I 
114TH CONGRESS 
2D SESSION 
H. R. 6017 
To establish a grant program to provide grants to eligible low-income 
communities for community development, and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
SEPTEMBER 13, 2016 
Mr. RICHMOND (for himself, Mr. MEEKS, Mr. LARSEN of Washington, Mr. 
PERLMUTTER, Mr. KIND, Mr. HIMES, Ms. SEWELL of Alabama, Miss 
RICE of New York, and Mr. CARNEY) introduced the following bill; which 
was referred to the Committee on Financial Services, and in addition to 
the Committees on Transportation and Infrastructure, and Ways and 
Means, for a period to be subsequently determined by the Speaker, in 
each case for consideration of such provisions as fall within the jurisdic-
tion of the committee concerned 
A BILL 
To establish a grant program to provide grants to eligible 
low-income communities for community development, and 
for other purposes. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Race to the Job Initia-
tive Act’’. 
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SEC. 2. ESTABLISHMENT. 
(a) IN GENERAL.—The Secretary of the Treasury 
shall establish and administer a grant program to provide 
grants to eligible low-income communities for community 
development. 
(b) LIMITATIONS.— 
(1) NUMBER OF GRANT RECIPIENTS IN FIRST 
YEAR.—Not later than one year after the date of the 
enactment of this Act, the Secretary shall select 30 
eligible low-income communities to receive grants 
under section 3. 
(2) NUMBER OF GRANT RECIPIENTS IN SECOND 
YEAR.—Not later than one year after the date on 
which the Secretary selects 30 eligible low-income 
communities under paragraph (1), the Secretary 
shall select an additional 20 eligible low-income com-
munities to receive grants under section 3. 
(3) GEOGRAPHIC LIMITATION.—The Secretary 
may not select more than 3 eligible low-income com-
munities located in the same State to receive grants 
under section 3. 
(c) APPLICATION.— 
(1) IN
GENERAL.—To be selected to receive 
grants under section 3, an eligible low-income com-
munity shall submit an application to the Secretary 
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at such time, in such manner, and containing such 
information as the Secretary may require. 
(2) OTHER REQUIREMENTS.— 
(A) PARTNER COMMUNITY DEVELOPMENT 
FINANCIAL
INSTITUTION.—In an application 
submitted under this subsection, an eligible low- 
income community shall specify at least one 
community development financial institution to 
receive a capital assistance grant under section 
4. 
(B) CONCENTRATED POVERTY.—Each ap-
plication under this subsection shall include a 
description of how the eligible low-income com-
munity has experienced concentrated poverty. 
(C) DEVELOPMENT PROPOSAL.—Each ap-
plication under this subsection shall include a 
description of how the eligible low-income com-
munity plans to use the grant funds awarded 
under section 3 to— 
(i) improve the economy of the com-
munity without displacing residents that 
reside in the community on the date the 
application for such grant funds is sub-
mitted; 
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(ii) create programs that would ben-
efit disadvantaged populations that reside 
in the community; 
(iii) establish or expand an anchor in-
stitution, as such term is defined under 
section 3(1)(B); 
(iv) identify and target a high-growth 
sector of the economy; 
(v) offer affordable financial services 
to the local community; and 
(vi) identify potential investors to tar-
get for matching funds. 
(d) PRIORITY.—In awarding grants under section 3, 
the Secretary shall give priority to an eligible low-income 
community that is experiencing a high poverty rate at the 
time the application for such grant is submitted. 
SEC. 3. GRANTS TO ELIGIBLE LOW-INCOME COMMUNITIES. 
The Secretary shall award to each eligible low-income 
community selected under section 2(b) each of the fol-
lowing grants: 
(1) ANCHOR INSTITUTION GRANTS.— 
(A) USE OF FUNDS.— 
(i) IN GENERAL.—Grant funds award-
ed under this paragraph shall be used to 
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