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Public Law116th CongressCommerce
S. 4075Became Law

RLF Act

This bill became law

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Law

What it doesSummary public law (Oct 30, 2020)

Reinvigorating Lending for the Future Act or the RLF Act

This bill 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.

What just happenedOct 30, 2020

Became Public Law No: 116-192.

Who’s behind it

Sen. Capito, Shelley Moore [R-WV](R-WV)Sponsor
9 cosponsors6 D3 R
Read on Congress.gov
9cosponsors1committees21actions1related bills3subjects
  1. Oct 30, 2020President

    Became Public Law No: 116-192.

  2. Oct 30, 2020BecameLaw36000

    Became Public Law No: 116-192.

  3. Oct 30, 2020President

    Signed by President.

  4. Oct 30, 2020BecameLaw36000

    Signed by President.

  5. Oct 20, 2020Floor

    Presented to President.

  6. Oct 20, 2020President28000

    Presented to President.

  7. Oct 1, 2020FloorH38310

    Motion to reconsider laid on the table Agreed to without objection.

  8. Oct 1, 2020FloorH37300

    On motion to suspend the rules and pass the bill Agreed to by voice vote. (text: CR H5189-5190)

  9. Oct 1, 2020Floor8000

    Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by voice vote.

  10. Oct 1, 2020FloorH8D000

    DEBATE - The House proceeded with forty minutes of debate on S. 4075.

  11. Oct 1, 2020FloorH30000

    Considered under suspension of the rules. (consideration: CR H5189-5190)

  12. Oct 1, 2020FloorH30300

    Mr. Carbajal moved to suspend the rules and pass the bill.

  13. Aug 14, 2020FloorH15000

    Held at the desk.

  14. Aug 14, 2020FloorH14000

    Received in the House.

  15. Aug 11, 2020Floor

    Message on Senate action sent to the House.

  16. Aug 6, 2020Floor

    Passed Senate without amendment by Unanimous Consent. (text: CR S5346)

  17. Aug 6, 2020Floor17000

    Passed/agreed to in Senate: Passed Senate without amendment by Unanimous Consent.(text: CR S5346)

  18. Aug 6, 2020Discharge

    Senate Committee on Environment and Public Works discharged by Unanimous Consent. (consideration: CR S5346)

    Environment and Public Works Committee
  19. Aug 6, 2020Committee14500

    Senate Committee on Environment and Public Works discharged by Unanimous Consent.

    Environment and Public Works Committee
  20. Jun 25, 2020IntroReferral

    Read twice and referred to the Committee on Environment and Public Works.

    Environment and Public Works Committee
  21. Jun 25, 2020IntroReferral10000

    Introduced in Senate

Public LawOct 30, 202049

Reinvigorating Lending for the Future Act or the RLF Act

This bill 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.

Passed HouseOct 1, 202053

Reinvigorating Lending for the Future Act or the RLF Act

This bill 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.

Passed SenateAug 6, 202055

Reinvigorating Lending for the Future Act or the RLF Act

This bill 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.

Introduced in SenateJun 25, 2020

Reinvigorating Lending for the Future Act or the RLF Act

This bill 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 — Informed