Investing in America's Small Businesses Act of 2017
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in house (Mar 30, 2017)
Investing in America's Small Businesses Act of 2017
This bill amends the Community Development Banking and Financial Institutions Act of 1994 to require the Community Development Financial Institutions Fund to make grants to community development financial institutions for: (1) the establishment of loan-loss reserve funds to defray the costs of small business lending, and (2) related technical assistance.
A community development financial institution must provide nonfederal matching funds equal to 50% of the amount of any grant received.
A grantee may not use grant funds to make direct loans to small businesses.
What just happenedMar 30, 2017
Referred to the House Committee on Financial Services.
Who’s behind it
- Introduced in HouseMar 30, 2017
- Mar 30, 2017IntroReferralH11100
Referred to the House Committee on Financial Services.
Financial Services Committee - Mar 30, 2017IntroReferralB00100
Sponsor introductory remarks on measure. (CR E418)
- Mar 30, 2017IntroReferralIntro-H
Introduced in House
- Mar 30, 2017IntroReferral1000
Introduced in House