Skip to content
PoliticalRepoPoliticalRepo

United States · Bill · HR

H.R. 7289 (96th)

A bill to amend the Small Business Investment Act of 1958 to authorize the Small Business Administration to guarantee debentures issued by certain State or local development companies.

reportedUnited States· United States Congress· EN

Introduced

7 May 1980

Last action

16 May 1980 · Reported

Status

Reported to House from the Committee on Small Business, H. Rept. 96-1001.

Sponsors

Rep. LaFalce, John J. [D-NY-29], Rep. Smith, Neal Edward [D-IA-4], Rep. Steed, Tom [D-OK-4], Rep. Corman, James C. [D-CA-21], Rep. Addabbo, Joseph P. [D-NY-6], Rep. St Germain, Fernand J. [D-RI-1], Rep. Mitchell, Parren J. [D-MD-7], Rep. Bedell, Berkley W. [D-IA-6], Rep. Richmond, Frederick W. [D-NY-14], Rep. Baldus, Alvin J. [D-WI-3], Rep. Nolan, Richard M. [D-MN-8], Rep. Nowak, Henry [D-NY-33], Rep. Kildee, Dale E. [D-MI-5], Rep. Evans, Billy Lee [D-GA-8], Rep. Barnard, Doug, Jr. [D-GA-10], Rep. Leach, Claude (Buddy), Jr. [D-LA-4], Rep. Hall, Tony P. [D-OH-3], Rep. Spellman, Gladys Noon [D-MD-5], Rep. Conte, Silvio O. [R-MA-1], Rep. Bereuter, Doug [R-NE-1], Rep. Hanley, James M. [D-NY-32], Rep. Luken, Thomas A. [D-OH-1], Sen. Snowe, Olympia J. [R-ME], Sen. Quayle, Dan [R-IN], Rep. Tauke, Thomas Joseph [R-IA-2], Rep. Beard, Edward [D-RI-2]

Subjects

Discovery layer

Source updated

7 February 2024

Official sourceView documentsShare

Summary

Amends the Small Business Investment Act of 1958 to authorize the Small Business Administration (SBA) to guarantee the payment of all principal and interest as scheduled on any debenture issued by any qualified State or local development company. Prohibits such a guarantee to be made unless: (1) the debenture is issued to permit a small business to use the proceeds of the loan for plant acquisition, construction, expansion, or conversion purposes; (2) private loan sources are unavailable; (3) the interest rate on such debenture is not lower than Treasury rates; (4) the aggregate amount of such debenture does not exceed the amount of loans to be made from the proceeds of such debenture; (5) the amount of any loan does not exceed 50 percent of the cost of the project with respect to which such loan is made; and (6) each loan is approved by the SBA. Authorizes the SBA to impose an administrative charge for such guarantees. Defines the term "qualified State or local development company" to mean a development company which has a full-time professional staff, professional management ability, and an active board of directors or membership.

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

Timeline

  1. 7 May 1980

    Introduced

    Introduced in House

    Source: IntroReferral

  2. 7 May 1980

    Introduced

    Referred to House Committee on Small Business.

    Source: IntroReferral

  3. 7 May 1980

    Introduced

    Introduced in House

    Source: IntroReferral

  4. 16 May 1980

    Reported

    Reported to House from the Committee on Small Business, H. Rept. 96-1001.

    Source: Committee

  5. 16 May 1980

    Reported

    Reported to House from the Committee on Small Business, H. Rept. 96-1001.

    Source: Committee

Votes

No vote records are attached yet.

Versions

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

Documents

1 official file

Leesvertaling

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

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

Sponsors

Related records

No cross-record relationships stored yet.

Sources

PoliticalRepo is an index and interpretation layer, not the authoritative legal source.