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HR 2936 111th Congress House Finance and Financial Sector Congressional oversight Corporate finance and management Financial crises and stabilization Government lending and loan guarantees Interest, dividends, interest rates Manufacturing Small business

BUILD Manufacturing Act

Introduced: June 18, 2009 See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jun 18, 2009
Referred to the House Committee on Financial Services.
Jun 18, 2009
Introduced in House
 Plain-English summary Congressional Research Service

Bill to Underwrite Increased Lending to Domestic (BUILD) Manufacturing Act or BUILD Manufacturing Act - Expresses the sense of Congress that the President should use all available powers to encourage financial institutions that are in receipt of federal financial support to immediately increase lending to the domestic manufacturing sector.

Establishes within the Treasury the Manufacturing Loan Guarantee Program, headed by the Administrator of the Term Asset-Backed Securities Loan Facility (established by the Board of Governors of the Federal Reserve System), to guarantee loans made by depository institutions to U.S. manufacturing companies. Prohibits any such loan from equaling or exceeding 1.5 times the gross net worth of the company receiving the loan. Allows a company to have more than one guaranteed loan, within aggregate dollar limits.

Authorizes the Administrator to adjust Program loan guarantee percentages in order to maximize lending and to minimize default rates of participating manufacturers.

Expresses the sense of Congress that the Administrator should encourage participating depository institutions to focus on lending to small- and medium-sized manufacturers.

What's happening now June 18, 2009

Referred to the House Committee on Financial Services.

 Committees of jurisdiction 1
 Cosponsors 3
All 3 Democratic 3