Local projects in underserved communities would get renewed funding support.
This bill would restart a program that helps special financial groups get long-term money for local development projects. These groups are called Community Development Financial Institutions (CDFIs). This means more funding for things like small businesses or affordable housing in areas that need it most. The program would be allowed to run again for four years with new financial limits.
Today, the CDFI Bond Guarantee Program's authorization expired in 2014, meaning it is not actively guaranteeing new bonds. If this bill passes, the program would be reauthorized for four years after it becomes law, allowing new bonds to be guaranteed. Each new guarantee would need to be at least $25 million, and the total amount of new guarantees in any government budget year would not be allowed to exceed $1 billion.
S 1880 · 119th Congress · May 22, 2025 · AI Summary by gemini-2.5-flash · 10/10
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4 filings mentioned this bill
Amounts reflect total quarterly lobbying spend reported to the Senate, not bill-specific spending. Source: Senate LDA filings.