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.
Status:
Expired
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