Policy and Advocacy

FY18 CDFI Fund Appropriations

The House passed the Financial Services and General Government (FSGG) Fiscal Year (FY) 2018 Appropriations bill in July. The bill includes a top-line for CDFI Fund at $190 million and, while this is $58 million below the FY 17 level, it is $176 million more than the request in President Trump’s budget. The President’s budget proposed to eliminate all of Fund’s grant money with a small amount requested for administration of the New Markets Tax Credit, Capital Magnet Fund and the Bond Guarantee program. As we have reported previously, the Heritage Foundation, which played major role in the transition effort, had recommended elimination of the Fund.

In late November 2017, the Senate FSGG Appropriations Subcommittee unveiled its FY 18 bill, maintaining appropriations for the CDFI Fund at the historic $248 million FY 17 level. This bill is not expected to be marked up and will instead be used for negotiations on a final FY 18 appropriations bill.

More resources and information is linked below the appropriations chart.

Treasury Programs FY 17 Final FY 18 Budget FY 18 House FY 18 Senate FY 18 Final
CDFI Fund 248 14 190 248  
CDFI FA/TA Grant Programs 161.5 0 137 181.5  
Native Initiative 15.5 0 15 15.5  
Healthy Food Financing Initiative 22 0 0 0  
Bank Enterprise Award 23 0 15 25  
Capital Magnet Fund*        
Admin and Research 26 14 23 26  
Disabilities Fund** 3   3    
Bond Program 500 500 500 500  

* mandatory account authorized under the Housing and Economic Recovery Act of 2008 and proposed for repeal in 2018

** set-aside from the FA/TA appropriations

 

The CDFI Coalition and other members have weighed-in with Treasury Secretary Mnuchin in support of the CDFI Fund.

The FY 17 CDFI Fund appropriation was the largest in the history of the program at $248 million.  This is in large part due to the outreach and education on the impact of CDFIs in Members’ of Congress Districts. The path ahead for FY 18 will certainly be difficult, with the Administration once again calling to eliminate funding for the CDFI Fund grant programs. Below is information for the CDFI community to use to educate Congress and request their support for FY 18 appropriations.

Fact Sheets and Other CDFI Resources

Past materials (by fiscal year):
[wptabs type=”1″][wptabtitle]2017[/wptabtitle][wptabcontent] FY 2017 Advocacy Materials

[/wptabcontent] [wptabs type=”1″][wptabtitle]2016[/wptabtitle][wptabcontent] FY 2016 Advocacy Materials 

[/wptabcontent] [wptabs type=”1″][wptabtitle]2015[/wptabtitle][wptabcontent] FY 2015 Advocacy Materials 

[/wptabcontent] [wptabs type=”1″][wptabtitle]2014[/wptabtitle][wptabcontent] [/wptabcontent] [wptabs type=”1″][wptabtitle]2013[/wptabtitle][wptabcontent] [/wptabcontent] [wptabs type=”1″][wptabtitle]2012[/wptabtitle][wptabcontent] [/wptabcontent] [wptabtitle]2011[/wptabtitle][wptabcontent] FY 2011 Senator Menendez letter in support of CDFI Fund of $247 Million for the CDFI Fund (4/1/2011)

[/wptabcontent][wptabtitle]2010[/wptabtitle][wptabcontent] CDFI Coalition Comments on Authourizing Statute 5/07/2010

FY 2011 House Sign on Letter (03/23/10)

[/wptabcontent][wptabtitle]2008[/wptabtitle][wptabcontent] CDFI Coalition letter to Congress regarding Community Development Stimulus Program(12/08/08)

Newsweek Article: A Risk Worth Taking: The great work of the CDFI Industry, in light of the current financial crisis, was recently highlighted in Newsweek (11/24/08)

CDFI Coalition letter to Treasury regarding TARP (11/12/08)

The CDFI Fund’s Fiscal Year 2008 Awards for the CDFI Program (Financial Assistance and Technical Assistance) Policy Analysis

Senators Menendez (D-NJ) and Dole (R-NC) circulated a letter in support of at least a $150 million appropriation for the CDFI Fund in FY 2009 – (4/23/08)

[/wptabcontent][wptabtitle]2007[/wptabtitle][wptabcontent]

The CDFI Fund’s Fiscal Year 2007 Awards for the CDFI Program (Financial Assistance and Technical Assistance) Policy Analysis – (11/6/2007)

[/wptabcontent][wptabtitle]2006[/wptabtitle][wptabcontent]

The report provides details on CDFI Fund policies and their impact on the Native CDFI industry, Native training and capacity building programs, award distribution analysis, and other information relevant to potential and current Native CDFI practitioners – (11/6/2006)

The CDFI Fund’s Fiscal Year 2006 Awards for the CDFI Program (Financial Assistance and Technical Assistance) Policy Analysis – (10/3/2006)

Analysis: CDFI Participation in the New Markets Tax Credit Program’s Fourth Round (6/22/2006)

[/wptabcontent][wptabtitle]2005[/wptabtitle][wptabcontent] CDFI Coalition Analysis: FY 2005 Bank Enterprise Awards. In this analysis, the Coalition analyzes the most recent Bank Enterprise Awards from the CDFI Fund –  (11/17/2005)

CDFI Coalition Analysis: Fiscal Year 2005 Awards for Financial Assistance. In this analysis, the Coalition analyzes the most recent Financial Assistance Awards from the CDFI Fund – (11/17/2005)

CDFI Coalition Analysis: FY 2005 Technical Assistance Awards. In this analysis, the Coalition analyzes the most recent Technical Assistance Awards from the CDFI Fund –  (11/17/2005)

CDFI Coalition joins other community development advocates in calling for President Bush’s initial Hurricane Katrina recovery effort speech to become a reality. (11/17/2005)

This spreadsheet provides a detailed analysis of Bank Enterprise Award (BEA) program awards from FY 1999 – FY 2004. The second spreadsheet documents demand for the program from its inception –  (7/20/2005)

CDFI Coalition Comments on New Markets Tax Credit Program: The CDFI Coalition submitted comments to the CDFI Fund concerning Targeted Populations under the New Markets Tax Credit Program –  (7/8/2005)

CDFI Coalition Analysis: First Three Rounds of the New Markets Tax Credit Allocations. The CDFI Coalition examined the performance and utilization of New Markets Tax Credits of CDFIs over the course of the first three rounds of tax credit allocations. The analysis highlights the consistently high CDFI Success Rate under the program – (6/3/2005)

Strengthening America’s Communities Initiative Comments. The CDFI Coalition has submitted these comments in response to the Strengthening America’s Communities Initiative Advisory Committee’s solicitation for public comments. The comments submitted by the Coalition stress the importance of direct access to Fed –  (5/9/2005)

Senator Bond Cites Importance of CDFI Fund: Senator Kit Bond (R-MO): Chairman of the Appropriations Subcommittee with jurisdiction over the CDFI Fund, spoke of the importance of continuing the CDFI Fund grant programs at a recent hearing with Treasury Secretary Snow focusing on Appropriations  (4/26/2005)

Fresno Bee Article-SACI Advisory Committee: Fresno Bee article describing the first meeting of the Strengthening America’s Communities Initiative Advisory Committee –  (4/16/2005)

CDFI Coalition’s Draft CRA Comment Letter: The CDFI Coalition has drafted a response to the recently proposed modifications to the Community Reinvestment Act by the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, and the Federal Reserve Board – (4/15/2005)

Senate Sign-on Letter in Support of CDFI Fund Appropriations: On April 8, Senators Santorum (R-PA) and Corzine (D-NJ) began circulating a letter in support of at least an $80 million appropriation for the CDFI Fund in FY 2006 – 4/13/2005)

Senators Committed to Sign the Santorum-Corzine Letter: To date, 54 Senators have signed the Santorum-Corzine letter. Please see if your Senators have signed the letter – (4/13/2005)

Funding Opportunity for Small Business Lenders (2/22/2005)This Request for Investment Proposals details the Corporation for Enterprise Development’s (CFED) new initiative for CDFIs that offers working lines of credit to businesses

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