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CDFI Crisis Fund Act

USA117th CongressS-4165| Senate 
| Updated: 5/9/2022
Brian Schatz

Brian Schatz

Democratic Senator

Hawaii

Cosponsors (11)
Dianne Feinstein (Democratic)Kirsten E. Gillibrand (Democratic)Elizabeth Warren (Democratic)Mark R. Warner (Democratic)Chris Van Hollen (Democratic)Martin Heinrich (Democratic)Bernard Sanders (Independent)Tammy Baldwin (Democratic)Jeff Merkley (Democratic)Ron Wyden (Democratic)Richard Blumenthal (Democratic)

Banking, Housing, and Urban Affairs Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
CDFI Crisis Fund Act This bill establishes the CDFI National Crisis Fund. The fund is authorized to make grants to community development financial institutions (CDFIs) providing financial products as emergency assistance to small businesses and low-income populations in certain circumstances. Furthermore, the fund is triggered by certain emergency declarations, including the COVID-19 emergency period; certain disaster declarations; a specified increase in a statewide unemployment rate; or a specified increase in the nationwide unemployment rate. Specified amounts in the fund are set aside for grants to Native and minority CDFIs. The Government Accountability Office must report on the impact of the fund and provide recommendations.
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Timeline

Bill from Previous Congress

S 116-4430
CDFI Crisis Fund Act
May 9, 2022
Introduced in Senate
May 9, 2022
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
  • Bill from Previous Congress

    S 116-4430
    CDFI Crisis Fund Act


  • May 9, 2022
    Introduced in Senate


  • May 9, 2022
    Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Finance and Financial Sector

Alaska Natives and HawaiiansBanking and financial institutions regulationBusiness investment and capitalCardiovascular and respiratory healthDisaster relief and insuranceEmergency medical services and trauma careFinancial crises and stabilizationGovernment trust fundsHousing and community development fundingIndian social and development programsInfectious and parasitic diseasesMinority and disadvantaged businessesPoverty and welfare assistanceSmall businessUnemployment

CDFI Crisis Fund Act

USA117th CongressS-4165| Senate 
| Updated: 5/9/2022
CDFI Crisis Fund Act This bill establishes the CDFI National Crisis Fund. The fund is authorized to make grants to community development financial institutions (CDFIs) providing financial products as emergency assistance to small businesses and low-income populations in certain circumstances. Furthermore, the fund is triggered by certain emergency declarations, including the COVID-19 emergency period; certain disaster declarations; a specified increase in a statewide unemployment rate; or a specified increase in the nationwide unemployment rate. Specified amounts in the fund are set aside for grants to Native and minority CDFIs. The Government Accountability Office must report on the impact of the fund and provide recommendations.
View Full Text

Suggested Questions

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

Timeline

Bill from Previous Congress

S 116-4430
CDFI Crisis Fund Act
May 9, 2022
Introduced in Senate
May 9, 2022
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
  • Bill from Previous Congress

    S 116-4430
    CDFI Crisis Fund Act


  • May 9, 2022
    Introduced in Senate


  • May 9, 2022
    Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Brian Schatz

Brian Schatz

Democratic Senator

Hawaii

Cosponsors (11)
Dianne Feinstein (Democratic)Kirsten E. Gillibrand (Democratic)Elizabeth Warren (Democratic)Mark R. Warner (Democratic)Chris Van Hollen (Democratic)Martin Heinrich (Democratic)Bernard Sanders (Independent)Tammy Baldwin (Democratic)Jeff Merkley (Democratic)Ron Wyden (Democratic)Richard Blumenthal (Democratic)

Banking, Housing, and Urban Affairs Committee

Finance and Financial Sector

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Alaska Natives and HawaiiansBanking and financial institutions regulationBusiness investment and capitalCardiovascular and respiratory healthDisaster relief and insuranceEmergency medical services and trauma careFinancial crises and stabilizationGovernment trust fundsHousing and community development fundingIndian social and development programsInfectious and parasitic diseasesMinority and disadvantaged businessesPoverty and welfare assistanceSmall businessUnemployment