Legislation6 days ago
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To authorize implementation grants to community-based nonprofits to operate one-stop reentry centers.
HR8548Rep. Kamlager-Dove, Sydney [D-CA-37] (D-CA)
introduced
S3940119th CongressWALLET
Access to Fair Financing for Opportunity and Resilient Development Act
Sponsored By: Senator Steve Daines
Introduced
Summary
Expand access to long‑term capital and liquidity for community development. This bill would strengthen the CDFI Fund by enlarging bond guarantees, boosting capitalization support, and creating a Native CDFI relending program to promote homeownership in rural Native communities.
Show full summary
- Community lenders would get bigger and more flexible funding tools. The bill raises the maximum direct award from $5 million to $20 million, broadens eligible activities, and clarifies guarantees for bonds and notes to support community and economic development.
- Native communities and borrowers would get a dedicated relending pathway. The bill creates a set‑aside for Native community development financial institutions, defines eligible Native entities and priority Tribal lands, caps direct loan disbursements, requires matching funds, and prioritizes borrowers on or near priority Tribal lands.
- Oversight and program evaluation would increase. The Secretary of the Treasury must testify annually on CDFI Fund operations and the bill requires a program effectiveness report for the bond guarantee program within three years, plus additional reporting and evaluation across programs.
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Bill Overview
Analyzed Economic Effects
3 provisions identified: 2 benefits, 0 costs, 1 mixed.
New Native lender relending program
If enacted, this would create a Native CDFI Relending Program to expand home loans in rural Native communities. The Secretary could use up to $50,000,000 per year in direct loans to Native CDFIs. Recipient Native CDFIs would generally need to match 20% of amounts received, but the match must be waived for loans to priority borrowers on priority Tribal land. Native CDFIs could get an operational grant equal to 20% of the direct loan when performance is satisfactory. The program could use up to 3% of funds for administration and $1,000,000 is authorized for outreach in each of fiscal years 2025–2027. Native CDFIs would submit annual lending reports, and federal agencies must evaluate the program within 3 years.
More liquidity for community lenders
If enacted, this would let the CDFI Fund buy loans and loan participations from community lenders. It would let the Fund provide guarantees, loan-loss reserves, and other credit enhancements to boost CDFI liquidity. Groups do not have to be certified CDFIs if their main purpose is community development. All money the Treasury gets from Emergency Capital Investment Fund purchases would be deposited into the Fund and used for these purposes. The Treasury Secretary would be able to write rules to run the program.
Changes to CDFI bond guarantees
If enacted, this would change the CDFI bond guarantee program's timing and limits. The program's end date would be the later of 4 years after enactment or December 31, 2030. The Treasury could not guarantee any single financing for less than $25,000,000. Total guarantees in any fiscal year could not exceed $1,000,000,000. The law would calculate guarantees using the "outstanding principal amount." The Treasury must report on program effectiveness within 3 years.
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Sponsors & CoSponsors
Sponsor
Steve Daines
MT • R
Cosponsors
Sen. Warner, Mark R. [D-VA]
VA • D
Sponsored 2/26/2026
Mike Crapo
ID • R
Sponsored 2/26/2026
Sen. Smith, Tina [D-MN]
MN • D
Sponsored 2/26/2026
Mike Rounds
SD • R
Sponsored 2/26/2026
Andy Kim
NJ • D
Sponsored 2/26/2026
Sen. Risch, James E. [R-ID]
ID • R
Sponsored 2/26/2026
Charles Schumer
NY • D
Sponsored 2/26/2026
James Justice
WV • R
Sponsored 2/26/2026
Amy Klobuchar
MN • D
Sponsored 2/26/2026
Deb Fischer
NE • R
Sponsored 2/26/2026
Sen. Booker, Cory A. [D-NJ]
NJ • D
Sponsored 2/26/2026
Roger Wicker
MS • R
Sponsored 2/26/2026
John Hickenlooper
CO • D
Sponsored 2/26/2026
Sen. Sheehy, Tim [R-MT]
MT • R
Sponsored 2/26/2026
Chris Van Hollen
MD • D
Sponsored 2/26/2026
Dan Sullivan
AK • R
Sponsored 2/26/2026
Kirsten Gillibrand
NY • D
Sponsored 2/26/2026
Cindy Hyde-Smith
MS • R
Sponsored 2/26/2026
Sen. Coons, Christopher A. [D-DE]
DE • D
Sponsored 2/26/2026
Gary Peters
MI • D
Sponsored 2/26/2026
Sen. Bennet, Michael F. [D-CO]
CO • D
Sponsored 2/26/2026
Katie Britt
AL • R
Sponsored 2/26/2026
Sen. Wyden, Ron [D-OR]
OR • D
Sponsored 2/26/2026
Sen. Cassidy, Bill [R-LA]
LA • R
Sponsored 2/26/2026
Sen. Durbin, Richard J. [D-IL]
IL • D
Sponsored 2/26/2026
Sen. Murkowski, Lisa [R-AK]
AK • R
Sponsored 2/26/2026
Kevin Cramer
ND • R
Sponsored 2/26/2026
John Boozman
AR • R
Sponsored 2/26/2026
Sen. Heinrich, Martin [D-NM]
NM • D
Sponsored 2/26/2026
John Hoeven
ND • R
Sponsored 3/2/2026
Sen. Alsobrooks, Angela D. [D-MD]
MD • D
Sponsored 3/4/2026
Rep. Blunt Rochester, Lisa [D-DE-At Large]
DE • D
Sponsored 4/27/2026
Sen. Kaine, Tim [D-VA]
VA • D
Sponsored 4/27/2026
Sen. Schiff, Adam B. [D-CA]
CA • D
Sponsored 4/27/2026
Roll Call Votes
No roll call votes available for this bill.
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