S. 3441: CDFI Bond Guarantee Program Improvement Act of 2022

117th Congress · introduced 2022-01-05 · Finance and Financial Sector · Latest: Committee on Banking, Housing, and Urban Affairs Subcommittee on Housing, Transportation, and Community Development. Hearings held.

federal

Follow this bill, step by step

Where it came from: introduced 2022-01-05 · official record
Who proposed it: Sen. Smith, Tina [D-MN] · what a sponsor is
What happened next: no floor votes in our records yet. Why?
Where it stands now: Committee on Banking, Housing, and Urban Affairs Subcommittee on Housing, Transportation, and Community Development. Hearings held. Not final yet: this can still change. We check for updates every day.
If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

CDFI Bond Guarantee Program Improvement Act of 2022

Plain summary

CDFI Bond Guarantee Program Improvement Act of 2022 This bill permanently reauthorizes and otherwise revises the Community Development Financial Institutions (CDFI) Bond Guarantee Program. Specifically, the bill (1) reduces the CDFI Bond Guarantee Program minimum issuance amount from $100 million to $25 million, and (2) reduces the amount allowed to be held in a CDFI's relending account. (CDFIs are financial institutions serving low-income communities. Designation as a CDFI allows an institution to participate in programs such as the CDFI Bond Guarantee Program. The program provides financing to CDFIs through federal credit subsidies that allow CDFIs to issue bonds.)

Congressional Research Service summary (Introduced in Senate), quoted unchanged (nonpartisan). Read the source.

What a vote does

A “Yea” vote

If it passes both chambers and is signed, it becomes law.

A “Nay” vote

If it is not passed, current law stays as it is.

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What does this mean? (plain words)

Official text

CDFI Bond Guarantee Program Improvement Act of 2022

Source: Congressional Research Service summary (Introduced in Senate)

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Sen. Smith, Tina [D-MN] · 1 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Mike Rounds (R-SD)

Sponsor's campaign money: Sen. Smith, Tina [D-MN] reported raising $48,878 (2025–2026). Details. Shown for context only; it does not mean any donor supported this bill.

No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.

Words on this page, explained (2)

Bill: A proposed law. It becomes law only if it passes the legislature and is signed by the president or governor (or a veto is overridden).
Bond: A way to borrow money. A government sells bonds to raise money now and promises to pay it back with interest over time. Bonds repaid from taxes often need voter approval.

Plain meanings written from linked sources. All words.

Sources

Congressional Research Service summary (Introduced in Senate)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-117s3441.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/117/s>

Record fed-us-cong117-s3441 · catalog fed-us-congress-bills-cong117 · updated 2026-11-15 by psicol fed-bills-cong117