summary
Introduced
06/13/2023
06/13/2023
In Committee
06/13/2023
06/13/2023
Crossed Over
Passed
Dead
01/03/2025
01/03/2025
Introduced Session
118th Congress
Bill Summary
A bill to permanently authorize the Native Community Development Financial Institutions lending program of the Department of Agriculture, and for other purposes.
AI Summary
This bill permanently authorizes the Native Community Development Financial Institutions (Native CDFIs) lending program of the Department of Agriculture. The purpose is to increase homeownership opportunities for Native American, Alaska Native, and Native Hawaiian communities in rural areas by providing capital to Native CDFIs to facilitate more mortgage transactions. The bill sets aside $50 million annually for the Native CDFI lending program, with a 20% non-federal cost-share requirement that can be waived for loans on priority tribal land. The bill also requires annual reporting on the program's activities and an evaluation after three years to assess its effectiveness and consider potential expansion.
Committee Categories
Housing and Urban Affairs
Sponsors (2)
Last Action
Committee on Banking, Housing, and Urban Affairs. Hearings held. (on 03/12/2024)
Bill Topics
Community Development and Housing Issues
- ‐ Community and Regional Development
- ‐ Rural Housing
Public Lands and Water Management
- ‐ Native American Affairs and Indian Lands
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location | Created |
|---|---|---|
| State Bill Page | https://www.congress.gov/bill/118th-congress/senate-bill/1941/all-info | 06/14/2023 |
| BillText | https://www.congress.gov/118/bills/s1941/BILLS-118s1941is.pdf | 07/08/2023 |
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