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Extending and Improving Bond Guarantees for Underserved Community Development.

This Act reauthorizes and improves the federal CDFI Bond Guarantee Program, which provides long-term capital to financial institutions focused on community development. This ensures that low-income and distressed communities continue to receive funding for vital projects like affordable housing, small business growth, and job creation. The changes secure the program's financial support for an additional four years.
Key points
The CDFI Bond Guarantee Program, which funds community development, is extended for four more years.
The annual limit on total guarantees is set at $1 billion, ensuring substantial capacity for large-scale development projects.
The program aims to boost economic opportunity and investment in areas and populations underserved by conventional financial services.
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Additional Information
Print number: 118_S_869
Sponsor: Sen. Smith, Tina [D-MN]
Process start date: 2023-03-16
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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_S_869.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2023-03-16.

What are the main provisions?

Key points include:

  • The CDFI Bond Guarantee Program, which funds community development, is extended for four more years.
  • The annual limit on total guarantees is set at $1 billion, ensuring substantial capacity for large-scale development projects.
  • The program aims to boost economic opportunity and investment in areas and populations underserved by conventional financial services.
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 Sen. Smith, Tina [D-MN].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-30.

CATEGORIES

Economy Public Investments