Coronavirus CDFI Funding Act

Bill: 116-s-4294
Sponsor: full_name: Sen. Menendez, Robert [D-NJ]
Introduced: 2020-07-23
Policy area: Housing and Community Development
Subjects: Appropriations

Bank accounts, deposits, capital

Government lending and loan guarantees

Housing and community development funding
Latest action: action_date: 2020-07-23
text: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Summaries:
action_date: 2020-07-23
action_desc: Introduced in Senate
text: <p><b>Coronavirus CDFI Funding Act</b></p> <p>This bill provides $1 billion in FY2020 supplemental appropriations to the Community Development Financial Institutions Fund for providing financial and technical assistance. </p>

tv_txt: II 116th CONGRESS 2d Session S. 4294 IN THE SENATE OF THE UNITED STATES July 23, 2020 Mr. Menendez (for himself, Mr. Durbin , Mr. Manchin , Ms. Warren , Mr. Wyden , Ms. Klobuchar , Ms. Hirono , Mr. Schatz , Mrs. Gillibrand , Mr. Markey , Mr. Van Hollen , and Mr. Blumenthal ) introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs A BILL To provide supplemental appropriations to the Community Development Financial Institutions Fund, and for other purposes.

1. Short title This Act may be cited as the Coronavirus CDFI Funding Act . 2. Supplemental appropriation There is appropriated to the Community Development Financial Institutions Fund established under section 104(a)(1) of the Community Development Banking and Financial Institutions Act of 1994 ( 12 U.S.C. 4703(a)(1) ), out of amounts in the general fund of the Treasury not otherwise appropriated, $1,000,000,000 for fiscal year 2020, for providing financial assistance and technical assistance under subparagraphs (A) and (B) of section 108(a)(1) of the Community Development Banking and Financial Institutions Act of 1994 ( 12 U.S.C. 4707(a)(1) ), except that subsections (d) and (e) of such section 108 shall not apply to the provision of such assistance.