,,ii #aaith ,,congress #ast ,session ,s4 #bgah ,,in ,,the ,,senate ,,of ,,the ,,united ,,states ,september #d1 #bjbe,mr4 ,warner 7for himself1 ,mr4 ,crapo1 ,ms4 ,smith1 ,ms4 ,lummis1 ,mr4 ,peters1 and ,mrs4 ,hyde-,smith7 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 provide for capitalization assistance to enhance liquidity4 #a4 ,capitalization assistance to enhance liquidity 7a7 ,in general ,section #aac of the ,community ,development ,banking and ,financial ,institutions ,act of #aiid 7#ab ,u4,s4,c4 #dgab7 is amended-- 7#a7 by striking subsection 7a7 and inserting the following3 7a7 ,assistance 7#a7 ,in general ,the ,fund may provide funds to organizations for the purpose of-- 7,a7 purchasing loans that are originated by community development financial institutions1 loan participations1 or interests therein from community development financial institutions2 7,b7 providing guarantees1 loan loss reserves1 or other forms of credit enhancement to promote liquidity for community development financial institutions2 and 7,c7 otherwise enhancing the liquidity of community development financial institutions4 7#b7 ,construction of ,federal ,government funds ,for purposes of this subsection1 notwithstanding section #aje7;a77#i7 of the ,housing and ,community ,development ,act of #aigd 7#db ,u4,s4,c4 #ecje7;a77#i771 funds provided pursuant to such ,act shall be considered to be ,federal ,government funds4 2 7#b7 by striking subsection 7b7 and inserting the following3 7b7 ,selection 7#a7 ,in general ,the selection of organizations to receive assistance and the amount of assistance to be provided to any organization under this section shall be at the discretion of the ,fund and in accordance with criteria established by the ,fund4 7#b7 ,eligibility ,organizations eligible to receive assistance under this section-- 7,a7 shall have a primary purpose of promoting community development2 and 7,b7 are not required to be community development financial institutions4 7#c7 ,prioritization ,for the purpose of making an award of funds under this section1 the ,fund shall prioritize the selection of organizations that-- 7,a7 demonstrate relevant experience or an ability to carry out the activities under this section1 including experience leading or participating in loan purchase structures or purchasing or participating in the purchase of1 assigning1 or otherwise transferring1 assets from community development financial institutions2 7,b7 demonstrate the capacity to increase the number or dollar volume of loan originations or expand the products or services of community development financial institutions1 including by leveraging the award with private capital2 and 7,c7 will use the funds to support community development financial institutions that represent broad geographic coverage or that serve borrowers that have experienced significant unmet capital or financial services needs4 2 7#c7 in subsection 7c71 in the first sentence-- 7,a7 by striking #e1jjj1jjj and inserting #bj1jjj1jjj2 and 7,b7 by striking during any #c-year period2 and 7#d7 by adding at the end the following3 7g7 ,regulations ,the ,secretary may promulgate such regulations as may be necessary or appropriate to carry out the authorities or purposes of this section4 4 7b7 ,emergency ,capital ,investment ,funds ,section #ajd;,a of the ,community ,development ,banking and ,financial ,institutions ,act of #aiid 7#ab ,u4,s4,c4 #dgjc;a7 is amended by striking subsection 7l7 and inserting the following3 7l7 ,deposit of funds ,all funds received by the ,secretary in connection with purchases made pursuant of this section1 including interest payments1 dividend payments1 and proceeds from the sale of any financial instrument1 shall be deposited into the ,fund and used-- 7#a7 to provide financial assistance to organizations pursuant to section #aac2 and 7#b7 to provide financial and technical assistance pursuant to section #ajh1 except that subsection 7e7 of that section shall be waived4 4 7c7 ,annual reports 7#a7 ,definitions ,in this subsection1 the terms community development financial institution and ,fund have the meanings given the terms in section #ajc of the ,community ,development ,banking and ,financial ,institutions ,act of #aiid 7#ab ,u4,s4,c4 #dgjb74 7#b7 ,requirements ,not later than #a year after the date on which assistance is first provided under section #aac of the ,community ,development ,banking and ,financial ,institutions ,act of #aiid 7#ab ,u4,s4,c4 #dgab7 pursuant to the amendments made by subsection 7a7 of this section1 and annually thereafter through #bjbh1 the ,secretary of the ,treasury shall submit to ,congress a written report describing the use of the ,fund for the #a-year period preceding the submission of the report for the purposes described in subsection 7a77#a7 of such section #aac1 as amended by subsection 7a7 of this section1 which shall include1 with respect to the period covered by the report-- 7,a7 the total amount of-- 7i7 loans1 loan participations1 and interests therein purchased from community development financial institutions2 7ii7 loans that support affordable housing construction2 and 7iii7 guarantees1 loan loss reserves1 and other forms of credit enhancement provided to community development financial institutions2 7,b7 the effect of the purchases and guarantees made by the ,fund on the overall competitiveness of community development financial institutions2 and 7,c7 the impact of the purchases and guarantees made by the ,fund on the liquidity of community development financial institutions4