US Congress House Bill 6017 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 12-0)
Status: Introduced on September 13 2016 - 25% progression, died in committee
Action: 2016-09-14 - Referred to the Subcommittee on Highways and Transit.
Pending: House Subcommittee on Highways and Transit Committee
Text: Latest bill text (Introduced) [PDF]

Race to the Job Initiative Act This bill requires the Department of the Treasury to establish and administer a grant program to provide anchor institution (i.e., a hospital, college, research center, or nonprofit institution) grants and infrastructure grants to eligible low-income communities for community development. Treasury shall select: (1) within the first year after enactment of this bill, 30 of such low-income communities to receive these grants; and (2) within the second year, an additional 20 of these communities. Treasury must award a capital assistance grant to each community development financial institution specified in the grantee's application to make loans to, and invest in, businesses, organizations, or public-private partnerships located in the eligible low-income community. The bill amends the Internal Revenue Code to allow a new markets tax credit for investment in a partner community development financial institution without regard to allocation limitations on such credit. The bill amends the Community Development Banking and Financial Institutions Act of 1994 to limit to $20 million (in the aggregate, during a three-year period) an award from the Community Development Financial Institutions (CDFI) Fund to a community development financial institution and its subsidiaries and affiliates receiving a capital assistance grant under this bill. CDFI funds are limited annually for these entities to: (1) $10 million for financial assistance, and (2) $500,000 for technical assistance.

Race to the Job Initiative Act

Rep. Cedric Richmond [D-LA]	Rep. Gregory Meeks [D-NY]	Rep. Rick Larsen [D-WA]	Rep. Ed Perlmutter [D-CO]
Rep. Ron Kind [D-WI]	Rep. James Himes [D-CT]	Rep. Terri Sewell [D-AL]	Rep. Kathleen Rice [D-NY]
Rep. John Carney [D-DE]	Rep. Robin Kelly [D-IL]	Rep. Bill Foster [D-IL]	Rep. Jose Serrano [D-NY]

Date	Chamber	Action
2016-09-14	House	Referred to the Subcommittee on Highways and Transit.
2016-09-13	House	Referred to House Ways and Means
2016-09-13	House	Referred to House Transportation and Infrastructure
2016-09-13	House	Referred to House Financial Services
2016-09-13	House	Referred to the Committee on Financial Services, and in addition to the Committees on Transportation and Infrastructure, and Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
2016-09-13	House	Introduced in House

Type	Source
Summary	https://www.congress.gov/bill/114th-congress/house-bill/6017/all-info
Text	https://www.congress.gov/114/bills/hr6017/BILLS-114hr6017ih.pdf