US Congress House Bill 7388 (Prior Session Legislation)

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Spectrum: Moderate Partisan Bill (Republican 10-2)
Status: Introduced on June 26 2020 - 25% progression, died in committee
Action: 2020-06-29 - Referred to the Subcommittee on Economic Development, Public Buildings, and Emergency Management.
Pending: House Subcommittee on Economic Development, Public Buildings, and Emergency Management Committee
Text: Latest bill text (Introduced) [PDF]

Reduces reporting requirements for recipients of Revolving Loan Fund grants, which provide funds to capitalize lending programs for businesses that cannot obtain traditional bank financing. Specifically, upon request by a qualifying grantee, the Economic Development Administration (EDA) must release any federal interest in a grant—thereby relieving the grantee of associated federal reporting requirements—if the request is made at least seven years after the final disbursement of the original grant. Currently, the EDA may release the federal interest in a grant beginning 20 years after the grant was awarded.

RLF Act Reinvigorating Lending for the Future Act

Rep. Collin Peterson [D-MN]	Rep. John Katko [R-NY]	Rep. Vicky Hartzler [R-MO]	Rep. James Hagedorn [R-MN]
Rep. Morgan Griffith [R-VA]	Rep. Dusty Johnson [R-SD]	Rep. David Trone [D-MD]	Rep. Ralph Norman [R-SC]
Rep. Don Bacon [R-NE]	Sen. Ted Budd [R-NC]	Rep. Trent Kelly [R-MS]	Rep. Ben Cline [R-VA]

Date	Chamber	Action
2020-06-29	House	Referred to the Subcommittee on Economic Development, Public Buildings, and Emergency Management.
2020-06-26	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.
2020-06-26	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.
2020-06-26	House	Introduced in House

SB4075 (Same As) 2020-10-30 - Became Public Law No: 116-192. (TXT | PDF)

Type	Source
Summary	https://www.congress.gov/bill/116th-congress/house-bill/7388/all-info
Text	https://www.congress.gov/116/bills/hr7388/BILLS-116hr7388ih.pdf