S.Amdt. 4354

The Access to Fair Financing for Opportunity and Resilient Development Act is an amendment to bill H.R. 6644. Its purpose is to increase the supply of housing in America by improving how community development financial institutions (CDFIs) access and use financing.

The amendment aims to add or change the following:

• Accountability and Reporting: It requires the Secretary of the Treasury to testify annually before specific House and Senate committees regarding the operations of the Fund. It also mandates reports on the effectiveness of the CDFI bond guarantee program and the use of liquidity-enhancing funds.

• Bond Guarantee Program: It updates the CDFI Bond Guarantee Program by setting a minimum guarantee amount of $25,000,000, a yearly cap of $1,000,000,000, and extending the program's expiration date to the later of December 31, 2030, or 4 years after the Act is passed.

• Liquidity Support: It expands how the Fund provides assistance to organizations to help CDFIs. This includes purchasing loans, providing guarantees, or other credit enhancements. It also increases certain funding limits from $5,000,000 to $20,000,000.

• Native CDFI Relending Program: It creates a specific set-aside of up to $50,000,000 per fiscal year for direct loans to Native CDFIs. These loans are intended to increase homeownership and mortgage transactions for members of Indian Tribes, Alaska Native communities, and Native Hawaiian communities, with priority given to those on priority Tribal land.

• Support for Native CDFIs: It provides grants for operational support (equal to 20 percent of the direct loan amount) and appropriates $1,000,000 for fiscal years 2025, 2026, and 2027 for outreach and technical assistance.