3.0.0 2807 2023-01-11T13:22:32Z 2023-01-11T13:22:32Z House H HR 2011-08-05 112 From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. RICHMOND:H.R. 2807.Congress has the power to enact this legislation pursuantto the following:This bill is introduced pursuant to the powers granted toCongress under the General Welfare Clause (Art. 1 Sec. 8 Cl.1), the Commerce Clause (Art. 1 Sec. 8 Cl. 3), and theNecessary and Proper Clause (Art. 1 Sec. 8 Cl. 18).Further, this statement of constitutional authority is madefor the sole purpose of compliance with clause 7 of Rule XIIof the Rules of the House of Representatives and shall haveno bearing on judicial review of the accompanying bill.[Page H5896]]]> hsba00 Financial Services Committee House Standing hsba15 Consumer Protection and Financial Institutions Subcommittee Referred to 2011-08-22T18:14:42Z Referred to 2011-08-05T14:02:40Z 2011-08-22 hsba15 Consumer Protection and Financial Institutions Subcommittee 1 House committee actions Referred to the Subcommittee on Financial Institutions and Consumer Credit. Committee 2011-08-05 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2011-08-05 Introduced in House IntroReferral Intro-H 9 Library of Congress 2011-08-05 Introduced in House IntroReferral 1000 9 Library of Congress R000588 Rep. Richmond, Cedric L. [D-LA-2] Cedric Richmond D LA L. 2 N C001067 Rep. Clarke, Yvette D. [D-NY-11] Yvette Clarke D NY D. 11 2011-08-05 True Finance and Financial Sector Bank accounts, deposits, capital Business investment and capital Credit and credit markets Government trust funds Housing and community development funding Small business Finance and Financial Sector 00 2011-08-05 Introduced in House 2011-10-13T13:38:51Z Small Business Lending to Entrepreneurs for Growth in Underserved Populations Act of 2011 or the Small Business Leg-Up Act of 2011 - Requires, upon the expiration of investment authority for the Small Business Lending Fund Program provided in the Small Business Jobs Act of 2010, that all unobligated funds in the Small Business Lending Fund be transferred to the Community Development Financial Institutions (CDFI) Fund. Directs that all funds received in connection with certain purchases of preferred stock and other financial instruments pursuant to such authority be transferred to the CDFI Fund.

Amends the Riegle Community Development and Regulatory Improvement Act of 1994 to direct the Administrator of the CDFI Fund to carry out a Small Business Capital Investment (SBCI) Program (a small business revolving loan program) to continue making capital investments in eligible community development financial institutions in order to increase the availability of credit for small businesses.

Requires that: (1) all funds the Administrator receives in connection with SBCI Program purchases be deposited in the CDFI Fund, and (2) the authority to make such capital investments continue so long as specified funding amounts are available.

Allows eligible community development financial institutions (with maximum assets of $10 billion as reported in audited financial statements) to apply to receive a capital investment of up to 10% of total assets, or another appropriate percentage determined by the Administrator.

Directs the Administrator, to the extent practicable and except as otherwise provided, to carry out the SBCI Program in the same manner as the Small Business Lending Fund Program.

]]> Small Business Lending to Entrepreneurs for Growth in Underserved Populations Act of 2011 Display Title Small Business Lending to Entrepreneurs for Growth in Underserved Populations Act of 2011 Official Title as Introduced To transfer unobligated and repaid funds from the Small Business Lending Fund Program to the Community Development Financial Institutions Fund to continue the program of making capital investments in eligible community development financial institutions in order to increase the availability of credit for small businesses, and for other purposes. Introduced in House IH Short Titles as Introduced Small Business Lending to Entrepreneurs for Growth in Underserved Populations Act of 2011 Short Titles as Introduced Small Business Leg-Up Act of 2011 Introduced in House 2011-08-05T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-112hr2807ih/xml/BILLS-112hr2807ih.xml 2011-08-22 Referred to the Subcommittee on Financial Institutions and Consumer Credit. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.