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S. 3940 (119th Congress)Committee
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Access to Fair Financing for Opportunity and Resilient Development Act

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The bill amends the Community Development Banking and Financial Institutions Act of 1994 to require the Treasury Secretary to testify annually before Senate and House banking committees, at the chairmen's discretion, on the CDFI Fund's prior-year operations. It modifies the CDFI Bond Guarantee Program by adjusting guarantee calculations, setting a $25 million minimum and $1 billion annual cap on guarantees, and extending the program's sunset to the later of four years after enactment or December 31, 2030. It also expands Treasury authority to fund liquidity and credit enhancement for CDFIs, raises a related funding threshold from $5 million to $20 million, and adds a set-aside for Native CDFIs in a Housing Act rural relending program. The bill requires Treasury reports on the bond program and CDFI liquidity activities.

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