US Congress House Bill 6099 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 7-0)
Status: Introduced on July 11 2012 - 25% progression, died in committee
Action: 2012-07-31 - Referred to the Subcommittee on Capital Markets and Government Sponsored Enterprises.
Pending: House Subcommittee on Capital Markets and Government Sponsored Enterprises Committee
Text: Latest bill text (Introduced) [PDF]

Supporting Entrepreneurial Economic Development Act of 2012 or the SEED Act of 2012 - Amends the Public Works and Economic Development Act of 1965 to prohibit a recipient of an economic adjustment grant from making, but permits a venture development organization to make, a grant, equity investment, or convertible loan to a private for-profit entity. Requires such an organization that assists a private for-profit entity with funds made available from an economic adjustment grant and that receives funds from such entity at any time as a result of such assistance to use such funds only to assist other private for-profit entities. Defines a "venture development organization" as a public entity or private, nonprofit entity that provides to an early-stage technology business, to promote the growth of that business: (1) financial investment or assistance acquiring financial investment, (2) expert mentoring, and (3) assistance to speed the commercialization of technology.

SEED Act of 2012

Rep. Russ Carnahan [D-MO]	Rep. Robert Brady [D-PA]	Rep. Raul Grijalva [D-AZ]	Rep. Maurice Hinchey [D-NY]
Rep. Michael Honda [D-CA]	Rep. Ron Kind [D-WI]	Rep. Jared Polis [D-CO]

Date	Chamber	Action
2012-07-31	House	Referred to the Subcommittee on Capital Markets and Government Sponsored Enterprises.
2012-07-12	House	Referred to the Subcommittee on Economic Development, Public Buildings and Emergency Management.
2012-07-11	House	Referred to House Financial Services
2012-07-11	House	Referred to House Transportation and Infrastructure
2012-07-11	House	Referred to the Committee on Transportation and Infrastructure, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

Type	Source
Summary	https://www.congress.gov/bill/112th-congress/house-bill/6099/all-info
Text	https://www.congress.gov/112/bills/hr6099/BILLS-112hr6099ih.pdf