OPPORTUNITY FINANCE NETWORK-FORMERLY NATIONAL COMMUNITY CAP

Budget/Appropriations

S. 869 CDFI Bond Guarantee Improvement Act - This bill will authorize the program for four years, to provide certainty to borrowers and lenders. It will also reduce the minimum loan size to $25 million and remove the annual limit on guarantees, to allow smaller CDFI to utilize the program and to support more community development projects

TargetedSENATE · HOUSE OF REPRESENTATIVES

Taxation/Internal Revenue Code

S.234/H.R. 2539 New Markets Tax Credit Extension Act of 2023 - 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. 1455 The Rural Jobs Act This bill would allocate an additional $500 million in NMTC allocations for each of the next two years and target that increase specifically to rural communities, persistent poverty counties, and high migration counties. S.2963 - Community Development Investment Tax Credit Act of 2023 -This bill allows investors a business-related tax credit for investment in a Community Development Financial Institution (CDFI). The applicable percentage of such credit is 3% for the first 10 years of investment in a CDFI with a 1% increase after the initial credit allowance date and for investments without a fixed term or duration.

TargetedSENATE · HOUSE OF REPRESENTATIVES