US Congress Senate Bill 4430 (Prior Session Legislation)

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Spectrum: Strong Partisan Bill (Democrat 10-1)
Status: Introduced on August 4 2020 - 25% progression, died in committee
Action: 2020-08-04 - Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Pending: Senate Banking, Housing, And Urban Affairs Committee
Text: Latest bill text (Introduced) [PDF]

Establishes the CDFI National Crisis Fund. The fund is authorized to make grants to community development financial institutions (CDFIs) providing financial products as emergency assistance to small businesses and low-income populations in certain circumstances. Furthermore, the fund is triggered by certain emergency declarations, including the COVID-19 (i.e., coronavirus disease 2019) emergency period; certain disaster declarations; a specified increase in a statewide unemployment rate; or a specified increase in the nationwide unemployment rate. Specified amounts in the fund are set aside for grants to Native and minority CDFIs. The Government Accountability Office must report on the impact of the fund and provide recommendations.

CDFI Crisis Fund Act

Sen. Brian Schatz [D-HI]	Sen. Tammy Baldwin [D-WI]	Sen. Chris Van Hollen [D-MD]	Sen. Kirsten Gillibrand [D-NY]
Sen. Ron Wyden [D-OR]	Sen. Elizabeth Warren [D-MA]	Sen. Dianne Feinstein [D-CA]	Sen. Richard Blumenthal [D-CT]
Sen. Bernard Sanders [I-VT]	Sen. Martin Heinrich [D-NM]	Sen. Jeff Merkley [D-OR]

Date	Chamber	Action
2020-08-04	Senate	Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Type	Source
Summary	https://www.congress.gov/bill/116th-congress/senate-bill/4430/all-info
Text	https://www.congress.gov/116/bills/s4430/BILLS-116s4430is.pdf