7733
    Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.


  • September 20, 2022
    Committee on Banking, Housing, and Urban Affairs Subcommittee on Housing, Transportation, and Community Development. Hearings held.

Finance and Financial Sector

Related Bills

  • HR 117-2543: Financial Services Racial Equity, Inclusion, and Economic Justice Act
  • HR 117-7733: CDFI Bond Guarantee Program Improvement Act of 2022
Banking and financial institutions regulationBusiness investment and capitalCommunity Development Financial Institutions FundCommunity life and organizationCongressional oversightCredit and credit marketsGovernment information and archivesGovernment lending and loan guaranteesGovernment studies and investigationsHousing and community development fundingSecurities

CDFI Bond Guarantee Program Improvement Act of 2022

USA117th CongressS-3441| Senate 
| Updated: 9/20/2022
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.)
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
Jan 5, 2022
Introduced in Senate
Jan 5, 2022
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Jan 5, 2022
Committee on Banking, Housing, and Urban Affairs Subcommittee on Housing, Transportation, and Community Development. Hearings held.
Apr 26, 2022
Committee on Banking, Housing, and Urban Affairs. Hearings held.
Jul 28, 2022

Latest Companion Bill Action

HR 117-7733
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Sep 20, 2022
Committee on Banking, Housing, and Urban Affairs Subcommittee on Housing, Transportation, and Community Development. Hearings held.
  • January 5, 2022
    Introduced in Senate


  • January 5, 2022
    Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.


  • January 5, 2022
    Committee on Banking, Housing, and Urban Affairs Subcommittee on Housing, Transportation, and Community Development. Hearings held.


  • April 26, 2022
    Committee on Banking, Housing, and Urban Affairs. Hearings held.


  • July 28, 2022

    Latest Companion Bill Action

    HR 117-7733
    Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.


  • September 20, 2022
    Committee on Banking, Housing, and Urban Affairs Subcommittee on Housing, Transportation, and Community Development. Hearings held.
Tina Smith

Tina Smith

Democratic Senator

Minnesota

Cosponsors (1)
Mike Rounds (Republican)

Housing, Transportation, and Community Development Subcommittee, Banking, Housing, and Urban Affairs Committee

Finance and Financial Sector

Related Bills

  • HR 117-2543: Financial Services Racial Equity, Inclusion, and Economic Justice Act
  • HR 117-7733: CDFI Bond Guarantee Program Improvement Act of 2022
  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Banking and financial institutions regulationBusiness investment and capitalCommunity Development Financial Institutions FundCommunity life and organizationCongressional oversightCredit and credit marketsGovernment information and archivesGovernment lending and loan guaranteesGovernment studies and investigationsHousing and community development fundingSecurities