,,ii  #aafth ,,congress  #b;d ,session  
,s4 #cggd  ,,in ,,the ,,senate ,,of     
,,the ,,united ,,states  ,may #bj1      
#bjbj,mr4 ,peters introduced the        
following bill2 which was read twice and
 referred to the ,committee on ,banking1
 ,housing1 and ,urban ,affairs  ,a      
,,bill  ,to amend the ,,cares ,act to   
establish a ,community ,capital         
,investment ,program1 and for other     
purposes4  #a4 ,community ,capital      
,investment ,program ,section #djjc of  
the ,,cares ,act 7,public ,law #aaf-acf7
 is amended by adding at the end the    
following3  7i7 ,community ,capital     
,investment ,program  7#a7 ,in general  
,the ,secretary shall establish a       
,community ,capital ,investment ,program
 to support the efforts of community    
investment institutions to provide loans
 and forbearance for small businesses1  
minority-owned businesses1 and          
consumers1 especially in low-income and 
underserved communities1 by-- 7,a7      
providing direct capital investments in 

community investment institutions2 and  
7,b7 providing loans to community       
investment institutions-- 7i7 that are  
interest-free loans2  7ii7 that have a  
loan term of #e years2  7iii7 with      
respect to which no loan payment is     
required under at least the end of the  
#ahj-;day period beginning on the date  
the loan is made1 or such longer term as
 the ,secretary may determine           
appropriate4  7#b7 ,application date    
,the ,secretary shall begin accepting   
applications for capital investments and
 loans under the ,program not later than
 the end of the #aj-;day period         
beginning on the date of enactment of   
this subsection4  7#c7 ,dividend rate   
,any preferred stock or other financial 
instrument issued to the ,secretary in  
exchange for a capital investment under 
the ,program shall carry a dividend or  
interest rate that does not exceed--    
7,a7 #a percent1 during the #c-year     
period following the date on which such 
instrument is issued2 and  7,b7 #c      

percent1 after the #c-year period       
described under subparagraph 7,a74  7#d7
 ,restrictions ,the restrictions        
described under subsection              
7c77#c77;,a77ii7 shall apply to capital 
investments and loans made under this   
subsection4  7#e7 ,available amounts ,in
 carrying out the ,program1 the         
,secretary shall use amounts made       
available under subsection 7b71         
notwithstanding the limitations on the  
use of such funds under paragraphs 7#a7 
through 7#d7 of such subsection 7b74    
7#f7 ,definitions ,in this subsection3  
7,a7 ,community investment institution  
,the term community investment          
institution means-- 7i7 a community     
development financial institution1 as   
defined in section #ajc of the          
,community ,development ,banking and    
,financial ,institutions ,act of #aiid  
7#ab ,u4,s4,c4 #dgjb72  7ii7 an impact  
credit union2  7iii7 an impact bank2 and
  7iv7 a minority depository            
institution1 as defined in section #cjh 

of the ,financial ,institutions ,reform1
 ,recovery1 and ,enforcement ,act of    
#aihi 7#ab ,u4,s4,c4 #adfc note74  7,b7 
,credit union ,the term credit union    
means a ,state credit union and ,federal
 credit union1 as defined in section    
#aja of the ,federal ,credit ,union ,act
 7#ab ,u4,s4,c4 #ageb74  7,c7 ,impact   
credit union ,the term impact credit    
union means a credit union that-- 7i7   
has total consolidated assets of less   
than #aj1jjj1jjj1jjj2 and  7ii7 extends 
at least #ej percent of the loans       
extended by the credit union to         
borrowers who are low-income borrowers1 
as determined by the ,secretary4  7,d7  
,impact bank ,the term impact bank means
 a depository institution1 as defined in
 section #c of the ,federal ,deposit    
,insurance ,act 7#ab ,u4,s4,c4 #ahac7   
that-- 7i7 has total consolidated assets
 of less than #aj1jjj1jjj1jjj2 and  7ii7
 extends at least #ej percent of the    
loans extended by the institution to    
borrowers who are low-income borrowers1 

as determined by the ,secretary4  7,e7  
,program ,the term ,program means the   
,community ,capital ,investment         
,program4  4