OPPORTUNITY FINANCE NETWORK-FORMERLY NATIONAL COMMUNITY CAP

Budget/Appropriations

H.R. 8254 Financial Services and General Government Appropriations Act 2023- This covers the financial services and general government appropriations bill for FY 2023 and specifically funds several programs that CDFIs can access. S. 3552/ H.R. 6531 Targeting Resources to Communities in Need Act - Would direct the Office of Management and Budget (OMB) to work with every federal program to find a way to increase the share of funds going to persistent poverty counties, high poverty census tracts, and other persistent poverty areas. S. 4165 CDFI National Crisis Fund Act- Would create the CDFI National Crisis Fund to provide grants to CDFIs after emergency or disaster declarations or in certain economic conditions to support small businesses and low-income populations.

TargetedSENATE · HOUSE OF REPRESENTATIVES

Taxation/Internal Revenue Code

S.456/H.R. 1321 New Markets Tax Credit Extension Act of 2021 - This bill makes the new markets tax credit permanent. It also modifies the credit to (1) provide for an inflation adjustment to the limitation amount for the credit after 2018, and (2) allow an offset against the alternative minimum tax for the credit (determined with respect to qualified equity investments initially made after 2018). S. 4418 Community Development Investment Tax Credit Act of 2022- This bill would create a new tax credit to support private investment into CDFIs.

TargetedSENATE · HOUSE OF REPRESENTATIVES