Bill Summary
This legislation is a bill that has been proposed to allocate an additional $1 billion to the Community Development Financial Institutions Fund, which provides financial and technical assistance to underprivileged communities. This funding is intended to support the provisions outlined in the Community Development Banking and Financial Institutions Act of 1994, specifically in regards to sections that provide assistance to low-income areas. This bill also states that certain subsections of the Act do not apply to the provision of this assistance.
Possible Impacts
1. The bill could provide financial assistance to individuals and organizations in need, potentially improving their financial stability and well-being.
2. The bill could also provide technical assistance, which could help people gain new skills and knowledge, potentially leading to better job opportunities and economic growth.
3. The exclusion of certain subsections in the provision of assistance could limit access to resources for some individuals or organizations, potentially affecting their ability to achieve their goals or improve their circumstances.
[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[H.R. 6329 Introduced in House (IH)]
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116th CONGRESS
2d Session
H. R. 6329
To provide supplemental appropriations to the Community Development
Financial Institutions Fund, and for other purposes.
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IN THE HOUSE OF REPRESENTATIVES
March 23, 2020
Ms. Adams introduced the following bill; which was referred to the
Committee on Appropriations
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A BILL
To provide supplemental appropriations to the Community Development
Financial Institutions Fund, and for other purposes.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SUPPLEMENTAL APPROPRIATION.
There is appropriated to the Community Development Financial
Institutions Fund, out of amounts in the general fund not otherwise
appropriated, $1,000,000,000 for fiscal year 2020, for providing
financial assistance and technical assistance under subparagraphs (A)
and (B) of section 108(a)(1) of the Community Development Banking and
Financial Institutions Act of 1994 (12 U.S.C. 4707(a)(1)), except that
subsections (d) and (e) of such section 108 shall not apply to the
provision of such assistance.
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