To amend the Small Business Investment Act of 1958 to modify the criteria for loans for plant acquisition, construction, conversion or expansion, and for other purposes.
Main Street Parity Act
This bill lessens the financing requirements for certain Small Business Administration loans to small businesses for plant acquisition, construction, conversion, or expansion, including the acquisition of land. Specifically, the bill reduces the amount of equity a borrower must provide by 5% of the total cost for loans for limited or single-purpose properties.
Introduced in House
Introduced in House
Referred to the House Committee on Small Business.
Committee Consideration and Mark-up Session Held
Ordered to be Reported by the Yeas and Nays: 27 - 0.
Reported by the Committee on Small Business. H. Rept. 119-406.
Reported by the Committee on Small Business. H. Rept. 119-406.
Placed on the Union Calendar, Calendar No. 354.
Mr. Williams (TX) moved to suspend the rules and pass the bill.
Considered under suspension of the rules. (consideration: CR H930-931)
DEBATE - The House proceeded with forty minutes of debate on H.R. 5763.
At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.
Considered as unfinished business. (consideration: CR H939-940)
Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by the Yeas and Nays: (2/3 required): 383 - 8 (Roll no. 32). (text: CR H930)
Roll Call #32 (House)On motion to suspend the rules and pass the bill Agreed to by the Yeas and Nays: (2/3 required): 383 - 8 (Roll no. 32). (text: CR H930)
Roll Call #32 (House)Motion to reconsider laid on the table Agreed to without objection.
Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.
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