Section 1 Short title
This Act may be cited as the “CDFI Bond Guarantee Program Improvement Act of 2022”.
CDFI Bond Guarantee Program Improvement Act of 2022
A BILL
To amend the Community Development Banking and Financial Institutions Act of 1994 to reauthorize and improve the community development financial institutions bond guarantee program, and for other purposes.
Sec. 2 Guarantees for bonds and notes issued for community or economic development purposes
Section 114A of the Community Development Banking and Financial Institutions Act of 1994 (12 U.S.C. 4713a) is amended—
in subsection (c)(2), by striking “, multiplied by an amount equal to the outstanding principal balance of issued notes or bonds”;
in subsection (e)(2)(B), by striking “$100,000,000” and inserting “$25,000,000”; and
by striking subsection (k).