summary
Introduced
07/01/2020
07/01/2020
In Committee
07/02/2020
07/02/2020
Crossed Over
Passed
Dead
12/31/2020
12/31/2020
Introduced Session
116th Congress
Bill Summary
A BILL To amend the Public Works and Economic Development Act of 1965 to allow a grantee of revolving loan funds to transfer certain funds to other eligible projects. 1
AI Summary
This bill, the Revolving Loan Fund Flexibility Act of 2020, would amend the Public Works and Economic Development Act of 1965 to allow grantees of revolving loan funds to transfer any repaid funds to other eligible projects. To be eligible, the grantee must have more cash available for lending than the average in their Economic Development Administration (EDA) region. The Secretary would retain discretion to approve or deny such transfer requests. The term "cash available for lending" is defined as the revolving loan fund cash available net of the committed revolving loan fund cash.
Committee Categories
Business and Industry, Transportation and Infrastructure
Sponsors (1)
Last Action
Referred to the Subcommittee on Economic Development, Public Buildings, and Emergency Management. (on 07/02/2020)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/116th-congress/house-bill/7467/all-info |
| BillText | https://www.congress.gov/116/bills/hr7467/BILLS-116hr7467ih.pdf |
| Bill | https://www.congress.gov/116/bills/hr7467/BILLS-116hr7467ih.pdf.pdf |
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