Summary

Updates the federal bond guarantee rules for community development financial institutions (CDFIs) by setting a $25 million minimum for single guaranteed notes or bonds and capping total annual guarantees at $1 billion. The law removes a specific calculation phrase in the statute, replaces a prior sunset date reference with the new Act’s name, expresses a nonbinding congressional view on the program’s value, and requires the Treasury to submit reports on program effectiveness at 1 year and 3 years after enactment.

• Sets a $25 million minimum for any single guaranteed CDFI bond or note.
• Caps total annual guarantees at $1 billion under the CDFI bond guarantee program.
• Removes a specific monetary calculation phrase from the statute, altering how amounts may be calculated.
• Replaces an old sunset date string in the statute with a reference to this Act.
• Requires Treasury to report on program effectiveness at 1 year and 3 years after enactment.
• Includes a nonbinding statement that the bond guarantee authority supports CDFIs and community development.
• Does not appropriate new funds; it changes program rules and oversight.
• Adds a clerical table-of-contents entry for the underlying statute.