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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.
article Official text account_balance Process page
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
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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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.

CATEGORIES

Public Investments Economy