H.R. 6055 · 111th Congress
Accounts Receivable Insurance Program 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.
Accounts Receivable Insurance Program Act - Establishes within the Treasury a government-backed private accounts receivable insurance program to assist small manufacturers in the underwriting and guarantee of payment through the insurance of their accounts receivable.
What it does: CRS summary · Introduced in House · Jul 30, 2010
Accounts Receivable Insurance Program Act - Establishes within the Treasury a government-backed private accounts receivable insurance program to assist small manufacturers in the underwriting and guarantee of payment through the insurance of their accounts receivable. Directs the Secretary of the Treasury to insure (guarantee) accounts receivable underwritten by financial or insurance institutions for small manufacturing businesses and, if a small manufacturing business defaults, to pay such an institution any remaining balance of an obligation of a small manufacturing business that is covered under the insurance. Prohibits a financial or insurance institution from being eligible for a guarantee under the program if the institution insured the accounts receivable of a small manufacturing business for less than 80% of their value.
Provides program funding. Prohibits the Secretary from entering into guarantees with institutions under the program after December 31, 2011, or one year after the enactment of this Act, whichever is later.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Accounts Receivable Insurance Program Act
Latest action (Jul 30, 2010): Referred to the House Committee on Financial Services.
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.