House Approps’ Draft FY23 FSGG Bill Provides $336.4M for CDFI Fund

CDFI Coalition
Wednesday, June 15, 2022

Last week, the House Appropriations released a draft of FSGG appropriations bill for FY 23. The FSGG Appropriations Subcommittee was scheduled to mark-up the bill June 16. Full Committee consideration is scheduled for tomorrow, June 24, with floor consideration soon thereafter. The Senate Appropriations Committee has not yet released a mark-up schedule. The bill appropriations $336.4 million for the CDFI Fund. The amount is $41 million higher than Fiscal Year 2022 and approximately $5 million above the budget request. The bill also authorized $500 million for the CDFI Bond Guarantee. As is past years, the bill directs the Fund to prioritize Financial Assistance awards to organizations lending and investing in high poverty areas – census tracts with poverty rates of at least 20 percent over the period of 2016-2020. The bill also continues to waive matching requirements for the NACA program.