To amend the Small Business Act and the Communications Act of 1934 to increase participation by small businesses in spectrum auctions conducted by the Federal Communications Commission.
Latest action · Apr 22, 2005 Referred to the Subcommittee on Telecommunications and the Internet, for a period to be subsequently determined by the Chairman.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedApr 14, 2005
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Amends the Small Business Act to establish within the Small Business Administration (SBA) an Associate Administrator for Telecommunications Finance (Associate Administrator) to supervise and manage SBA financing in the area of telecommunications. Authorizes the Associate Administrator to approve SBA loan guarantees with respect to Federal Communications Commission (FCC) spectrum licenses (for radio and television broadcasting) acquired in the secondary market. Establishes a Telecommunications Finance Office.
Establishes the Telecommunications Spectrum Installment Loan Program to: (1) make direct loans to qualified telecommunications borrowers (borrowers) for the acquisition of spectrum licenses through FCC auction; and (2) guarantee loans to borrowers for telecommunications equipment and working capital in connection with spectrum license acquisitions.
Establishes the Telecommunications Accelerated Certified Lender Program for the guarantee by certified lenders of loans made to borrowers for: (1) the acquisition of spectrum licenses through either FCC auction or the secondary market; and (2) telecommunications equipment and working capital in connection with spectrum license acquisitions. Requires certified lenders to be insured depository institutions approved by the SBA.
Amends the Communications Act of 1934 to: (1) establish the Telecommunications Loan Guarantee Fund for financing loans authorized under this Act; and (2) require the FCC, with respect to FCC spectrum auctions, to accept from a borrower a letter of credit in lieu of any upfront payment or other earnest money required by FCC regulation.
Cosponsors
Members who signed on, in the order they did.
Actions 4
Everything that happened, newest first.
- Apr 22, 2005Referred to the Subcommittee on Telecommunications and the Internet, for a period to be subsequently determined by the Chairman.
- Apr 15, 2005Sponsor introductory remarks on measure. (CR E662-663)
- Apr 14, 2005Introduced in House
- Apr 14, 2005Referred to the Committee on Small Business, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Subjects
Assigned by the Library of Congress. Policy area: Science, Technology, Communications.
- Auctions
- Capital investments
- Commerce
- Congress
- Congressional reporting requirements
- Data banks
- Economics and Public Finance
- Equipment and supplies
- Executive reorganization
- Federal officials
- Federally-guaranteed loans
- Finance and Financial Sector
- Government lending
- Government Operations and Politics
- Government paperwork
- Government statistics
- Government trust funds
- Interest rates
- Law
- Licenses
- Liens
- Loan defaults
- Minorities
- Minority business enterprises
- Radio spectrum allocation
- Science, Technology, Communications
- Small business
- Small Business Administration
- Telecommunication industry
- Television frequency allocation
Text 1
Each version as it was printed, newest first.
- Apr 14, 2005Introduced in House
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov.