US HB5600 | 2013-2014 | 113th Congress
Status
Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on September 18 2014 - 25% progression, died in committee
Action: 2014-09-18 - Referred to the House Committee on Small Business.
Pending: House Small Business Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on September 18 2014 - 25% progression, died in committee
Action: 2014-09-18 - Referred to the House Committee on Small Business.
Pending: House Small Business Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Franchise Financing Improvement Act of 2014 - Amends the Small Business Act to direct the Administrator of the Small Business Administration (SBA) to make financial assistance available to franchisees under the Act or the Small Business Investment Act of 1958 if the franchisee is not affiliated with the franchisor. Declares that a franchisee shall not be considered affiliated with the franchisor if: the franchisor has filed a disclosure document pursuant to specified federal regulations; and the franchisee, upon default on a loan (whether guaranteed by the SBA or not), has no ability to obtain financial assistance from the franchisor to repay the loan. Declares further that a franchisor's authority to repurchase the franchise for noncompliance with its terms and conditions, or to have the right of first refusal to purchase it from the franchisee, shall not be considered financial assistance to repay loans issued to the franchisee.
Title
Franchise Financing Improvement Act of 2014
Sponsors
Rep. Sam Graves [R-MO] |
History
Date | Chamber | Action |
---|---|---|
2014-09-18 | House | Referred to the House Committee on Small Business. |
Subjects
Administrative law and regulatory procedures
Commerce
Corporate finance and management
Government lending and loan guarantees
Small business
Small Business Administration
Commerce
Corporate finance and management
Government lending and loan guarantees
Small business
Small Business Administration
US Congress State Sources
Type | Source |
---|---|
Summary | https://www.congress.gov/bill/113th-congress/house-bill/5600/all-info |
Text | https://www.congress.gov/113/bills/hr5600/BILLS-113hr5600ih.pdf |