S. 3441 — Introduced in Senate

II 117th CONGRESS 2d Session S. 3441 IN THE SENATE OF THE UNITED STATES January 5, 2022Ms. Smith (for herself and Mr. Rounds) introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs A BILL To amend the Community Development Banking and Financial Institutions Act of 1994 to reauthorize and improve the community development financial institutions bond guarantee program, and for other purposes. 1. Short title This Act may be cited as the CDFI Bond Guarantee Program Improvement Act of 2022. 2. Guarantees for bonds and notes issued for community or economic development purposes Section 114A of the Community Development Banking and Financial Institutions Act of 1994 (12 U.S.C. 4713a) is amended— (1) in subsection (c)(2), by striking , multiplied by an amount equal to the outstanding principal balance of issued notes or bonds; (2) in subsection (e)(2)(B), by striking $100,000,000 and inserting $25,000,000; and (3) by striking subsection (k).