H.R. 6219 · 111th Congress
Small Business Jobs Amendments 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
FrankSponsorNo cosponsors.
Small Business Jobs Amendments Act of 2010 - Amends the Small Business Jobs Act of 2010 with respect to the Small Business Lending Fund Program (Program) to: (1) remove the requirement that a community development loan fund (CDLF) be a tax-exempt entity; (2) include as an eligible institution under the Program any small business lending company that has…
What it does: CRS summary · Introduced in House · Sep 28, 2010
Small Business Jobs Amendments Act of 2010 - Amends the Small Business Jobs Act of 2010 with respect to the Small Business Lending Fund Program (Program) to: (1) remove the requirement that a community development loan fund (CDLF) be a tax-exempt entity; (2) include as an eligible institution under the Program any small business lending company that has total assets equal to or less than $10 billion; and (3) include as authorized small business lending nonowner-occupied commercial real estate loans. Directs the Secretary of the Treasury to develop eligibility criteria to determine the financial ability of a CDLF to participate in the Program.
Allows CDLFs to apply to receive from the Small Business Lending Fund up to 10% (current law allows up to 5%) of the total assets of the CDLF for investment in small businesses.
Provides: (1) dividend and interest incentives for participating loan institutions based on increases in small business lending; and (2) an authorized alternative computation of small business lending by such institutions. Requires eligible institutions to: (1) provide Program outreach to Indian tribes; and (2) include on its Internet website a statement that the institution is seeking to make small business loans and may not discriminate on the basis of race, color, religion, national origin, sex, marital status, or age. Requires the Secretary, in exercising loan authorities, to consider increasing the availability of credit for small businesses operating on tribal trust lands or other Indian areas.
Authorizes an eligible institution to temporarily amortize, for up to a 10-year period, any loan loss or write-down in order to increase the availability of credit for small businesses.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Small Business Jobs Amendments Act of 2010
Latest action (Sep 28, 2010): Referred to the House Committee on Financial Services.
Policy area: Commerce · Origin: House · Introduced: Sep 28, 2010
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.