HR 7388 · 116th Congress 2019–2021, ended

RLF Act

Introduced Jun 26, 2020 Originated House Sponsor Collin C. Peterson D-MN

Fact sheet

Latest action · Jun 29, 2020 Referred to the Subcommittee on Economic Development, Public Buildings, and Emergency Management.

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. IntroducedJun 26, 2020
  2. Passed HouseNot reached
  3. Passed SenateNot reached
  4. To the PresidentNot reached
  5. Became lawNot reached

Summary

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—thereby relieving the grantee of associated federal reporting requirements—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.

Cosponsors 11

Members who signed on, in the order they did. Signatures ran from Jun 26, 2020 to Sep 22, 2020, with 1 there on the day it was introduced.

SeatCosponsorSigned on
R-NYJohn KatkoOriginalJun 26, 2020
R-MOVicky HartzlerJul 29, 2020
R-SDDusty JohnsonAug 11, 2020
R-VAH. Morgan GriffithAug 11, 2020
R-MNJim HagedornAug 11, 2020
D-MDDavid J. TroneAug 21, 2020
R-NEDon BaconAug 25, 2020
R-SCRalph NormanAug 25, 2020
R-NCTed BuddSep 14, 2020
R-VABen ClineSep 22, 2020
R-MSTrent KellySep 22, 2020

Actions 3

Everything that happened, newest first.

  1. Jun 29, 2020Referred to the Subcommittee on Economic Development, Public Buildings, and Emergency Management.
  2. Jun 26, 2020Introduced in House
  3. Jun 26, 2020Referred to the Committee on Transportation and Infrastructure, and in addition to the Committee on Financial Services, 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.

Related bills 1

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

BillTitleRelationshipLatest action
S 4075RLF ActIdentical billOct 30, 2020

Subjects

Assigned by the Library of Congress. Policy area: Transportation and Public Works.

Text 1

Each version as it was printed, newest first.

  1. Jun 26, 2020Introduced 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.