[20011210]RS20972_社区发展金融机构（CDFI）基金.pdf

1 Funding is provided through the annual VA-HUD-Independent Agencies appropriations. Adescription of the process and progress of that bill is provided by CRS Report RL31004,Appropriations for FY2002: VA, HUD, and Independent Agencies, by Dennis W. Snook and E.Richard Bourdon.Congressional Research Service The Library of CongressCRS Report for CongressReceived through the CRS WebOrder Code RS20972Updated December 10, 2001Community Development FinancialInstitutions (CDFI) FundPauline H. SmaleEconomic AnalystGovernment and Finance DivisionSummaryThe Community Development Financial Institutions Fund was established in August1994 by P.L. 103-325. The purpose of the Fund is to provide credit and investmentcapital to distressed urban and rural areas by investing in and supporting communitybased organizations. The Funds programs also encourage banks and thrifts to expandtheir activities in distressed communities. The programs provide technical and trainingassistance. In addition, the Fund will administer the New Markets Tax Credit programcreated by P.L. 106-554. The Fund is managed by the Secretary of the Treasury. FromFY1996 through FY2001, Congress appropriated $483 million to the CDFI F