A bill to amend the Small Business Investment Act of 1958 to permit prepayment of debentures issued by State and local development companies.

Summary

Amends the Small Business Investment Act of 1958 to permit a qualified State or local development company that issues a debenture purchased by the Federal Financing Bank and guaranteed by the Small Business Administration, at the election of the small business borrower whose loan secures such debenture and with the Administrators approval, to prepay the debenture by payment to the Bank of the unpaid principal balance, accrued interest, and repurchase premium amount (as determined under this Act). Prohibits any fees or penalties from being imposed against the issuer, borrower, or the Administration as a condition of prepayment under this Act. Authorizes appropriations.

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

Timeline

1. 3 May 1994

   Introduced

   Read twice and referred to the Committee on Small Business.

   Source: IntroReferral

2. 3 May 1994

   Introduced

   Sponsor introductory remarks on measure. (CR S5068)

   Source: IntroReferral

3. 3 May 1994

   Introduced

   Introduced in Senate

   Source: IntroReferral

4. 17 May 1994

   Committee

   Committee on Small Business. Hearings held.

   Source: Committee

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 3 May 1994 · Official file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 3 May 1994

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 3 May 1994

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 3 May 1994

  Open at official source

Sponsors

• Sen. Bumpers, Dale [D-AR] · D · Sponsor
• Sen. Hatfield, Mark O. [R-OR] · R · Sponsor
• Sen. Gorton, Slade [R-WA] · R · Cosponsor
• Patty Murray · D · Cosponsor
• Sen. Exon, J. James [D-NE] · D · Cosponsor
• · sssb00 · Standing

Related records

• related to → To amend the Small Business Investment Act of 1958 to permit prepayment of debentures issued by State and local development companies.