H.R. 5991 · 111th Congress
American Metalworking Manufacturers Support Act
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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
MurphySponsor1 cosponsor · 1 D
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
American Metalworking Manufacturers Support Act - Directs the Administrator of the Small Business Administration (SBA) to: (1) carry out a program to provide business stabilization loans to viable small metalworking businesses that have a qualifying SBA small business loan and are experiencing immediate financial hardship; and (2) establish a technical…
What it does: CRS summary · Introduced in House · Jul 30, 2010
American Metalworking Manufacturers Support Act - Directs the Administrator of the Small Business Administration (SBA) to: (1) carry out a program to provide business stabilization loans to viable small metalworking businesses that have a qualifying SBA small business loan and are experiencing immediate financial hardship; and (2) establish a technical assistance program to assist a bank or other financial institution to provide such loans to such businesses. Prohibits the Administrator from charging any loan fees.
Makes specified funds available to the Secretary of the Treasury for the loan program. Limits each loan to a maximum of $3 million and 18 months, without interest.
Amends the Internal Revenue Code to provide a small metalworking business tax credit of 30% of the amount paid or incurred for metal parts, components, or assemblies produced for the taxpayer under a contract between the taxpayer and a small metalworking business.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: American Metalworking Manufacturers Support Act
Latest action (Jul 30, 2010): Referred to House Ways and Means
Policy area: Commerce · Origin: House · Introduced: Jul 30, 2010
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.