Sec. 517. Native American community development financial institutions assistance program
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Section 108(e) of the Community Development Banking and Financial Institutions Act of 1994 ( 12 U.S.C. 4707(e) ) is amended— in paragraph (1)— in the third sentence, by striking The Fund shall provide no assistance and inserting the following: Subject to subparagraph (B), no assistance may be provided by the Fund ; in the second sentence, by striking Such matching funds and inserting the following: The matching funds required under clause
(i); by striking the paragraph designation and heading and all that follows through Assistance in the first sentence and inserting the following: Subject to subparagraph
(B)and paragraph (2), assistance ; and by adding at the end the following: The requirements of subparagraph
(A)shall not apply to any individual or entity using the assistance provided under this section only for the benefit of Indians, Alaska Natives, Native Hawaiians, or an Indian tribe. ; and in paragraph (2), in the matter preceding subparagraph (A), by striking paragraph
(1)and inserting paragraph (1)(A) . Section 121 of the Community Development Banking and Financial Institutions Act of 1994 ( 12 U.S.C. 4718 ) is amended— by redesignating subsection
(c)as subsection (d); and by inserting after subsection
(b)the following: There are authorized to be appropriated, and there are appropriated, out of any monies in the Treasury not otherwise appropriated, to the Fund for the purpose of providing financial assistance, technical assistance, training, and outreach programs to benefit Indian tribes, primarily through Native Community Development Financial Institutions with experience and expertise in community development banking and lending in Indian country, and that are committed to working with Indian organizations, Indian tribes, tribal organizations, and other appropriate individuals and entities— for fiscal year 2023, $55,000,000; for fiscal year 2024, $65,000,000; for fiscal year 2025, $70,000,000; for fiscal year 2026, $75,000,000; and for fiscal year 2027 and each fiscal year thereafter, $80,000,000, subject to paragraph (2). The amounts made available under paragraph (1)(E) for fiscal year 2028 and each fiscal year thereafter shall be adjusted annually to reflect the change in the Consumer Price Index for All Urban Consumers published by the Bureau of Labor Statistics. .
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Sec. 517
Native American community development financial institutions assistance program
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