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) reduces the amount allowed 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.)
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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CDFI Bond Guarantee Program Improvement Act of 2022
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.
CDFI Bond Guarantee Program Improvement Act of 2022
Sen. Smith, Tina