Legis Daily

RLF Act

USA116th CongressHR-7388| House 
| Updated: 6/29/2020
Collin C. Peterson

Collin C. Peterson

Democratic Representative

Minnesota

Cosponsors (11)
Dusty Johnson (Republican)John Katko (Republican)Trent Kelly (Republican)Jim Hagedorn (Republican)David J. Trone (Democratic)H. Morgan Griffith (Republican)Don Bacon (Republican)Vicky Hartzler (Republican)Ben Cline (Republican)Ralph Norman (Republican)Ted Budd (Republican)

Transportation and Infrastructure Committee, Financial Services Committee, Economic Development, Public Buildings, and Emergency Management Subcommittee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
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.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
Jun 26, 2020
Introduced in House
Jun 26, 2020
Referred 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.
Jun 29, 2020
Referred to the Subcommittee on Economic Development, Public Buildings, and Emergency Management.
Oct 30, 2020

Latest Companion Bill Action

S 116-4075
Signed by President.
  • June 26, 2020
    Introduced in House


  • June 26, 2020
    Referred 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.


  • June 29, 2020
    Referred to the Subcommittee on Economic Development, Public Buildings, and Emergency Management.


  • October 30, 2020

    Latest Companion Bill Action

    S 116-4075
    Signed by President.

Transportation and Public Works

Related Bills

  • S 116-4075: RLF Act
Economic developmentInterest, dividends, interest rates

RLF Act

USA116th CongressHR-7388| House 
| Updated: 6/29/2020
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.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
Jun 26, 2020
Introduced in House
Jun 26, 2020
Referred 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.
Jun 29, 2020
Referred to the Subcommittee on Economic Development, Public Buildings, and Emergency Management.
Oct 30, 2020

Latest Companion Bill Action

S 116-4075
Signed by President.
  • June 26, 2020
    Introduced in House


  • June 26, 2020
    Referred 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.


  • June 29, 2020
    Referred to the Subcommittee on Economic Development, Public Buildings, and Emergency Management.


  • October 30, 2020

    Latest Companion Bill Action

    S 116-4075
    Signed by President.
Collin C. Peterson

Collin C. Peterson

Democratic Representative

Minnesota

Cosponsors (11)
Dusty Johnson (Republican)John Katko (Republican)Trent Kelly (Republican)Jim Hagedorn (Republican)David J. Trone (Democratic)H. Morgan Griffith (Republican)Don Bacon (Republican)Vicky Hartzler (Republican)Ben Cline (Republican)Ralph Norman (Republican)Ted Budd (Republican)

Transportation and Infrastructure Committee, Financial Services Committee, Economic Development, Public Buildings, and Emergency Management Subcommittee

Transportation and Public Works

Related Bills

  • S 116-4075: RLF Act
  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Economic developmentInterest, dividends, interest rates