US Congress Senate Bill 3551 (Prior Session Legislation)

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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]

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.

Small Business Access to Capital Act of 2020

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]

Date	Chamber	Action
2020-03-20	Senate	Read twice and referred to the Committee on Small Business and Entrepreneurship.

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