Bill
Bill > HR7121
US HR7121
To authorize appropriations for the Community Development Financial Institutions Fund providing financial assistance and technical assistance for the benefit of certain minority communities, and for other purposes.
summary
Introduced
06/08/2020
06/08/2020
In Committee
06/08/2020
06/08/2020
Crossed Over
Passed
Dead
12/31/2020
12/31/2020
Introduced Session
116th Congress
Bill Summary
A BILL To authorize appropriations for the Community Development Financial Institutions Fund providing financial assistance and technical assistance for the benefit of certain minority communities, and for other purposes. 1
AI Summary
This bill authorizes $5 billion in appropriations for the Community Development Financial Institutions (CDFI) Fund to provide financial and technical assistance, particularly to minority communities and minority lending institutions. The bill defines a "minority lending institution" as one that is majority-owned by socially and economically disadvantaged individuals or serves a predominantly minority community. It also defines "minority" as including Black Americans, Native Americans, Hispanic Americans, and Asian Americans. The assistance is intended to benefit these minority communities and will be delivered primarily through qualified community development lender organizations with expertise in community development banking and lending in Indian country and other minority communities.
Committee Categories
Business and Industry
Sponsors (1)
Last Action
Referred to the House Committee on Financial Services. (on 06/08/2020)
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/7121/all-info |
| BillText | https://www.congress.gov/116/bills/hr7121/BILLS-116hr7121ih.pdf |
| Bill | https://www.congress.gov/116/bills/hr7121/BILLS-116hr7121ih.pdf.pdf |
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