Small Business Budget Reconciliation and Loan Consolidation/Improvement Act of 1981

Summary

Amends the Small Business Act to make Small Business Administration (SBA) loans available to State and local development companies for plant acquisition, construction, conversion, or expansion (including land acquisition) and to any small business for purposes of such Act. Removes limitations on the primary use of such loans. Increases the maximum amount of such loans from $500,000 to $750,000. Authorizes the SBA to add up to one percent to the interest rate on loans (currently one-quarter of one percent is added). Increases the maximum maturity from ten to 30 years. Makes small business concerns owned and controlled by Indian tribes and any public or private organizations which employ handicapped individuals for 75 percent or more of the man-hours required for their business eligible for loans under such Act. Permits the SBA to advance financial assistance to State or local development companies to assist identifiable small business concerns. Eliminates loans to corporations formed and capitalized by small businesses for the purpose of obtaining raw materials, equipment, inventories, supplies, or research and development benefits. Repeals provisions authorizing trade adjustment loans, loans to small businesses in high unemployment and low income areas or owned by low-income individuals, and loans for solar energy and energy conservation measures. Repeals provisions relating to specified reports. Repeals the authorizations of appropriations for SBA programs, salaries, and expenses for fiscal years 1981 through 1984.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 2 April 1981

   Introduced

   Referred to House Committee on Small Business.

   Source: IntroReferral

2. 2 April 1981

   Introduced

   Introduced in House

   Source: IntroReferral

3. 2 April 1981

   Introduced

   Introduced in House

   Source: IntroReferral

4. 6 April 1981

   Referred

   Referred to Subcommittee on SBA & SBIC Authority, Minority Enterprise, and General Small Business Problems.

   Source: Committee

5. 19 May 1981

   Committee

   Forwarded by Subcommittee to Full Committee (Amended).

   Source: Committee

6. 19 May 1981

   Committee

   Subcommittee Consideration and Mark-up Session Held.

   Source: Committee

7. 2 June 1981

   Reported

   Ordered to be Reported (Amended).

   Source: Committee

8. 2 June 1981

   Committee

   Committee Consideration and Mark-up Session Held.

   Source: Committee

9. 16 June 1981

   Calendars

   Placed on Union Calendar No: 104.

   Source: Calendars

10. 16 June 1981

    Reported

    Reported to House (Amended) by House Committee on Small Business. Report No: 97-150.

    Source: Committee

11. 16 June 1981

    Reported

    Reported to House (Amended) by House Committee on Small Business. Report No: 97-150.

    Source: Committee

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

2 official files

• Reported to House with amendment(s)

  summary · EN · 16 June 1981

  Open at official source

• Introduced in House

  summary · EN · 2 April 1981

  Open at official source

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Sponsors

• Rep. Mitchell, Parren J. [D-MD-7] · D · Sponsor
• Rep. McDade, Joseph M. [R-PA-10] · R · Sponsor
• · hssm00 · Standing

Related records

• related to ← A bill to amend the Small Business Act.