legislation: 114-hr-6017
Data license: Public Domain (U.S. Government data) · Data source: Federal Register API & Regulations.gov API
This data as json
| bill_id | congress | bill_type | bill_number | title | policy_area | introduced_date | latest_action_date | latest_action_text | origin_chamber | sponsor_name | sponsor_state | sponsor_party | sponsor_bioguide_id | cosponsor_count | summary_text | update_date | url |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 114-hr-6017 | 114 | hr | 6017 | Race to the Job Initiative Act | Finance and Financial Sector | 2016-09-13 | 2016-09-14 | Referred to the Subcommittee on Highways and Transit. | House | Rep. Richmond, Cedric L. [D-LA-2] | LA | D | R000588 | 11 | Race to the Job Initiative Act This bill requires the Department of the Treasury to establish and administer a grant program to provide anchor institution (i.e., a hospital, college, research center, or nonprofit institution) grants and infrastructure grants to eligible low-income communities for community development. Treasury shall select: (1) within the first year after enactment of this bill, 30 of such low-income communities to receive these grants; and (2) within the second year, an additional 20 of these communities. Treasury must award a capital assistance grant to each community development financial institution specified in the grantee's application to make loans to, and invest in, businesses, organizations, or public-private partnerships located in the eligible low-income community. The bill amends the Internal Revenue Code to allow a new markets tax credit for investment in a partner community development financial institution without regard to allocation limitations on such credit. The bill amends the Community Development Banking and Financial Institutions Act of 1994 to limit to $20 million (in the aggregate, during a three-year period) an award from the Community Development Financial Institutions (CDFI) Fund to a community development financial institution and its subsidiaries and affiliates receiving a capital assistance grant under this bill. CDFI funds are limited annually for these entities to: (1) $10 million for financial assistance, and (2) $500,000 for technical assistance. | 2023-01-11T13:33:49Z |