S 2061
103th Congress
Senate
Commerce
Federally-guaranteed loans
Fees
Finance and Financial Sector
Securities
Small business
A bill to amend the Small Business Investment Act of 1958 to permit prepayment of debentures issued by State and local development companies.
Introduced: May 3, 1994
See on congress.gov
Everywhere this bill has been
4 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
May 17, 1994
Committee on Small Business. Hearings held.
May 3, 1994
Read twice and referred to the Committee on Small Business.
May 3, 1994
Sponsor introductory remarks on measure. (CR S5068)
May 3, 1994
Introduced in Senate
Plain-English summary
Amends the Small Business Investment Act of 1958 to permit a qualified State or local development company that issues a debenture purchased by the Federal Financing Bank and guaranteed by the Small Business Administration, at the election of the small business borrower whose loan secures such debenture and with the Administrators approval, to prepay the debenture by payment to the Bank of the unpaid principal balance, accrued interest, and repurchase premium amount (as determined under this Act).
Prohibits any fees or penalties from being imposed against the issuer, borrower, or the Administration as a condition of prepayment under this Act.
Authorizes appropriations.
What's happening now
Committee on Small Business. Hearings held.
Committees of jurisdiction
1
Cosponsors
1