H.R. 7539 · 118th Congress
LOANS for Biomedical Research Act
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Never voted on. It didn't reach a floor vote before the 118th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
FitzpatrickSponsor8 cosponsors · 6 D, 2 R
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Long-term Opportunities for Advancing New Studies for Biomedical Research Act or the LOANS for Biomedical Research Act
What it does: CRS summary · Introduced in House · Mar 5, 2024
Long-term Opportunities for Advancing New Studies for Biomedical Research Act or the LOANS for Biomedical Research Act
This bill requires the Department of the Treasury to establish the BioBonds Program to support loans for clinical trials for eligible drugs and medical devices for unmet medical needs.
Under the program, fiscal agents purchase loans (up to $25 million per recipient) and issue collateralized bonds that are sold to investors and that are guaranteed by Treasury. An eligible borrower under this program is one conducting (or seeking to conduct) research related to a drug or device that is (1) intended to meet an unmet medical need; and (2) under investigation in certain types of controlled clinical trials, including a trial to investigate the safety and effectiveness of the drug or device.
The Government Accountability Office (GAO) and Treasury must report on the program; GAO must also study whether similar programs should be established for other biomedical research projects.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: LOANS for Biomedical Research Act
Also known as: Long-term Opportunities for Advancing New Studies for Biomedical Research Act
Latest action (Mar 8, 2024): Referred to the Subcommittee on Health.
Policy area: Health · Origin: House · Introduced: Mar 5, 2024
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.