RLF Act
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in house (Jun 26, 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 happenedJun 29, 2020
Referred to the Subcommittee on Economic Development, Public Buildings, and Emergency Management.
Who’s behind it
- Introduced in HouseJun 26, 2020
- Jun 29, 2020Committee
Referred to the Subcommittee on Economic Development, Public Buildings, and Emergency Management.
Economic Development, Public Buildings, and Emergency Management Subcommittee - Jun 26, 2020IntroReferralH11100
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.
Financial Services Committee - Jun 26, 2020IntroReferralH11100
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.
Transportation and Infrastructure Committee - Jun 26, 2020IntroReferralIntro-H
Introduced in House
- Jun 26, 2020IntroReferral1000
Introduced in House