The House and Senate have reached a $1.4 trillion spending agreement for Fiscal Year 2020, with a record-setting appropriation of $262 million for the CDFI Fund and an extension of the New Markets Tax Credit (NMTC) Program for one year with an increase in the allocation to $5 billion.
On June 26, 2019, the House passed the Fiscal Year (FY) 2020 Financial Services and General Government (FSGG) Appropriations bill, H.R. 3351 by a vote of 224-196.
On July 18, the House of Representatives voted in favor of three amendments aimed to increase the overall FY19 appropriation for the CDFI Fund to $223 million.
A voice vote was held, and all three amendments were accepted: