H.R. 5445 · 111th Congress
Incentives for Successful Small Businesses Act of 2010
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Never voted on. It didn't reach a floor vote before the 111th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
PerlmutterSponsor1 cosponsor · 1 R
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Incentives for Successful Small Businesses Act of 2010 - Directs the Secretary of the Treasury to establish: (1) criteria for a long-term U.S. growth plan for any company or enterprise seeking incentives under this Act, as well as for U.S.
What it does: CRS summary · Introduced in House · May 27, 2010
Incentives for Successful Small Businesses Act of 2010 - Directs the Secretary of the Treasury to establish: (1) criteria for a long-term U.S. growth plan for any company or enterprise seeking incentives under this Act, as well as for U.S. expansion plans of successful small businesses that would qualify for such incentives; (2) procedures for loan guarantee and interest rate subsidy programs; and (3) a program to disseminate information rapidly about such programs and procedures.
Directs the Secretary to establish a five-year program to provide guarantees of up to 80% of the principal of any loan which banks and lenders make at the lowest collateralized rate available to any successful small business to facilitate its U.S. expansion plans.
Directs the Secretary to establish a five-year interest rate subsidy program to pay one percentage point of interest on any such loan to the extent the loan's annual percentage rate (APR) does not exceed the lowest collateralized rate available, minus the rate paid by the Secretary.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Incentives for Successful Small Businesses Act of 2010
Latest action (May 27, 2010): Referred to the House Committee on Financial Services.
Policy area: Commerce · Origin: House · Introduced: May 27, 2010
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.