US SB4430 | 2019-2020 | 116th Congress
Status
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]
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]
Summary
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.
Title
CDFI Crisis Fund Act
Sponsors
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] |
History
Date | Chamber | Action |
---|---|---|
2020-08-04 | Senate | Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. |
Subjects
Alaska Natives and Hawaiians
Banking and financial institutions regulation
Business investment and capital
Cardiovascular and respiratory health
Disaster relief and insurance
Emergency medical services and trauma care
Finance and financial sector
Financial crises and stabilization
Government trust funds
Housing and community development funding
Indian social and development programs
Infectious and parasitic diseases
Minority and disadvantaged businesses
Poverty and welfare assistance
Small business
Unemployment
Banking and financial institutions regulation
Business investment and capital
Cardiovascular and respiratory health
Disaster relief and insurance
Emergency medical services and trauma care
Finance and financial sector
Financial crises and stabilization
Government trust funds
Housing and community development funding
Indian social and development programs
Infectious and parasitic diseases
Minority and disadvantaged businesses
Poverty and welfare assistance
Small business
Unemployment
US Congress State Sources
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 |