CDFI Bond Guarantee Program Improvement Act of 2022

Bill: 117-hr-7733
Sponsor: Rep. Cleaver, Emanuel [D-MO-5]
Introduced: 2022-05-12 in the House
Policy area: Finance and Financial Sector
Subjects: 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

Summary:
action_date: 2022-05-12
text: 

CDFI Bond Guarantee Program Improvement Act of 2022 

 
This bill permanently reauthorizes 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, and (2) 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.) 

action_date: 2022-06-07
text: 

CDFI Bond Guarantee Program Improvement Act of 2022 

 
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, and (2) 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.) 

action_date: 2022-07-27
text: 

CDFI Bond Guarantee Program Improvement Act of 2022 

 
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, and (2) 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.) 


Legislative actions:
action_date: 2022-07-28
text: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
action_date: 2022-07-27
text: Pursuant to section 5 of H. Res. 1254, and the motion offered by Mr. Kildee, the following bills passed under suspension of the rules: H.R. 623, as amended; H.R. 3952, as amended; H.R. 3962, as amended; H.R. 4551; H.R. 5313, as amended; H.R. 6933; H.R. 7132, as amended; H.R. 7361; H.R. 7569; H.R. 7624, as amended; H.R. 7733, as amended; and H.R. 7981, as amended. (consideration: CR H7197-7211, H7219-7220, H7223-7237; text: 07/26/2022 CR H7127)
action_date: 2022-07-27
text: Passed/agreed to in House: Pursuant to section 5 of H. Res. 1254, and the motion offered by Mr. Kildee, the following bills passed under suspension of the rules: H.R. 623, as amended; H.R. 3952, as amended; H.R. 3962, as amended; H.R. 4551; H.R. 5313, as amended; H.R. 6933; H.R. 7132, as amended; H.R. 7361; H.R. 7569; H.R. 7624, as amended; H.R. 7733, as amended; and H.R. 7981, as amended.(consideration: CR H7197-7211, H7219-7220, H7223-7237; text: 07/26/2022 CR H7127)
action_date: 2022-07-27
text: Pursuant to the provisions of H. Res. 1254, proceedings on H.R. 7733 are considered vacated.
action_date: 2022-07-26
text: At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.
action_date: 2022-07-26
text: DEBATE - The House proceeded with forty minutes of debate on H.R. 7733.
action_date: 2022-07-26
text: Considered under suspension of the rules. (consideration: CR H7127-7128)
action_date: 2022-07-26
text: Ms. Waters moved to suspend the rules and pass the bill, as amended.
action_date: 2022-06-07
text: Placed on the Union Calendar, Calendar No. 266.
action_date: 2022-06-07
text: Reported (Amended) by the Committee on Financial Services. H. Rept. 117-352.
action_date: 2022-06-07
text: Reported (Amended) by the Committee on Financial Services. H. Rept. 117-352.
action_date: 2022-05-17
text: Ordered to be Reported in the Nature of a Substitute (Amended) by Voice Vote.
action_date: 2022-05-17
text: Committee Consideration and Mark-up Session Held.
action_date: 2022-05-12
text: Referred to the House Committee on Financial Services.
action_date: 2022-05-12
text: Introduced in House
action_date: 2022-05-12
text: Introduced in House