Race to the Job Initiative Act
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HR 6017 — Race to the Job Initiative Act
Last action — Referred to the Subcommittee on Highways and Transit.
No card. One bill, free forever — alerts when it moves.
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✓Introduced
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✓In Committee
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Died in session
This bill died with 114th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.
Summary
Race to the Job Initiative Act This bill requires the Department of the Treasury to establish and administer a grant program to provide anchor institution (i.e., a hospital, college, research center, or nonprofit institution) grants and infrastructure grants to eligible low-income communities for community development. Treasury shall select: (1) within the first year after enactment of this bill, 30 of such low-income communities to receive these grants; and (2) within the second year, an additional 20 of these communities. Treasury must award a capital assistance grant to each community development financial institution specified in the grantee's application to make loans to, and invest in, businesses, organizations, or public-private partnerships located in the eligible low-income community. The bill amends the Internal Revenue Code to allow a new markets tax credit for investment in a partner community development financial institution without regard to allocation limitations on such credit. The bill amends the Community Development Banking and Financial Institutions Act of 1994 to limit to $20 million (in the aggregate, during a three-year period) an award from the Community Development Financial Institutions (CDFI) Fund to a community development financial institution and its subsidiaries and affiliates receiving a capital assistance grant under this bill. CDFI funds are limited annually for these entities to: (1) $10 million for financial assistance, and (2) $500,000 for technical assistance.
Bill Text
We don't have the full text on file for this bill yet.
Read HR 6017 on the official United States source →Action History
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Referred to the Subcommittee on Highways and Transit.
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Referred to House Ways and Means
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Referred to House Transportation and Infrastructure
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Referred to House Financial Services
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Referred to the Committee on Financial Services, and in addition to the Committees on Transportation and Infrastructure, and Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
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Introduced in House
Sponsors
- Cedric Richmond · Primary
Sponsorship breakdown
Export CSV (upgrade) →1 sponsors · 0 co-sponsors · 546 not signed on
Sponsors (1)
Co-sponsors (0)
None.
Not signed on (546)
546 members have not signed on to this bill.
Show all 546 →"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.
Subjects
Frequently asked questions
- What does HR 6017 do?
- Race to the Job Initiative Act This bill requires the Department of the Treasury to establish and administer a grant program to provide anchor institution (i.e., a hospital, college, research center, or nonprofit institution) grants and infrastructure grants to eligible low-income communities for community development. Treasury shall select: (1) within the first year after enactment of this bill, 30 of such low-income communities to receive these grants; and (2) within the second year, an additional 20 of these communities. Treasury must award a capital assistance grant to each community development financial institution specified in the grantee's application to make loans to, and invest in, businesses, organizations, or public-private partnerships located in the eligible low-income community. The bill amends the Internal Revenue Code to allow a new markets tax credit for investment in a partner community development financial institution without regard to allocation limitations on such credit. The bill amends the Community Development Banking and Financial Institutions Act of 1994 to limit to $20 million (in the aggregate, during a three-year period) an award from the Community Development Financial Institutions (CDFI) Fund to a community development financial institution and its subsidiaries and affiliates receiving a capital assistance grant under this bill. CDFI funds are limited annually for these entities to: (1) $10 million for financial assistance, and (2) $500,000 for technical assistance.
- Who sponsors HR 6017?
- HR 6017 is sponsored by Cedric Richmond (D).
- What is the current status of HR 6017?
- This bill died with 114th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
- Where can I track HR 6017?
- Track HR 6017 free on One Click Politics — get push/email alerts when it moves.
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