US Congress House Bill 471 (Prior Session Legislation)

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Sponsorship: Partisan Bill (Democrat 5)
Status: Introduced on January 12 2017 - 25% progression, died in committee
Action: 2017-01-25 - Referred to the Subcommittee on Digital Commerce and Consumer Protection.
Pending: House Subcommittee on Digital Commerce and Consumer Protection Committee
Text: Latest bill text (Introduced) [PDF]

Small Business Administration Franchise Loan Transparency Act of 2017 This bill requires a franchisor, except one with a franchise in the lodging industry, to disclose in the required Federal Trade Commission disclosure document: the average first-year revenue for all franchise locations for each of the preceding five years of operation; the number of franchise locations that went out of business or were sold by the franchisee during the first year of operation for each such period; and the average revenues for all locations of the franchise for each such period, aggregated to show the top 25%, middle 50%, and the bottom 25% of revenue. Any financial information relating to the performance of any franchise's location provided by the franchisor, or its representatives, to the lender for the purpose of qualifying the loan, must be disclosed to the prospective franchisee borrower.

Small Business Administration Franchise Loan Transparency Act of 2017

Rep. Keith Ellison [D-MN]	Rep. Jared Huffman [D-CA]	Rep. John Conyers [D-MI]	Rep. Betty McCollum [D-MN]
Rep. John Larson [D-CT]

Date	Chamber	Action
2017-01-25	House	Referred to the Subcommittee on Digital Commerce and Consumer Protection.
2017-01-12	House	Referred to the House Committee on Energy and Commerce.
2017-01-12	House	Introduced in House

Type	Source
Summary	https://www.congress.gov/bill/115th-congress/house-bill/471/all-info
Text	https://www.congress.gov/115/bills/hr471/BILLS-115hr471ih.pdf