Policy and Advocacy

FY19 CDFI Fund Appropriations

The  Fiscal Year (FY) 2019 Appropriations process is currently underway. The President’s Budget proposed the elimination of funding for CDFI grant programs and the Capital Magnet Fund–the same request as the FY 18 budget. However, the FY 18 Appropriations omnibus that was signed into law on March 23rd, provided $250 million for CDFI Fund Programs, the highest level in the history of the CDFI Fund.

The FY 18 omnibus gives the CDFI Fund Programs appropriations a strong foundation for this year’s discussions. A House sign-on letter requesting no less than $248 million for FY 2019 was signed by 114 Representatives, including both Republicans and Democrats. The deadline for appropriations requests to the House Financial Services and General Government Appropriations Subcommittee was on March 19. The Senate has yet to announce their timeline.

 

Fact Sheets and Other CDFI Resources

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

Appropriations for Selected Financial Services and Commerce Programs, FY 17 Final, FY 18 Budget, House Senate, FY 19 Budget–$ in millions​

 

FY 17 Final

FY 18 Budget

FY 18 House

FY 18 Senate

FY 18 Final

FY 19 Budget

SBA Micro TA

31

25

31

31

31

25

SBA Micro Loans (ba)/loan

(4.3)44

(3.4)35.9

(3.48)35.9

(3.48)36

(3.48)36

(4)42

PRIME

5

0

0

0

 

0

7(a) guarantees

27,500

29,000

29,000

29,000

29,000

30,000

Treasury Programs

FY 17 Final

FY 18 Budget

FY 18 House

FY 18 Senate

FY 18 Final

FY 19 Budget

CDFI Fund

248

14

190

248

250

14

CDFI FA/TA Grant Programs***

161.5

0

137

181.5

160

0

Native Initiative

15.5

0

15

15.5

16

0

Healthy Food Financing Initiative 

22

0

0

 

22

0

Bank Enterprise Award

23

0

15

25

25

0

Capital Magnet Fund*

 

 

 

 

0

Admin and Research

26

14

23

26

27

14

Disabilities Fund**

3

 

3

 

 3

 

Bond Program

500

500

500

500

500

500

Economic Development Administration

FY 17 Final

FY 18 Budget

FY 18 House

FY 18 Senate

FY 18 Final

FY 19 Budget

Economic Development Assistance Programs

237

0

140

254

262.5

0

 

* mandatory account authorized under the Housing and Economic Recovery Act of 2008 and proposed for repeal in 2019                                                      

** set aside within FA/TA of which up to $3,000,000, not withstanding subsection (d) of section 108 of Public Law 103–325 (12 U.S.C. 4707 (d)), may be available to provide financial assistance, technical assistance, training, and outreach to community development financial institutions to expand investments that benefit individuals with disabilities:                                                                         

*** Not less than 10 percent shall be used for awards that support investments that serve populations living in persistent poverty counties: