HR 3559 · 114th Congress 2015–2017, ended

Small Business Administration Franchise Loan Transparency Act of 2015

Introduced Sep 18, 2015 Originated House Sponsor Keith Ellison D-MN

Fact sheet

Latest action · Sep 25, 2015 Referred to the Subcommittee on Commerce, Manufacturing, and Trade.

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.

  1. IntroducedSep 18, 2015
  2. Passed HouseNot reached
  3. Passed SenateNot reached
  4. To the PresidentNot reached
  5. Became lawNot reached

Summary

Small Business Administration Franchise Loan Transparency Act of 2015

This bill requires a franchisor, except one with a franchise in the lodging industry, to disclose in the required Federal Trade Commission disclosure document:

  • the average first-year revenue for all franchise locations for each of the preceding five years of operation;
  • the number of franchise locations that went out of business or were sold by the franchisee during the first year of operation for each such period; and
  • the average revenues for all locations of the franchise for each such period, aggregated to show the top 25%, middle 50%, and the bottom 25% of revenue.

Any financial information relating to the performance of any franchise's location provided by the franchisor, or its representatives, to the lender for the purpose of qualifying the loan, must be disclosed to the prospective franchisee borrower.

Cosponsors 10

Members who signed on, in the order they did. Signatures ran from Sep 18, 2015 to Dec 1, 2016, with 2 there on the day it was introduced.

SeatCosponsorSigned on
D-CAJared HuffmanOriginalSep 18, 2015
D-MIJohn Conyers, Jr.OriginalSep 18, 2015
D-CTJohn B. LarsonSep 29, 2015
D-VAGerald E. ConnollyOct 8, 2015
D-MNBetty McCollumOct 26, 2015
D-FLLois FrankelFeb 29, 2016
D-DCEleanor Holmes NortonMar 10, 2016
D-AZRaúl M. GrijalvaMar 14, 2016
D-VARobert C. "Bobby" ScottMar 23, 2016
D-NJDonald M. Payne, Jr.Dec 1, 2016

Actions 3

Everything that happened, newest first.

  1. Sep 25, 2015Referred to the Subcommittee on Commerce, Manufacturing, and Trade.
  2. Sep 18, 2015Introduced in House
  3. Sep 18, 2015Referred to the House Committee on Energy and Commerce.

Related bills 1

Companion bills and other measures the record links to this one.

BillTitleRelationshipLatest action
HR 3195Small Business Administration Franchise Loan Transparency Act of 2015Identical billJul 24, 2015

Subjects

Assigned by the Library of Congress. Policy area: Commerce.

Text 1

Each version as it was printed, newest first.

  1. Sep 18, 2015Introduced in House

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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.