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United States · Bill · HR

H.R. 660 (103rd)

Small Business Credit Availability Act of 1993

openUnited States· United States Congress· EN

Introduced

27 January 1993

Last action

26 April 1993 · Introduced

Status

Sponsor introductory remarks on measure. (CR E1026)

Sponsors

Rep. LaFalce, John J. [D-NY-29], Rep. Smith, Neal Edward [D-IA-4], Rep. Mazzoli, Romano L. [D-KY-3], Rep. Mann, David [D-OH-1], Rep. Skelton, Ike [D-MO-4], Sen. Wyden, Ron [D-OR], Rep. Sisisky, Norman [D-VA-4], Rep. Conyers, John, Jr. [D-MI-13], Rep. Bilbray, James H. [D-NV-1], Rep. Mfume, Kweisi [D-MD-7], Rep. Flake, Floyd H. [D-NY-6], Rep. Sarpalius, Bill [D-TX-13], Rep. Poshard, Glenn [D-IL-22], Rep. Meehan, Martin T. [D-MA-5], Rep. Danner, Pat [D-MO-6], Rep. Strickland, Ted [D-OH-6], Rep. Tucker, Walter R., III [D-CA-37], Rep. Klink, Ron [D-PA-4], Rep. Roybal-Allard, Lucille [D-CA-40], Rep. Hilliard, Earl F. [D-AL-7], Rep. Lancaster, H. Martin [D-NC-3], Rep. Franks, Gary A. [R-CT-5], Del. de Lugo, Ron [D-VI-At Large], Rep. Hughes, William J. [D-NJ-2], Rep. Hinchey, Maurice D. [D-NY-22], Rep. Wilson, Charles [D-TX-2], Rep. Clayton, Eva M. [D-NC-1], Rep. Hastings, Alcee L. [D-FL-20], Rep. Jefferson, William J. [D-LA-2], Rep. Studds, Gerry E. [D-MA-10], Del. Faleomavaega, Eni F. H. [D-AS-At Large], Rep. Levy, David A. [R-NY-4], Rep. Slaughter, Louise McIntosh [D-NY-25], Rep. Olver, John W. [D-MA-1], Rep. Kaptur, Marcy [D-OH-9], Rep. Wynn, Albert Russell [D-MD-4], Rep. Torres, Esteban Edward [D-CA-34], Rep. Lloyd, Marilyn [D-TN-3], Rep. Goodling, William F. [R-PA-19], Rep. Pastor, Ed [D-AZ-4]

Subjects

Taxation

Source updated

26 August 2025

Taxation

Official sourceDownload fileView documentsShare

Summary

Small Business Credit Availability Act of 1993 - Establishes the Venture Enhancement and Loan Development Administration for Smaller Undercapitalized Enterprises (Velda Sue) as a Federal instrumentality to: (1) develop uniform underwriting, security appraisal, and repayment standards for qualified loans; (2) determine the eligibility of certified poolers to contract with Velda Sue for specific mortgage pool guarantees; and (3) provide timely repayment guarantees of the principal and interest on certain qualified obligations. Provides for a Board of Directors to manage Velda Sue. Authorizes Velda Sue to: (1) set conditions under which it will guarantee qualified obligations and securities; and (2) issue securities based on certain pooled interests in qualified obligations. Directs Velda Sue to issue certification and eligibility standards for secondary marketing for loan poolers. Directs Velda Sue to establish fees based upon the risk incurred in providing financial assistance or guarantees for: (1) qualified loans; and (2) securities issued by a qualified loan pooler. Declares that for purposes of the Securities Act of 1933, neither securities nor guarantees issued by Velda Sue shall be deemed to be a security issued by an agent of the Federal Government or a "government security." Authorizes appropriations to the Secretary of the Treasury without fiscal year limitation. Provides Federal funding to the Corporation through purchases by the Secretary of Corporation obligations of up to $300 million. Authorizes appropriations to the Secretary for such purchases.

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

Timeline

  1. 27 January 1993

    Introduced

    Referred to the House Committee on Small Business.

    Source: IntroReferral

  2. 27 January 1993

    Introduced

    Sponsor introductory remarks on measure. (CR E200-201)

    Source: IntroReferral

  3. 27 January 1993

    Introduced

    Introduced in House

    Source: IntroReferral

  4. 27 January 1993

    Introduced

    Introduced in House

    Source: IntroReferral

  5. 4 February 1993

    Committee

    Committee Hearings Held.

    Source: Committee

  6. 26 April 1993

    Introduced

    Sponsor introductory remarks on measure. (CR E1026)

    Source: IntroReferral

Votes

No vote records are attached yet.

Versions

Documents

3 official files

Introduced in House (text)

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  • Introduced in House (text)

    Introduced in House · EN · 14 December 1993

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  • Introduced in House (PDF)

    Introduced in House · EN · 14 December 1993

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  • Introduced in House

    summary · EN · 27 January 1993

    Open at official source

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Sponsors

Related records

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Sources

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