HR 7121
To authorize appropriations for the Community Development Financial Institutions Fund providing financial assistance and technical assistance for the benefit of certain minority communities, and for other purposes.
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Sign in to take action- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Bill overview
This bill authorizes the federal government to spend $5 billion over fiscal year 2020 to support the Community Development Financial Institutions Fund. This fund provides financial and technical assistance to organizations that help minority communities and Native American communities access capital and develop their economies. Specifically, the bill aims to bolster lending institutions owned by socially and economically disadvantaged individuals, particularly those serving minority populations and Native American communities. It prioritizes funding for minority lending institutions and related programs.
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