[20001228]RS20286_社区发展金融机构基金的重新授权.pdf

Congressional Research Service ? The Library of CongressCRS Report for CongressReceived through the CRS WebOrder Code RS20286Updated December 28, 2000Reauthorization of the Community DevelopmentFinancial Institutions FundPauline SmaleEconomic AnalystGovernment and Finance DivisionSummaryThe Community Development Financial Institutions Fund was established by P.L.103-325, enacted in August 1994. The purpose of the Fund is to provide credit andinvestment capital to distressed urban and rural areas through grants to qualifyingcommunity based organizations. The Funds programs also provide technical andtraining assistance. In addition, the Funds Bank Enterprise Awards (BEA) programfunds depository financial institutions that increase their lending and provision of financialservices in distressed communities. The fund is managed by the Secretary of theTreasury. From FY1996 through FY1999 Congress has appropriated $270 million tofund the CDFI Fund. The CDFIs Fund authorization expired September 30, 1998.Legislation, H.R. 629, to reauthorize the CDFI program for four years was introducedbut not passed in the 106th Congress. This report will not be updated. BackgroundIn 1992, President Clin