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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.
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Status: Expired
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Additional Information
Print number: 118_HR_10422
Sponsor: Rep. Cleaver, Emanuel [D-MO-5]
Process start date: 2024-12-16
System Note: Lustra is free, publicly auditable civic infrastructure — full source code available on GitHub. You are reading sterilized legislative data, processed by our radical neutrality engine to strip political spin and retain factual mechanics. We process only official government data. Original documents remain the authoritative source—always verify them if you can.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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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.

What is the impact of this bill?

We don't know—that is up to you to decide. Summarizing raw data with AI is fundamentally different from predicting socio-economic outcomes. As of 2026, we believe impact assessment strictly requires a human in the loop to verify and judge.

CATEGORIES

Public Investments Economy Real Estate