[Congressional Record Volume 168, Number 158 (Thursday, September 29, 2022)]
[Senate]
[Page S5818]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

  SA 6312. Ms. SMITH submitted an amendment intended to be proposed to 
amendment SA 5499 submitted by Mr. Reed (for himself and Mr. Inhofe) 
and intended to be proposed to the bill H.R. 7900, to authorize 
appropriations for fiscal year 2023 for military activities of the 
Department of Defense, for military construction, and for defense 
activities of the Department of Energy, to prescribe military personnel 
strengths for such fiscal year, and for other purposes; which was 
ordered to lie on the table; as follows:

       At the appropriate place, insert the following:

     SEC. __. CDFI BOND GUARANTEE PROGRAM.

       (a) Short Title.--This section may be cited as the ``CDFI 
     Bond Guarantee Program Improvement Act of 2022'',
       (b) Sense of Congress.--It is the sense of Congress that 
     the authority to guarantee bonds under section 114A of the 
     Community Development Banking and Financial Institutions Act 
     of 1994 (12 U.S.C. 4713a) (in this section referred to as the 
     ``CDFI Bond Guarantee Program'') provides community 
     development financial institutions with a sustainable source 
     of long-term capital and furthers the mission of the 
     Community Development Financial Institutions Fund 
     (established under section 104(a) of such Act (12 U.S.C. 
     4703(a)) to increase economic opportunity and promote 
     community development investments for underserved populations 
     and distressed communities in the United States.
       (c) 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) in subsection (k), by striking ``September 30, 2014'' 
     and inserting ``the date that is 4 years after the date of 
     enactment of the CDFI Bond Guarantee Program Improvement Act 
     of 2022''.
       (d) Report on the CDFI Bond Guarantee Program.--Not later 
     than 1 year after the date of enactment of this Act, and not 
     later than 3 years after such date of enactment, the 
     Secretary of the Treasury shall issue a report to the 
     Committee on Banking, Housing, and Urban Affairs of the 
     Senate and the Committee on Financial Services of the House 
     of Representatives on the effectiveness of the CDFI Bond 
     Guarantee Program.
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