United States · Bill · S
S. 4430 (116th)
CDFI Crisis Fund Act
Introduced
4 August 2020
Last action
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Status
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Sponsors
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Subjects
Discovery layer
Source updated
14 January 2025
Summary
CDFI Crisis Fund Act This bill establishes the CDFI National Crisis Fund. The fund is authorized to make grants to community development financial institutions (CDFIs) providing financial products as emergency assistance to small businesses and low-income populations in certain circumstances. Furthermore, the fund is triggered by certain emergency declarations, including the COVID-19 (i.e., coronavirus disease 2019) emergency period; certain disaster declarations; a specified increase in a statewide unemployment rate; or a specified increase in the nationwide unemployment rate. Specified amounts in the fund are set aside for grants to Native and minority CDFIs. The Government Accountability Office must report on the impact of the fund and provide recommendations.
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Documents
3 official files
Introduced in Senate (text)
Introduced in Senate · EN · 4 August 2020
Introduced in Senate (PDF)
Introduced in Senate · EN · 4 August 2020
Introduced in Senate
summary · EN · 4 August 2020
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Sources
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- Official source: https://www.congress.gov/bill/116th-congress/senate-bill/4430
- Open data entity: https://api.congress.gov/v3/bill/116/s/4430