CDFI Bond Guarantee Program Improvement Act of 2023

Senate Bill 869 - CDFI Bond Guarantee Program Improvement Act of 2023: Overview, Status, and Impact

Hozzl · 2024-03-14T00:23:40Z

Explore the details of Senate Bill 869 CDFI Bond Guarantee Program Improvement Act of 2023 currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Finance and Financial Sector. Stay informed on legislative developments.

3/14/2024, 12:23 AM

Congressional Summary of S 869

CDFI Bond Guarantee Program Improvement Act of 2023

This bill reauthorizes for four years and otherwise revises the Community Development Financial Institutions (CDFI) Bond Guarantee Program. Specifically, the bill (1) reduces the CDFI Bond Guarantee Program minimum issuance amount from $100 million to $25 million, (2) eliminates the cap on the annual number of guarantees, and (3) revises the amount to be held in a CDFI's relending account.

(CDFIs are financial institutions serving low-income communities. Designation as a CDFI allows an institution to participate in programs such as the CDFI Bond Guarantee Program. The program provides financing to CDFIs through federal credit subsidies that allow CDFIs to issue bonds.)

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Current Status of Bill S 869

Bill S 869 is currently in the status of Bill Introduced since March 16, 2023. Bill S 869 was introduced during Congress 118 and was introduced to the Senate on March 16, 2023. Bill S 869's most recent activity was Committee on Banking, Housing, and Urban Affairs. Hearings held. as of February 1, 2024

Bipartisan Support of Bill S 869

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill S 869

Primary Policy Focus

Finance and Financial Sector

Potential Impact Areas

- Banking and financial institutions regulation

- Business investment and capital

- Community Development Financial Institutions Fund

- Community life and organization

- Congressional oversight

- Credit and credit markets

- Government information and archives

- Government lending and loan guarantees

- Government studies and investigations

- Housing and community development funding

- Securities

Alternate Title(s) of Bill S 869

CDFI Bond Guarantee Program Improvement Act of 2023

A bill to amend the Community Development Banking and Financial Institutions Act of 1994 to reauthorize and improve the community development financial institutions bond guarantee program, and for other purposes.