arrow_back Back to App

Community Development Boost: More Funds for Local Growth

This act aims to increase access to long-term funding for institutions that support local development. This means more money will flow into underserved areas, potentially leading to new jobs, better housing, and overall improved living conditions in these communities. The act also extends the bond guarantee program and increases its funding limit.
Key points
Increased financial resources for community development institutions, potentially leading to more development projects in underserved areas.
Extension of the bond guarantee program for another four years, ensuring a stable funding source for important community initiatives.
Raising the annual bond guarantee limit to $1 billion, meaning more money available for investments in communities.
Requirement for reports on the program's effectiveness, ensuring transparency and the ability to assess its impact on citizens' lives.
article Official text account_balance Process page
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 118_HR_10422
Sponsor: Rep. Cleaver, Emanuel [D-MO-5]
Process start date: 2024-12-16
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

CDFI Bond Guarantee Program Improvement Act of 2023

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_10422.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2024-12-16.

What are the main provisions?

Key points include:

  • Increased financial resources for community development institutions, potentially leading to more development projects in underserved areas.
  • Extension of the bond guarantee program for another four years, ensuring a stable funding source for important community initiatives.
  • Raising the annual bond guarantee limit to $1 billion, meaning more money available for investments in communities.
  • Requirement for reports on the program's effectiveness, ensuring transparency and the ability to assess its impact on citizens' lives.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Cleaver, Emanuel [D-MO-5].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Financial Services.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-24.

CATEGORIES

Public Investments Economy Real Estate