RLF Act

Bill: 116-s-4075
Sponsor: Sen. Capito, Shelley Moore [R-WV]
Introduced: 2020-06-25 in the Senate
Policy area: Commerce
Subjects: Credit and credit markets
Economic development
Economic performance and conditions

Summary:
action_date: 2020-06-25
text: 

Reinvigorating Lending for the Future Act or the RLF Act

 
This bill reduces reporting requirements for recipients of Revolving Loan Fund grants, which provide funds to capitalize lending programs for businesses that cannot obtain traditional bank financing.
 
Specifically, upon request by a qualifying grantee, the Economic Development Administration (EDA) must release any federal interest in a grant&#8212;thereby relieving the grantee of associated federal reporting requirements&#8212;if the request is made at least seven years after the final disbursement of the original grant. Currently, the EDA may release the federal interest in a grant beginning 20 years after the grant was awarded. 

action_date: 2020-08-06
text: 

Reinvigorating Lending for the Future Act or the RLF Act

 
This bill reduces reporting requirements for recipients of Revolving Loan Fund grants, which provide funds to capitalize lending programs for businesses that cannot obtain traditional bank financing.
 
Specifically, upon request by a qualifying grantee, the Economic Development Administration (EDA) must release any federal interest in a grant&#8212;thereby relieving the grantee of associated federal reporting requirements&#8212;if the request is made at least seven years after the final disbursement of the original grant. Currently, the EDA may release the federal interest in a grant beginning 20 years after the grant was awarded. 

action_date: 2020-10-01
text: 

Reinvigorating Lending for the Future Act or the RLF Act

 
This bill reduces reporting requirements for recipients of Revolving Loan Fund grants, which provide funds to capitalize lending programs for businesses that cannot obtain traditional bank financing.
 
Specifically, upon request by a qualifying grantee, the Economic Development Administration (EDA) must release any federal interest in a grant&#8212;thereby relieving the grantee of associated federal reporting requirements&#8212;if the request is made at least seven years after the final disbursement of the original grant. Currently, the EDA may release the federal interest in a grant beginning 20 years after the grant was awarded. 

action_date: 2020-10-30
text: 

Reinvigorating Lending for the Future Act or the RLF Act

 
This bill reduces reporting requirements for recipients of Revolving Loan Fund grants, which provide funds to capitalize lending programs for businesses that cannot obtain traditional bank financing.
 
Specifically, upon request by a qualifying grantee, the Economic Development Administration (EDA) must release any federal interest in a grant&#8212;thereby relieving the grantee of associated federal reporting requirements&#8212;if the request is made at least seven years after the final disbursement of the original grant. Currently, the EDA may release the federal interest in a grant beginning 20 years after the grant was awarded. 


Legislative actions:
action_date: 2020-10-30
text: Became Public Law No: 116-192.
action_date: 2020-10-30
text: Became Public Law No: 116-192.
action_date: 2020-10-30
text: Signed by President.
action_date: 2020-10-30
text: Signed by President.
action_date: 2020-10-20
text: Presented to President.
action_date: 2020-10-20
text: Presented to President.
action_date: 2020-10-01
text: Motion to reconsider laid on the table Agreed to without objection.
action_date: 2020-10-01
text: On motion to suspend the rules and pass the bill Agreed to by voice vote. (text: CR H5189-5190)
action_date: 2020-10-01
text: Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by voice vote.
action_date: 2020-10-01
text: DEBATE - The House proceeded with forty minutes of debate on S. 4075.
action_date: 2020-10-01
text: Considered under suspension of the rules. (consideration: CR H5189-5190)
action_date: 2020-10-01
text: Mr. Carbajal moved to suspend the rules and pass the bill.
action_date: 2020-08-14
text: Held at the desk.
action_date: 2020-08-14
text: Received in the House.
action_date: 2020-08-11
text: Message on Senate action sent to the House.
action_date: 2020-08-06
text: Passed Senate without amendment by Unanimous Consent. (text: CR S5346)
action_date: 2020-08-06
text: Passed/agreed to in Senate: Passed Senate without amendment by Unanimous Consent.(text: CR S5346)
action_date: 2020-08-06
text: Senate Committee on Environment and Public Works discharged by Unanimous Consent. (consideration: CR S5346)
action_date: 2020-08-06
text: Senate Committee on Environment and Public Works discharged by Unanimous Consent.
action_date: 2020-06-25
text: Read twice and referred to the Committee on Environment and Public Works.
action_date: 2020-06-25
text: Introduced in Senate

Enacted as: number: 116-192