CDFI Bond Guarantee Program Improvement Act of 2025
- senate
- house
- president
Last progress May 22, 2025 (6 months ago)
Introduced on May 22, 2025 by Tina Smith
House Votes
Senate Votes
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Presidential Signature
AI Summary
This bill renews and updates a federal program that guarantees certain long-term bonds and notes to support community and economic development. It focuses on helping mission-driven lenders serve neighborhoods with needs, by backing their financing for projects that grow local economies and improve community services. The text points to guarantees for bonds and notes used for community or economic development purposes, under an updated section 114A of existing law .
In plain terms, the goal is to make it easier and cheaper for qualified community lenders to raise money for local projects by having the federal government guarantee their debt. This can help channel more funding into things like small business growth, community facilities, and other development efforts in underserved areas. The document provided does not list dollar amounts, timelines, or detailed rules beyond reauthorizing and improving the bond guarantee program and clarifying that the guarantees cover bonds and notes for community or economic development .
- Who is affected: Community development lenders and the neighborhoods they serve
- What changes: The federal bond guarantee program is renewed and updated; guarantees apply to bonds and notes used for community or economic development
- When: The provided text does not specify effective dates or durations