,i  #aad? ,,congress  #b;d ,session  ,h4
 ,r4 #fjag  ,,9 ,,! ,,h\se ,,(          
,,repres5tatives  ,septemb] #ac1        
#bjaf,mr4 ,ri*mond 7= himself1 ,mr4     
,meeks1 ,mr4 ,l>s5 ( ,wa%+ton1 ,mr4     
,p]lmutt]1 ,mr4 ,k9d1 ,mr4 ,himes1 ,ms4 
,sewell ( ,alabama1 ,miss ,rice ( ,new  
,york1 & ,mr4 ,c>ney7 introduc$ ! foll[+
 bill2 :i* 0 ref]r$ to ! ,committee on  
,f9ancial ,s]vices1 & 9 addition to !   
,committees on ,transportation &        
,infra/ructure1 & ,ways & ,means1 = a   
p]iod to be subsequ5tly det]m9$ by !    
,speak]1 9 ea* case = consid]ation ( su*
 provisions z fall )9 ! jurisdiction ( !
 committee conc]n$  ,a ,,bill  ,to      
e/abli% a grant program to provide      
grants to eligible l[-income communities
 = community developm5t1 & = o!r        
purposes4  #a4 ,%ort title ,?is ,act may
 be cit$ z ! ,race to ! ,job ,initiative
 ,act4  #b4 ,e/abli%m5t  7a7 ,9 g5]al ,!
 ,secret>y ( ! ,treasury %all e/abli% & 
adm9i/] a grant program to provide      
grants to eligible l[-income communities

 = community developm5t4  7b7           
,limitations  7#a7 ,numb] ( grant       
recipi5ts 9 fir/ ye> ,n lat] ?an "o ye> 
aft] ! date ( ! enactm5t ( ?is ,act1 !  
,secret>y %all select #cj eligible      
l[-income communities to receive grants 
"u section #c4  7#b7 ,numb] ( grant     
recipi5ts 9 second ye> ,n lat] ?an "o   
ye> aft] ! date on :i* ! ,secret>y      
selects #cj eligible l[-income          
communities "u p>agraph 7#a71 !         
,secret>y %all select an additional #bj 
eligible l[-income communities to       
receive grants "u section #c4  7#c7     
,geographic limitation ,! ,secret>y may 
n select m ?an #c eligible l[-income    
communities locat$ 9 ! same ,/ate to    
receive grants "u section #c4  7c7      
,application  7#a7 ,9 g5]al ,to be      
select$ to receive grants "u section #c1
 an eligible l[-income community %all   
submit an application to ! ,secret>y at 
su* "t1 9 su* mann]1 & conta9+ su*      
in=mation z ! ,secret>y may require4    
7#b7 ,o!r requirem5ts  7,a7 ,p>tn]      

community developm5t f9ancial in/itution
 ,9 an application submitt$ "u ?is      
subsection1 an eligible l[-income       
community %all specify at lea/ "o       
community developm5t f9ancial in/itution
 to receive a capital assi/ance grant "u
 section #d4  7,b7 ,conc5trat$ pov]ty   
,ea* application "u ?is subsection %all 
include a description ( h[ ! eligible   
l[-income community has exp]i5c$        
conc5trat$ pov]ty4  7,c7 ,developm5t    
proposal ,ea* application "u ?is        
subsection %all include a description ( 
h[ ! eligible l[-income community plans 
to use ! grant funds aw>d$ "u section #c
 to-- 7i7 improve ! economy ( !         
community )\t displac+ resid5ts t reside
 9 ! community on ! date ! application =
 su* grant funds is submitt$2  7ii7     
create programs t w\ld b5efit           
disadvantag$ populations t reside 9 !   
community2  7iii7 e/abli% or exp& an    
an*or in/itution1 z su* t]m is def9$ "u 
section #c7a77;,b72  7iv7 id5tify &     
t>get a high-gr[? sector ( ! economy2   

7v7 (f] af=dable f9ancial s]vices to !  
local community2 &  7vi7 id5tify        
pot5tial inve/ors to t>get = mat*+      
funds4  7d7 ,priority ,9 aw>d+ grants "u
 section #c1 ! ,secret>y %all give      
priority to an eligible l[-income       
community t is exp]i5c+ a high pov]ty   
rate at ! "t ! application = su* grant  
is submitt$4  #c4 ,grants to eligible   
l[-income communities ,! ,secret>y %all 
aw>d to ea* eligible l[-income community
 select$ "u section #b7;b7 ea* ( !      
foll[+ grants3 7#a7 ,an*or in/itution   
grants  7,a7 ,use ( funds  7i7 ,9 g5]al 
,grant funds aw>d$ "u ?is p>agraph %all 
be us$ to e/abli% or exp& an*or         
in/itutions 9 ! eligible l[-income      
community4  7ii7 ,limitation ,grant     
funds aw>d$ "u ?is p>agraph may n be us$
 to fund m ?an #be p]c5t ( ! total co/  
associat$ ) ! e/abli%m5t or expansion ( 
an an*or in/itution4  7iii7 ,job tra9+  
programs ,if grant funds aw>d$ "u ?is   
p>agraph are us$ to e/abli% or exp& an  
an*or in/itution 9 ! eligible l[-income 

community t provides job tra9+ programs1
 su* funds may only be us$ to fund job  
tra9+ programs t s]ve resid5ts ( su*    
eligible l[-income community4  7,b7     
,an*or in/itution def9$ ,9 ?is p>agraph1
 ! t]m an*or in/itution means hospitals1
 colleges1 rese>* c5t]s1 nonpr(it       
in/itutions1 & su* o!r in/itutions !    
,secret>y may specify4  7,c7            
,au?orization ( appropriations ,= grants
 "u ?is p>agraph1 !re is au?oriz$ to be 
appropriat$ #ajj1jjj1jjj = fiscal ye>   
#bjag1 to rema9 available until exp5d$4 
7#b7 ,infra/ructure grants  7,a7 ,use ( 
funds  7i7 ,9 g5]al ,grant funds aw>d$  
"u ?is p>agraph %all be us$ = public    
infra/ructure improvem5t projects 9 !   
eligible l[-income community4  7ii7     
,limitation ,grant funds aw>d$ "u ?is   
p>agraph may n be us$ to fund m ?an #aj 
p]c5t ( ! total co/ associat$ ) a public
 infra/ructure improvem5t project4  7,b7
 ,au?orization ( appropriations ,=      
grants "u ?is p>agraph1 !re is au?oriz$ 
to be appropriat$ #bjj1jjj1jjj = fiscal 

ye> #bjag1 to rema9 available until     
exp5d$4  7#c7 ,te*nical assi/ance grants
  7,a7 ,9 g5]al ,grant funds aw>d$ "u   
?is p>agraph %all be us$ to make        
te*nical assi/ance grants4  7,b7        
,au?orization ( appropriations ,= grants
 "u ?is p>agraph1 !re is au?oriz$ to be 
appropriat$ #bj1jjj1jjj = fiscal ye>    
#bjag1 to rema9 available until exp5d$4 
#d4 ,capital assi/ance grants to p>tn]  
community developm5t f9ancial           
in/itutions  7a7 ,9 g5]al ,! ,secret>y  
%all aw>d a capital assi/ance grant to  
ea* community developm5t f9ancial       
in/itution t is specifi$ 9 ! application
 ( an eligible l[-income community      
select$ "u section #b7;b7 to receive    
grants "u section #c4  7b7 ,use ( funds 
,grant funds aw>d$ "u ?is section may be
 us$ to make loans to1 & inve/ 91       
bus9esses1 organizations1 or            
public-private p>tn]%ips locat$ 9 !     
eligible l[-income community4  7c7      
,au?orization ( appropriations ,= grants
 "u ?is section1 !re is au?oriz$ to be  

appropriat$ #bjj1jjj1jjj = fiscal ye>   
#bjag1 to rema9 available until exp5d$4 
#e4 ,tax cr$it = community inve/m5t  7a7
 ,9 g5]al ,section #de;,d ( subp>t ,d ( 
"p ,,iv ( sub*apt] ,a ( *apt] #a ( !    
,int]nal ,rev5ue ,code ( #aihf is       
am5d$-- 7#a7 by r$esignat+ subsection   
7i7 z subsection 7j72 &  7#b7 by ins]t+ 
aft] subsection 7h7 ! foll[+ new        
subsection3  7i7 ,special rules = c]ta9 
p>tn] community developm5t f9ancial     
in/itutions ,= purposes ( ?is section1 9
 ! case ( a p>tn] community developm5t  
f9ancial in/itution t is specifi$ 9 !   
application ( an eligible l[-income     
community select$ "u section #b7;b7 ( ! 
,race to ! ,job ,initiative ,act to     
receive grants "u section #c ( su*      
,act--  7#a7 su* in/itution %all be     
treat$ z a qualifi$ community developm5t
 entity )\t reg>d to ! allocation       
limitations "u subsection 7f72 &  7#b7 !
 t]m #8l[-income community' %all mean   
su* eligible l[-income community4  4    
7b7 ,applicability ,! am5dm5ts made by  

?is section %all apply ) respect to a   
p>tn] community developm5t f9ancial     
in/itution t is specifi$ 9 ! application
 ( an eligible l[-income community      
select$ by ! ,secret>y "u section #b7;b7
 aft] ! date ( ! enactm5t ( ?is ,act4   
#f4 ,increase 9 ,,cdfi aw>d am\nts      
,section #ajh7;d7 ( ! ,community        
,developm5t ,bank+ & ,f9ancial          
,in/itutions ,act ( #aiid 7#ab ,u4,s4,c4
 #dgjd7 is am5d$--  7#a7 9 p>agraph     
7#a71 by ins]t+ aft] assi/ance ! foll[+3
 7or1 9 ! case ( a community developm5t 
f9ancial in/itution receiv+ a capital   
assi/ance grant "u section #d ( ! ,race 
to ! ,job ,initiative ,act1             
#bj1jjj1jjj72 &  7#b7 by add+ at ! end !
 foll[+3  7#d7 ,annual assi/ance        
limitation = c]ta9 in/itutions ,9 ! case
 ( a community developm5t f9ancial      
in/itution receiv+ a capital assi/ance  
grant "u section #d ( ! ,race to ! ,job 
,initiative ,act1 ! ,fund may n provide 
su* community developm5t f9ancial       
in/itution & its subsidi>ies &          

affiliates ) m ?an-- 7,a7 #aj1jjj1jjj 9 
annual f9ancial assi/ance2 &  7,b7      
#ejj1jjj 9 annual te*nical assi/ance4  4
  #g4 ,def9itions ,9 ?is ,act3  7#a7    
,community developm5t f9ancial          
in/itution ,! t]m community developm5t  
f9ancial in/itution has ! mean+ giv5 su*
 t]m 9 section #ajc ( ! ,riegle         
,community ,developm5t & ,regulatory    
,improvem5t ,act ( #aiid 7#ab ,u4,s4,c4 
#dgjb74  7#b7 ,eligible l[-income       
community ,! t]m eligible l[-income     
community means a city or c\nty )--     
7,a7 a c5sus tract ) a pov]ty rate ( at 
lea/ #cj p]c5t 7z det]m9$ by ! ,(fice ( 
,managem5t & ,budget us+ ! mo/ rec5t    
dec5nial c5sus = :i* data are           
available72 &  7,b7 ) an unemploym5t    
rate t is at lea/ #aej p]c5t ( !        
national av]age 7z det]m9$ by ! ,bureau 
( ,labor ,/ati/ics74  7#c7 ,/ate ,! t]m 
,/ate means ea* ( ! sev]al ,/ates1 !    
,di/rict ( ,columbia1 & any commonweal?1
 t]ritory1 or possession ( ! ,unit$     
,/ates4