Sec. 814. Community Development Financial Institutions Fund
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There is appropriated, out of amounts in the Treasury not otherwise appropriated, for an additional amount for the Community Development Financial Institutions Fund Program Account for the fiscal year ending September 30, 2021, $1,000,000,000 to prevent, prepare for, and response to coronavirus, domestically or internationally. The Community Development Financial Institutions Fund (in this section referred to as the Fund ) shall, using amounts provided under subsection (a), provide grants using a formula that takes into account criteria such as certification status, financial and compliance performance, portfolio and balance sheet strength, and program capacity.
Of amounts appropriated under subsection (a), not less than $25,000,000 shall be for financial assistance, technical assistance, and training and outreach programs designed to benefit Native American, Native Hawaiian, and Alaska Native communities. The Fund shall make amounts provided under this section available to grantees not later than 60 days after the date of enactment of this Act. The Fund may use amounts appropriated under subsection
(a)for administrative expenses, including the administration of programs of the Fund and the New Markets Tax Credit Program under section 45D of the Internal Revenue Code of 1986. The amounts provided under this section are designated as an emergency requirement pursuant to section 4(g) of the Statutory Pay-As-You-Go Act of 2010 ( 2 U.S.C. 933(g) ). In the Senate, this section is designated as an emergency requirement pursuant to section 4112(a) of H. Con. Res. 71 (115th Congress), the concurrent resolution on the budget for fiscal year 2018.
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Sec. 814
Community Development Financial Institutions Fund
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