To amend the Emergency Steel Loan Guarantee Act of 1999 to provide for increased loan guarantees for steel companies under that Act, and for other purposes.

Summary

Amends the Emergency Steel Loan Guarantee Act of 1999 to permit the use of guaranteed loan proceeds to repay outstanding debts of a qualified steel company. Sets a maximum principal loan guarantee of 95 percent if the Loan Guarantee Board determines that the aggregate amount of imported steel during the prior year exceeds 30 percent of the aggregate amount of domestic steel produced during that year. Permits conversion of such loan guarantee to a grant to a steel company for loan repayment purposes if the company is unable to repay the loan because of financial hardship beyond its control, has demonstrated a good faith effort to be cost efficient, and such grant is in the U.S. national security interest. Insulates the Board's loan guarantee authority for steel companies from the authority of any other Federal department or agency, including the Office of Management and Budget.

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

Timeline

1. 7 February 2001

   Introduced

   Referred to the House Committee on Financial Services.

   Source: IntroReferral

2. 7 February 2001

   Introduced

   Introduced in House

   Source: IntroReferral

3. 7 February 2001

   Introduced

   Introduced in House

   Source: IntroReferral

4. 2 March 2001

   Referred

   Referred to the Subcommittee on Domestic Monetary Policy, Technology and Economic Growth.

   Source: Committee

Votes

No vote records are attached yet.

Versions

• Introduced in House · 7 February 2001 · Official file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 7 February 2001

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 7 February 2001

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 7 February 2001

  Open at official source

Sponsors

• Rep. Traficant, James A., Jr. [D-OH-17] · D · Sponsor
• · hsba00 · Standing

Related records

No cross-record relationships stored yet.