,,ii  #aahth ,,congress  #ast ,session  
,s4 #hfi  ,,in ,,the ,,senate ,,of ,,the
 ,,united ,,states  ,march #af1         
#bjbc,ms4 ,smith 7for herself1 ,mr4     
,rounds1 ,ms4 ,lummis1 ,mr4 ,daines1    
,mr4 ,moran1 ,ms4 ,klobuchar1 ,mr4      
,menendez1 and ,mr4 ,warner7 introduced 
the following bill2 which was read twice
 and referred to the ,committee on      
,banking1 ,housing1 and ,urban ,affairs 
,a ,,bill  ,to amend the ,community     
,development ,banking and ,financial    
,institutions ,act of #aiid to          
reauthorize and improve the community   
development financial institutions bond 
guarantee program1 and for other        
purposes4  #a4 ,short title ,this ,act  
may be cited as the ,,cdfi ,bond        
,guarantee ,program ,improvement ,act of
 #bjbc4  #b4 ,sense of ,congress ,it is 
the sense of ,congress that the         
authority to guarantee bonds under      
section #aad;,a of the ,community       
,development ,banking and ,financial    
,institutions ,act of #aiid 7#ab        

,u4,s4,c4 #dgac;a7 7commonly referred to
 as the ,,cdfi ,bond ,guarantee         
,program7 provides community development
 financial institutions with a          
sustainable source of long-term capital 
and furthers the mission of the         
,community ,development ,financial      
,institutions ,fund 7established under  
section #ajd7;a7 of such ,act 7#ab      
,u4,s4,c4 #dgjc7;a77 to increase        
economic opportunity and promote        
community development investments for   
underserved populations and distressed  
communities in the ,united ,states4  #c4
 ,guarantees for bonds and notes issued 
for community or economic development   
purposes  7a7 ,in general ,section      
#aad;,a of the ,community ,development  
,banking and ,financial ,institutions   
,act of #aiid 7#ab ,u4,s4,c4 #dgac;a7 is
 amended-- 7#a7 in subsection 7c77#b71  
by striking 1 multiplied by an amount   
equal to the outstanding principal      
balance of issued notes or bonds2  7#b7 
by amending subsection 7e77#b7 to read  

as follows3  7#b7 ,limitation on        
guarantee amount ,the ,secretary may not
 guarantee any amount under the program 
equal to less than #be1jjj1jjj1 but the 
total of all such guarantees in any     
fiscal year may not exceed              
#a1jjj1jjj1jjj4  2 and  7#c7 in         
subsection 7k71 by striking ,september  
#cj1 #bjad and inserting the date that  
is #d years after the date of enactment 
of the ,,cdfi ,bond ,guarantee ,program 
,improvement ,act of #bjbc4  7b7        
,clerical amendment ,the table of       
contents in section #a7;b7 of the       
,riegle ,community ,development and     
,regulatory ,improvement ,act of #aiid  
7,public ,law #ajc-cae2 #ajh ,stat4     
#bafj7 is amended by inserting after the
 item relating to section #aad the      
following3  ,sec4 #aad;,a4 ,guarantees  
for bonds and notes issued for community
 or economic development purposes4  4   
#d4 ,report on the ,,cdfi bond guarantee
 program ,not later than #a year after  
the date of enactment of this ,act1 and 

not later than #c years after such date 
of enactment1 the ,secretary of the     
,treasury shall issue a report to the   
,committee on ,banking1 ,housing1 and   
,urban ,affairs of the ,senate and the  
,committee on ,financial ,services of   
the ,house of ,representatives on the   
effectiveness of the ,,cdfi bond        
guarantee program established under     
section #aad;,a of the ,community       
,development ,banking and ,financial    
,institutions ,act of #aiid 7#ab        
,u4,s4,c4 #dgac;a74