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Limiting Funds for Community Development Programs in 2024

This bill aims to cap the funds available for a program supporting community development in 2024. This means less money will be allocated to initiatives designed to improve living conditions in less affluent areas, potentially affecting access to credit and financial services for residents in those regions.
Key points
The maximum amount for community development programs in 2024 will be limited to $250 million.
Reduced funding may impact support for small businesses and access to financial services in underserved communities.
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Status:
Expired
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Additional Information
Print number: 118_HR_2058
Sponsor: Rep. Biggs, Andy [R-AZ-5]
Process start date: 2023-03-29
System Note: Lustra is free, publicly auditable civic infrastructure, with 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
AI work logs for this document launch

OFFICIAL LEGAL TITLE

To provide for a limitation on availability of funds for Department of Treasury, Community Development Financial Institutions, Fund Program Account for fiscal year 2024.

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_2058.

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 2023-03-29.

What are the main provisions?

Key points include:

  • The maximum amount for community development programs in 2024 will be limited to $250 million.
  • Reduced funding may impact support for small businesses and access to financial services in underserved communities.
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. Biggs, Andy [R-AZ-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