establish or expand anchor institutions in 
the eligible low-income community. 
(ii) LIMITATION.—Grant funds award-
ed under this paragraph may not be used 
to fund more than 25 percent of the total 
cost associated with the establishment or 
expansion of an anchor institution. 
(iii) JOB
TRAINING
PROGRAMS.—If 
grant funds awarded under this paragraph 
are used to establish or expand an anchor 
institution in the eligible low-income com-
munity that provides job training pro-
grams, such funds may only be used to 
fund job training programs that serve resi-
dents of such eligible low-income commu-
nity. 
(B) ANCHOR INSTITUTION DEFINED.—In 
this paragraph, the term ‘‘anchor institution’’ 
means hospitals, colleges, research centers, non-
profit institutions, and such other institutions 
the Secretary may specify. 
(C) 
AUTHORIZATION
OF
APPROPRIA-
TIONS.—For grants under this paragraph, there 
is authorized to be appropriated $100,000,000 
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for fiscal year 2017, to remain available until 
expended. 
(2) INFRASTRUCTURE GRANTS.— 
(A) USE OF FUNDS.— 
(i) IN GENERAL.—Grant funds award-
ed under this paragraph shall be used for 
public infrastructure improvement projects 
in the eligible low-income community. 
(ii) LIMITATION.—Grant funds award-
ed under this paragraph may not be used 
to fund more than 10 percent of the total 
cost associated with a public infrastructure 
improvement project. 
(B) 
AUTHORIZATION
OF
APPROPRIA-
TIONS.—For grants under this paragraph, there 
is authorized to be appropriated $200,000,000 
for fiscal year 2017, to remain available until 
expended. 
(3) TECHNICAL ASSISTANCE GRANTS.— 
(A) IN GENERAL.—Grant funds awarded 
under this paragraph shall be used to make 
technical assistance grants. 
(B) 
AUTHORIZATION
OF
APPROPRIA-
TIONS.—For grants under this paragraph, there 
is authorized to be appropriated $20,000,000 
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for fiscal year 2017, to remain available until 
expended. 
SEC. 4. CAPITAL ASSISTANCE GRANTS TO PARTNER COM-
MUNITY DEVELOPMENT FINANCIAL INSTITU-
TIONS. 
(a) IN GENERAL.—The Secretary shall award a cap-
ital assistance grant to each community development fi-
nancial institution that is specified in the application of 
an eligible low-income community selected under section 
2(b) to receive grants under section 3. 
(b) USE OF FUNDS.—Grant funds awarded under 
this section may be used to make loans to, and invest in, 
businesses, organizations, or public-private partnerships 
located in the eligible low-income community. 
(c) AUTHORIZATION
OF
APPROPRIATIONS.—For 
grants under this section, there is authorized to be appro-
priated $200,000,000 for fiscal year 2017, to remain 
available until expended. 
SEC. 5. TAX CREDIT FOR COMMUNITY INVESTMENT. 
(a) IN GENERAL.—Section 45D of subpart D of part 
IV of subchapter A of chapter 1 of the Internal Revenue 
Code of 1986 is amended— 
(1) by redesignating subsection (i) as subsection 
(j); and 
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(2) by inserting after subsection (h) the fol-
lowing new subsection: 
‘‘(i) SPECIAL RULES FOR CERTAIN PARTNER COM-
MUNITY DEVELOPMENT FINANCIAL INSTITUTIONS.—For 
purposes of this section, in the case of a partner commu-
nity development financial institution that is specified in 
the application of an eligible low-income community se-
lected under section 2(b) of the Race to the Job Initiative 
Act to receive grants under section 3 of such Act— 
‘‘(1) such institution shall be treated as a quali-
fied community development entity without regard to 
the allocation limitations under subsection (f); and 
‘‘(2) the term ‘low-income community’ shall 
mean such eligible low-income community.’’. 
(b) APPLICABILITY.—The amendments made by this 
section shall apply with respect to a partner community 
development financial institution that is specified in the 
application of an eligible low-income community selected 
by the Secretary under section 2(b) after the date of the 
enactment of this Act. 
SEC. 6. INCREASE IN CDFI AWARD AMOUNTS. 
Section 108(d) of the Community Development 
Banking and Financial Institutions Act of 1994 (12 
U.S.C. 4704) is amended— 
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(1) in paragraph (1), by inserting after ‘‘assist-
ance’’ the following: ‘‘(or, in the case of a commu-
nity development financial institution receiving a 
capital assistance grant under section 4 of the Race 
to the Job Initiative Act, $20,000,000)’’; and 
(2) by adding at the end the following: 
‘‘(4) ANNUAL
ASSISTANCE
LIMITATION
FOR 
CERTAIN INSTITUTIONS.—In the case of a commu-
nity development financial institution receiving a 
capital assistance grant under section 4 of the Race 
to the Job Initiative Act, the Fund may not provide 
such community development financial institution 
and its subsidiaries and affiliates with more than— 
‘‘(A) $10,000,000 in annual financial as-
sistance; and 
‘‘(B) $500,000 in annual technical assist-
ance.’’. 
SEC. 7. DEFINITIONS. 
In this Act: 
(1) COMMUNITY DEVELOPMENT FINANCIAL IN-
STITUTION.—The term ‘‘community development fi-
nancial institution’’ has the meaning given such 
term in section 103 of the Riegle Community Devel-
opment and Regulatory Improvement Act of 1994 
(12 U.S.C. 4702). 
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(2) ELIGIBLE LOW-INCOME COMMUNITY.—The 
term ‘‘eligible low-income community’’ means a city 
or county with— 
(A) a census tract with a poverty rate of 
at least 30 percent (as determined by the Office 
of Management and Budget using the most re-
cent decennial census for which data are avail-
able); and 
(B) with an unemployment rate that is at 
least 150 percent of the national average (as 
determined by the Bureau of Labor Statistics). 
(3) STATE.—The term ‘‘State’’ means each of 
the several States, the District of Columbia, and any 
commonwealth, territory, or possession of the United 
States. 
Æ 
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