WASHINGTON (6/24/14)--Legislation setting the funding for the National Credit Union Administration's Community Development Revolving Loan Fund Program (CDRLF), as well as the U.S. Treasury Department's Community Development Financial Institution (CDFIF), will be voted on this week by the House and Senate appropriations committees. The votes will be today and Wednesday respectively.
Last week, the House Appropriations subcommittee on general government passed the fiscal year 2015 appropriations bill by a voice vote. That bill would set funding for the CDFIF program at $230 million, an increase from $226 million last fiscal year. The CDFIF is designed to help promote access to capital and local economic growth in urban and rural low-income communities through monetary awards and the allocation of tax credits.
The bill also contains $1.071 million for the CDRLF program. These funds are available for technical assistance for low-income designated credit unions.
Also of interest to credit union this week:
At the conclusion of this week's session, the House and the Senate will both be in recess until the week of July 7.