United States 119th Congress Status: In Committee Bipartisan · 24 D · 17 R · 1 I cosponsors

S 3940 — Access to Fair Financing for Opportunity and Resilient Development Act

Last action — Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

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  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed Senate
  4. 4
    Passed House
  5. 5
    To Executive
  6. 6
    Enacted

This bill is in committee in the Senate. Introduced February 26, 2026. It must pass committee before a floor vote.

Next likely step: a committee vote, then a floor vote in the Senate.

Prognosis

Advancing 42% · moderate confidence

Where this bill stands today.

Odds of enactment

Low

How often bills like it became law.

  • In Committee

    Current position in the legislative process.

  • 42 sponsors

    1 primary, 41 co-sponsors signed on.

  • Bipartisan support

    Sponsored across 3 parties (24 D · 17 R · 1 I) — cross-party backing.

Prognosis reads this bill's own signals — stage, sponsorship breadth, committee status, recorded votes and cross-state momentum. Odds come from a model trained on which bills have become law.

Bill Text

How this bill changes current law

7 changes Share ↗

Compared against current U.S. Code AI-generated reading aid — verify against the official bill.

The bill mandates annual testimony from the Secretary of the Treasury regarding the operations of the Community Development Financial Institutions Fund and makes several amendments to enhance liquidity and ensure the effectiveness of funding programs.

  • 12 U.S.C. 4703(b)

    (5) Annual testimony.--The Secretary of the Treasury (or a designee of the Secretary) shall, at the discretion of the chairman of the Committee on Banking, Housing, and Urban Affairs of the Senate and chairman of the Committee on Financial Services of the House of Representatives, annually testify before such committees (or a subcommittee of such committees) regarding the operations of the Fund during the previous fiscal year.

    This change requires the Secretary of the Treasury to testify annually to Congress about the Fund's operations.

  • 12 U.S.C. 4713a

    multiplied by an amount equal to the outstanding principal balance of issued notes or bonds,

    This change removes the multiplier clause related to the outstanding principal balance from the guarantee amount calculation.

  • 12 U.S.C. 4713a(c)(2)

    the total of all such guarantees in any fiscal year may not exceed $1,000,000,000. → may not exceed $1,000,000,000.

    This change modifies the limitation on the total amount of guarantees by clarifying the minimum guarantee amount.

  • 12 U.S.C. 4712(a)

    the total of not more than $5,000,000 of assistance to an organization or its subsidiaries or affiliates under this section during any 3-year period. → the total of not more than $20,000,000 of assistance to an organization or its subsidiaries or affiliates under this section.

    This change increases the maximum assistance limit for organizations to $20,000,000.

  • 12 U.S.C. 4712(b)

    may not receive other financial or technical assistance under this subchapter.

    This change removes the limitation that organizations receiving assistance cannot receive other financial support under the same subchapter.

  • 12 U.S.C. 4712(a)

    and on the basis of not less than one dollar for each dollar provided by the Fund;

    This change eliminates the requirement that assistance received be matched on a dollar-for-dollar basis.

  • 12 U.S.C. 4713a(k)

    September 30, 2014 → the date that is the later of 4 years after the date of enactment of the Access to Fair Financing for Opportunity and Resilient Development Act or December 31, 2030.

    This change extends the expiration date of the authority to guarantee bonds.

Action History

  1. Introduced in Senate

  2. Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Sponsors

Sponsorship breakdown

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1 sponsors · 41 co-sponsors · 505 not signed on

Sponsors (1)

Co-sponsors (41)

Not signed on (505)

505 members have not signed on to this bill.

Show all 505 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

finance
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

Who sponsors S 3940?
S 3940 is sponsored by Warner, Mark R. (Democratic), Crapo, Mike (Republican), Smith, Tina (Democratic), Rounds, Mike (Republican), Kim, Andy (Democratic), Risch, James E. (Republican), Schumer, Charles E. (Democratic), Justice, James C. (Republican), Klobuchar, Amy (Democratic), Fischer, Deb (Republican), Booker, Cory A. (Democratic), Wicker, Roger F. (Republican), Hickenlooper, John W. (Democratic), Sheehy, Tim (Republican), Van Hollen, Chris (Democratic), Sullivan, Dan (Republican), Gillibrand, Kirsten E. (Democratic), Hyde-Smith, Cindy (Republican), Coons, Christopher A. (Democratic), Peters, Gary C. (Democratic), Bennet, Michael F. (Democratic), Britt, Katie Boyd (Republican), Wyden, Ron (Democratic), Cassidy, Bill (Republican), Durbin, Richard J. (Democratic), Murkowski, Lisa (Republican), Cramer, Kevin (Republican), Boozman, John (Republican), Heinrich, Martin (Democratic), Hoeven, John (Republican), Alsobrooks, Angela D. (Democratic), Blunt Rochester, Lisa (Democratic), Kaine, Tim (Democratic), Schiff, Adam B. (Democratic), Cortez Masto, Catherine (Democratic), King, Angus S., Jr. (Independent), Rosen, Jacky (Democratic), Shaheen, Jeanne (Democratic), Warren, Elizabeth (Democratic), Merkley, Jeff (Democratic), Moran, Jerry (Republican), and Daines, Steve (Republican).
What is the current status of S 3940?
This bill is in committee in the Senate. Introduced February 26, 2026. It must pass committee before a floor vote.
Where can I track S 3940?
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