A bill to amend the Public Works and Economic Development Act of 1965 to provide for the release of certain Federal interests in connection with certain grants under that Act, and for other purposes.
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.
Referred to the Subcommittee on Economic Development, Public Buildings, and Emergency Management.
Read twice and referred to the Committee on Environment and Public Works.
Senate Committee on Environment and Public Works discharged by Unanimous Consent.
Senate Committee on Environment and Public Works discharged by Unanimous Consent. (consideration: CR S5346)
Passed/agreed to in Senate: Passed Senate without amendment by Unanimous Consent.(text: CR S5346)
Passed Senate without amendment by Unanimous Consent. (text: CR S5346)
Message on Senate action sent to the House.
Received in the House.
Held at the desk.
Mr. Carbajal moved to suspend the rules and pass the bill.
Considered under suspension of the rules. (consideration: CR H5189-5190)
DEBATE - The House proceeded with forty minutes of debate on S. 4075.
Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by voice vote.
Enacted as Public Law 116-192
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On motion to suspend the rules and pass the bill Agreed to by voice vote. (text: CR H5189-5190)
Motion to reconsider laid on the table Agreed to without objection.
Presented to President.
Presented to President.
Signed by President.
Signed by President.
Became Public Law No: 116-192.
Became Public Law No: 116-192.