[Congressional Bills 117th Congress]
[From the U.S. Government Publishing Office]
[S. 3441 Introduced in Senate (IS)]

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117th CONGRESS
  2d Session
                                S. 3441

 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.


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                   IN THE SENATE OF THE UNITED STATES

                            January 5, 2022

 Ms. Smith (for herself and Mr. Rounds) introduced the following bill; 
which was read twice and referred to the Committee on Banking, Housing, 
                           and Urban Affairs

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                                 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.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``CDFI Bond Guarantee Program 
Improvement Act of 2022''.

SEC. 2. GUARANTEES FOR BONDS AND NOTES ISSUED FOR COMMUNITY OR ECONOMIC 
              DEVELOPMENT PURPOSES.

    Section 114A of the Community Development Banking and Financial 
Institutions Act of 1994 (12 U.S.C. 4713a) is amended--
            (1) in subsection (c)(2), by striking ``, multiplied by an 
        amount equal to the outstanding principal balance of issued 
        notes or bonds'';
            (2) in subsection (e)(2)(B), by striking ``$100,000,000'' 
        and inserting ``$25,000,000''; and
            (3) by striking subsection (k).
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