arrow_back Back to App

Increased Transparency for Community Development Fund: Annual Reports

This act enhances oversight of the Community Development Financial Institutions Fund (CDFI Fund), which supports economic development in less affluent areas. Citizens can expect greater accountability and better use of public funds allocated for local development. It introduces a requirement for the Secretary of the Treasury to testify annually, ensuring more transparency in the Fund's operations.
Key points
Increased Transparency: The Secretary of the Treasury will be required to testify annually before Congressional committees regarding the operations of the CDFI Fund.
Improved Oversight: Citizens will have assurance that the CDFI Fund, which supports local communities, is under constant scrutiny, potentially leading to more efficient spending of funds.
article Official text account_balance Process page
Introduced
Citizen Poll
No votes cast
Additional Information
Print number: 119_S_2704
Sponsor: Sen. Daines, Steve [R-MT]
Process start date: 2025-09-04
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

CDFI Fund Transparency Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_S_2704.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2025-09-04.

What are the main provisions?

Key points include:

  • Increased Transparency: The Secretary of the Treasury will be required to testify annually before Congressional committees regarding the operations of the CDFI Fund.
  • Improved Oversight: Citizens will have assurance that the CDFI Fund, which supports local communities, is under constant scrutiny, potentially leading to more efficient spending of funds.
What is the specific legal status?

The current status is Introduced.

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. Daines, Steve [R-MT].

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 2025-12-23.

CATEGORIES

Economy Public Investments