Bill
Bill > HR6830
US HR6830
US HR6830To amend the Riegle Community Development and Regulatory Improvement Act of 1994 to establish minimum issuance amounts under the CDFI Bond Guarantee Program, and for other purposes,.
summary
Introduced
05/12/2020
05/12/2020
In Committee
05/12/2020
05/12/2020
Crossed Over
Passed
Dead
12/31/2020
12/31/2020
Introduced Session
116th Congress
Bill Summary
To amend the Riegle Community Development and Regulatory Improvement Act of 1994 to establish minimum issuance amounts under the CDFI Bond Guarantee Program, and for other purposes,. This bill reduces the Community Development Financial Institutions (CDFI) Bond Guarantee Program minimum issuance amount from $100 million to $25 million for FY2020, and to $50 million thereafter. (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.)
AI Summary
This bill reduces the minimum issuance amount for the Community Development Financial Institutions (CDFI) Bond Guarantee Program. For fiscal year 2020, the minimum is reduced from $100 million to $25 million. Effective October 1, 2020, the minimum is permanently set at $50 million. The CDFI Bond Guarantee Program provides funding to certified CDFIs, which are financial institutions that serve low-income communities. Lowering the minimum issuance amount is intended to make it easier for more CDFIs to participate in the program.
Committee Categories
Business and Industry
Sponsors (1)
Last Action
Referred to the House Committee on Financial Services. (on 05/12/2020)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/116th-congress/house-bill/6830/all-info |
| BillText | https://www.congress.gov/116/bills/hr6830/BILLS-116hr6830ih.pdf |
| Bill | https://www.congress.gov/116/bills/hr6830/BILLS-116hr6830ih.pdf.pdf |
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