Sec. 708. Appropriation to CDFI Fund for disaster relief in Puerto Rico and the Virgin Islands
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In this section— the term community development financial institution has the meaning given the term in section 103 of the Community Development Banking and Financial Institutions Act of 1994 ( 12 U.S.C. 4702 ); and the term Fund means the Community Development Financial Institutions Fund established under section 104(a) of the Community Development Banking and Financial Institutions Act of 1994 ( 12 U.S.C. 4703(a) ). Out of funds of the Treasury not otherwise appropriated, there is appropriated to the Fund $250,000,000, which shall— be used for financial and technical assistance to community development financial institutions for costs relating to disaster relief and long-term recovery in covered disaster areas; and remain available during the 5-year period beginning on the date of enactment of this Act.
Notwithstanding any other provision of law, during the 5-year period beginning on the date of enactment of this Act, there shall be no requirement to match any assistance provided by the Fund to community development financial institutions for costs relating to disaster relief and long-term recovery in covered disaster areas with funds from sources other than the Federal Government.
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Sec. 708
Appropriation to CDFI Fund for disaster relief in Puerto Rico and the Virgin Islands
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