Investing in America's Small Businesses Act of 2016

Summary

Investing in America's Small Businesses Act of 2016 This bill amends the Community Development Banking and Financial Institutions Act of 1994 to require the Community Development Financial Institutions Fund to make grants to community development financial institutions to enable such institutions to establish a loan-loss reserve fund to defray the costs of a small business loan program. The bill defines "small business loan program" as a program in which a community development financial institution offers loans to small businesses that: (1) are made in amounts up to $50,000, (2) have no prepayment penalty, and (3) meet any affordability requirements established by Administrator of the Fund. A community development financial institution must provide non-federal matching funds equal to 50% of the amount of any grant received. The bill prohibits the use of such grants to make direct loans to small businesses. A community development financial institution may use such a grant to: (1) help recapture a portion or all of a defaulted loan made under its small business loan program, and (2) designate and utilize a fiscal agent for services the agent normally provides. The Fund shall make technical assistance grants to community development financial institutions to create, support, or maintain such a program.

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Timeline

1. 28 April 2016

   Introduced

   Referred to the House Committee on Financial Services.

   Source: IntroReferral

2. 28 April 2016

   Introduced

   Sponsor introductory remarks on measure. (CR E619-620)

   Source: IntroReferral

3. 28 April 2016

   Introduced

   Introduced in House

   Source: IntroReferral

4. 28 April 2016

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 28 April 2016 · Download file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 28 April 2016

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 28 April 2016

  ViewDownloadOpen at official source

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• Introduced in House

  summary · EN · 28 April 2016

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Rep. Maloney, Carolyn B. [D-NY-12] · D · Sponsor
• Rep. Velázquez, Nydia M. [D-NY-7] · D · Sponsor
• Rep. Hahn, Janice [D-CA-44] · D · Sponsor
• Rep. Vargas, Juan [D-CA-52] · D · Sponsor
• Rep. Rangel, Charles B. [D-NY-15] · D · Sponsor
• Rep. Moore, Gwen [D-WI-4] · D · Sponsor
• Rep. Johnson, Henry C. "Hank" [D-GA-4] · D · Sponsor
• Rep. Clarke, Yvette D. [D-NY-9] · D · Sponsor
• Rep. Hinojosa, Ruben [D-TX-15] · D · Sponsor
• Del. Norton, Eleanor Holmes [D-DC-At Large] · D · Sponsor
• Rep. Honda, Michael M. [D-CA-15] · D · Sponsor
• Rep. Richmond, Cedric L. [D-LA-2] · D · Sponsor
• Rep. Clay, Wm. Lacy [D-MO-1] · D · Cosponsor
• Rep. Ellison, Keith [D-MN-5] · D · Cosponsor
• Rep. Butterfield, G. K. [D-NC-1] · D · Cosponsor
• Rep. Levin, Sander M. [D-MI-12] · D · Cosponsor
• Rep. Serrano, Jose E. [D-NY-15] · D · Cosponsor
• · hsba00 · Standing

Related records

• related to → Investing in America's Small Businesses Act of 2017