,i #aafth ,,congress #ast ,session ,h4 ,r4 #chde ,,in ,,the ,,house ,,of ,,representatives ,july #ah1 #bjai,mr4 ,kilmer 7for himself1 ,mr4 ,moolenaar1 ,mr4 ,mc,adams1 ,mr4 ,stivers1 ,miss ,rice of ,new ,york1 ,ms4 ,porter1 ,mr4 ,himes1 ,ms4 ,tlaib1 ,mr4 ,schneider1 ,mr4 ,perlmutter1 and ,mrs4 ,murphy7 introduced the following bill2 which was referred to the ,committee on ,education and ,labor ,a ,,bill ,to authorize a grant program that strengthens the capacity of community development financial institutions through alignment with national service participants4 #a4 ,short title ,this ,act may be cited as the ,economic ,mobility ,corps ,act of #bjai4 #b4 ,findings and purposes 7a7 ,findings ,congress finds the following3 7#a7 ,there exists a network of over #a1jjj ,treasury-certified community development financial institutions located in all #ej ,states1 the ,district of ,columbia1 ,guam1 and the ,commonwealth of ,puerto ,rico4 7#b7 ,community development financial institutions are mission-driven financial lenders that provide critical and responsible financial products and services that benefit low-income and distressed communities1 economically disadvantaged people1 and community businesses4 7#c7 ,community development financial institutions need more talent and human capacity to better meet the needs of the low-income and distressed communities1 economically disadvantaged populations1 and community businesses that they serve4 7#d7 7,a7 ,national service programs1 carried out through the ,corporation for ,national and ,community ,service1 are national1 ,state1 and local service programs provided through a network that connects over #gj1jjj ,americans each year in intensive service to improve lives1 strengthen communities1 and inspire civic engagement4 7,b7 ,economic opportunity is one of the ,corporation's focus areas for national service corps or programs4 7#e7 7,a7 ,community development financial institutions and national service programs each engage local residents and community partners to improve community safety1 health1 housing1 and economic opportunities1 and to meet community-identified needs4 7,b7 ,residents of low-income communities1 especially youth and young adults1 can be empowered through their national service1 and can help provide future leadership for community development financial institutions and for the communities they serve4 7#f7 ,the ,corporation for ,national and ,community ,service has engaged in partnerships1 similar to the partnership created under this ,act1 with ,federal agencies such as the ,department of ,transportation1 the ,department of ,education1 the ,department of ,justice1 and the ,forest ,service4 7b7 ,purposes ,the purposes of this ,act are to-- 7#a7 create a partnership between the ,corporation for ,national and ,community ,service and the ,department of the ,treasury to connect the work of covered community development financial institutions with passionate and dedicated national service participants1 including volunteers in the ,national ,senior ,service ,corps2 7#b7 strengthen the capacity of covered community development financial institutions to provide services1 which services may include financial counseling1 financial services1 job placement1 small business financing1 affordable rental housing financing1 commercial facility financing1 community facility financing1 single family home financing1 and foreclosure prevention services2 7#c7 expand the direct services provided by covered community development financial institutions2 and 7#d7 deploy national service participants1 including volunteers in the ,national ,senior ,service ,corps1 in impactful national service that aligns with objectives in the ,corporation's economic opportunity focus area4 #c4 ,definitions ,in this ,act3 7#a7 ,chief executive officer ,the term ,chief ,executive ,officer means the ,chief ,executive ,officer of the ,corporation for ,national and ,community ,service appointed under section #aic of the ,national and ,community ,service ,act of #aiij 7#db ,u4,s4,c4 #abfea;c74 7#b7 ,covered community development financial institution ,the term covered community development financial institution means any nonprofit entity that meets the definition of a community development financial institution in section #ajc of the ,community ,development ,banking and ,financial ,institutions ,act of #aiid 7#ab ,u4,s4,c4 #dgjb7 and is certified as a community development financial institution by the ,department of the ,treasury4 7#c7 ,eligible entity ,the term eligible entity means-- 7,a7 a covered community development financial institution with an approved application under section #e2 or 7,b7 an organization1 with an approved application under section #e1 that places participants with covered community development financial institutions and provides technical management to those institutions4 7#d7 ,participant 7,a7 ,in general ,the term participant means an individual in an approved national service position4 7,b7 ,rule ,a participant shall not be considered to be an employee of an eligible entity or a covered community development financial institution receiving assistance under this ,act4 7#e7 ,placement site ,the term placement site means the location of the covered community development financial institution at which a participant shall be placed for service4 7#f7 ,secretary ,the term ,secretary means the ,secretary of the ,treasury4 #d4 ,interagency agreement for the ,economic ,mobility ,corps ,act of #bjai 7a7 ,interagency agreement 7#a7 ,in ,general ,the ,chief ,executive ,officer shall enter into an interagency agreement under section #aba7;b77#f7 of the ,national and ,community ,service ,act of #aiij 7#db ,u4,s4,c4 #abega7;b77#f77 with the ,secretary that is similar to an interagency agreement described in section #aba7;b77#a7 of such ,act 7#db ,u4,s4,c4 #abega7;b77#a771 regarding the grant program described in section #e1 except that funds appropriated under this ,act may be used as if appropriated for the purposes for which funds may be provided through grants under section #aba7;a7 of the ,national and ,community ,service ,act of #aiij 7#db ,u4,s4,c4 #abega7;a774 ,except as otherwise provided in this ,act1 the provisions of the ,national and ,community ,service ,act of #aiij 7#db ,u4,s4,c4 #abeja et seq471 other than paragraphs 7#a7 through 7#e7 of section #aba7;b7 of that ,act 7#db ,u4,s4,c4 #abega7;b771 that apply to a national service program supported under that section #aba7;b7 shall apply to the grant program described in section #e4 7#b7 ,amendment to the ,,ncsa ,section #aba7;b7 of such ,act 7#db ,u4,s4,c4 #abega7;b77 is amended by adding at the end the following3 7#f7 ,community development financial institution grant interagency agreement ,notwithstanding paragraph 7#a71 the ,corporation shall enter into an interagency agreement similar to an interagency agreement described in paragraph 7#a7 with the ,secretary of the ,treasury under this subsection regarding the community development financial institution grant program described in section #e of the ,economic ,mobility ,corps ,act of #bjai4 4 7b7 ,approved ,national ,service ,positions 7#a7 ,in ,general ,the ,chief ,executive ,officer shall approve positions for ,economic ,mobility ,corps projects as approved national service positions in accordance with subtitle ,c of title ,i of the ,national and ,community ,service ,act of #aiij 7#db ,u4,s4,c4 #abega et seq474 7#b7 ,distribution of assistance and approved positions unaffected ,nothing in this ,act shall be construed to affect the distribution of assistance or approved national service positions under section #abi of the ,national and ,community ,service ,act of #aiij 7#db ,u4,s4,c4 #abeha74 ,funds appropriated under section #h shall be used for the costs associated with that assistance or those positions1 for the program carried out under section #e4 7c7 ,treatment of funds appropriated 7#a7 ,national service trust ,for purposes of subsections 7a77#a7 and 7b7 of section #ade of the ,national and ,community ,service ,act of #aiij 7#db ,u4,s4,c4 #abfja7;a77#a771 a portion of the funds appropriated under this ,act1 as determined by the ,chief ,executive ,officer based on the number of participants selected for ,economic ,mobility ,corps projects1 shall be treated1 respectively1 as funds appropriated to the ,corporation and made available to carry out subtitle ,d of title ,i of the ,national and ,community ,service ,act of #aiij 7#db ,u4,s4,c4 #abfja et seq47 and as funds appropriated to the ,trust established under such section4 7#b7 ,audits ,for purposes of section #adi7;c7 of the ,national and ,community ,service ,act of #aiij 7#db ,u4,s4,c4 #abfjf7;c771 funds appropriated under this ,act shall be treated as appropriated funds for approved national service positions4 #e4 ,economic ,mobility ,corps grant program 7a7 ,in general ,the ,chief ,executive ,officer1 in consultation with the ,secretary1 shall award grants1 on a competitive basis1 to eligible entities to enable such eligible entities to place participants at placement sites for the purpose of engaging them in ,economic ,mobility ,corps projects4 7b7 ,applications ,to be eligible to receive a grant under this ,act1 an entity shall submit an application regarding an ,economic ,mobility ,corps project to the ,chief ,executive ,officer at such time1 in such manner1 and containing such information1 as the ,chief ,executive ,officer may require1 including-- 7#a7 a description of the long-term goals and objectives for the project involved and the benchmarks that the eligible entity will use to determine whether to place participants with a covered community development financial institution and to evaluate the performance of the covered community development financial institution in carrying out the project2 and 7#b7 the number of participants intended to be placed with the covered community development financial institution1 in accordance with thresholds set by the ,chief ,executive ,officer1 with respect to both the minimum and maximum numbers of participants that can be placed with a covered community development financial institution1 including such an institution that is an eligible entity4 7c7 ,priority ,in making grants under this ,act1 the ,chief ,executive ,officer1 in consultation with the ,secretary1 shall give preferential consideration to entities proposing to serve rural communities or veterans4 7d7 ,use of funds 7#a7 ,orientation and recruitment ,an eligible entity that receives a grant under this section shall use the funds made available through the grant-- 7,a7 to develop a training orientation1 in which each selected participant will take part2 and 7,b7 to identify and encourage individuals1 including those who are residents in the community to be served or otherwise reflect the demographics of the community1 to serve as participants in community investment1 including the activities described in paragraph 7#c71 in the projects4 7#b7 ,assistance ,an eligible entity that receives a grant under this section for an ,economic ,mobility ,corps project shall use the grant funds to provide assistance1 consistent with subtitle ,c of title ,i of the ,national and ,community ,service ,act of #aiij 7#db ,u4,s4,c4 #abega et seq471 for the project1 including assistance for participants selected for the project in carrying out the activities described in paragraph 7#c74 7#c7 ,activities ,in carrying out those activities1 each selected participant shall-- 7,a7 strengthen the capacity of1 and expand the direct services provided by1 the covered community development financial institution1 which services may include financial counseling1 financial services1 job placement1 small business financing1 affordable rental housing financing1 commercial facility financing1 community facility financing1 single family home financing1 and foreclosure prevention services2 and 7,b7 provide such direct services4 #f4 ,reporting requirements 7a7 ,in general ,as a condition on receipt of any funds for a project under this ,act1 each eligible entity shall agree to prepare and submit a report at such time1 in such manner1 and containing such information as the ,chief ,executive ,officer1 in consultation with the ,secretary1 may require4 7b7 ,content ,in preparing the report the eligible entity shall1 at a minimum-- 7#a7 collect and present data on the degree to which the covered community development financial institution has made progress toward meeting the long-term goals and objectives described in the entity's application and the performance of the covered community development financial institution on the benchmarks described in the application2 7#b7 collect and present demographic data about the participants2 and 7#c7 describe the target area and1 if appropriate1 target population engaged and served by the covered community development financial institution1 including whether the covered community development financial institution serves a rural community or veterans4 #g4 ,economic mobility ,,vista activities ,section #ajc7;a77#i7 of the ,domestic ,volunteer ,service ,act of #aigc 7#db ,u4,s4,c4 #diec7;a77#i77 is amended to read to read as follows3 7#i7 in developing and carrying out-- 7,a7 financial literacy1 financial planning1 budgeting1 saving1 and reputable credit accessibility programs in low-income communities1 including those programs that educate individuals about financing home ownership and higher education2 and 7,b7 foreclosure prevention programs 7including programs at community development financial institutions under section #ajc of the ,community ,development ,banking and ,financial ,institutions ,act of #aiid 7#ab ,u4,s4,c4 #dgjb7 and at other nonprofit organizations71 which programs are in low-income communities and educate individuals about financing home ownership and higher education2 4 #h4 ,authorization of appropriations ,there are authorized to be appropriated to the ,corporation1 #a1jjj1jjj1 for fiscal year #bjbj and each of the #d succeeding fiscal years4