US SB3551 | 2019-2020 | 116th Congress
Status
Spectrum: Partisan Bill (Democrat 6-0)
Status: Introduced on March 20 2020 - 25% progression, died in committee
Action: 2020-03-20 - Read twice and referred to the Committee on Small Business and Entrepreneurship.
Pending: Senate Small Business And Entrepreneurship Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on March 20 2020 - 25% progression, died in committee
Action: 2020-03-20 - Read twice and referred to the Committee on Small Business and Entrepreneurship.
Pending: Senate Small Business And Entrepreneurship Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Reauthorizes for an additional eight years the State Small Business Credit Initiative. The initative assists participating states in providing collateral financial support to, and other innovative credit access and guarantee initiatives for, small businesses and manufacturers. The bill prescribes allocations of federal funds to participating states, and it authorizes the Department of the Treasury to award up to $2 billion in two tranches (portions), according to specified criteria, for participating states to (1) make federal contributions to an approved state program, or (2) use as collateral for a qualifying loan or swap funding facility.
Title
Small Business Access to Capital Act of 2020
Sponsors
Sen. Gary Peters [D-MI] | Sen. Jeanne Shaheen [D-NH] | Sen. Debbie Stabenow [D-MI] | Sen. Margaret Hassan [D-NH] |
Sen. Jon Tester [D-MT] | Sen. Christopher Coons [D-DE] |
History
Date | Chamber | Action |
---|---|---|
2020-03-20 | Senate | Read twice and referred to the Committee on Small Business and Entrepreneurship. |
Subjects
Appropriations
Business investment and capital
Commerce
Credit and credit markets
Government lending and loan guarantees
Manufacturing
Small business
State and local finance
Business investment and capital
Commerce
Credit and credit markets
Government lending and loan guarantees
Manufacturing
Small business
State and local finance
US Congress State Sources
Type | Source |
---|---|
Summary | https://www.congress.gov/bill/116th-congress/senate-bill/3551/all-info |
Text | https://www.congress.gov/116/bills/s3551/BILLS-116s3551is.pdf |