H.R. 5144 · 114th Congress
Jumpstart HOUSE Act of 2016
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Never voted on. It didn't reach a floor vote before the 114th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
BeattySponsorNo cosponsors.
Jumpstart Housing Opportunities Utilizing Small Enterprises Act of 2016 or the Jumpstart HOUSE Act of 2016 This bill amends the State Small Business Credit Initiative Act of 2010 to extend for an additional eight fiscal years the State Small Business Credit Initiative to assist participating states to give collateral support and other innovative credit…
What it does: CRS summary · Introduced in House · Apr 29, 2016
Jumpstart Housing Opportunities Utilizing Small Enterprises Act of 2016 or the Jumpstart HOUSE Act of 2016
This bill amends the State Small Business Credit Initiative Act of 2010 to extend for an additional eight fiscal years the State Small Business Credit Initiative to assist participating states to give collateral support and other innovative credit access and guarantee initiatives for small businesses and manufacturers.
The bill also prescribes allocations of federal funds to participating states.
The Department of the Treasury may award, on a competitive basis, up to a total of $1 billion in two tranches, according to specified criteria, to participating states and consortiums of participating states for use: (1) for making federal contributions to, or for the account of, an approved state program; or (2) as collateral for a qualifying loan or swap funding facility.
Small businesses receiving funds from a participating state may use them to:- develop, acquire, construct, rehabilitate, maintain, operate, or manage projects for affordable housing for low- or moderate-income households;
- cover any contribution, matching amount, or non-federal share required in connection with any other federal grant or assistance program to provide such housing; or
- purchase foreclosed properties and property being sold by a state or local government, but only for the use of such properties for such housing.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Jumpstart HOUSE Act of 2016
Also known as: Jumpstart Housing Opportunities Utilizing Small Enterprises Act of 2016
Latest action (Apr 29, 2016): Referred to the House Committee on Financial Services.
Policy area: Commerce · Origin: House · Introduced: Apr 29, 2016
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.