3.0.0 1669 2023-03-08T19:58:39Z 2023-03-08T19:58:39Z House HR 2021-03-09 117 [Congressional Record Volume 167, Number 44 (Tuesday, March 9, 2021)][House]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. GREEN of Texas:H.R. 1669.Congress has the power to enact this legislation pursuantto the following:Taxing and Spending Clause: Article 1, Section 8, clause1--provides Congress authority to, inter alia, enact spendinglegislation.Commerce Clause: Article 1, Section 8, clause 3--providesCongress with the power to regulate commerce with foreignnations and among the states, including the use of thechannels of interstate commerce, the instrumentalities ofinterstate commerce, or persons or things in interstatecommerce.Necessary and Proper Clause: Article 1, Section 8, clause18--allows Congress the power to make all laws that arenecessary and proper for executing its enumerated powers andall other powers vested by the Constitution in the U.S.Government.[Page H1189]]]> hsba00 Financial Services Committee House Standing Referred to 2021-03-09T15:03:35Z American Rescue Plan Act of 2021 117 1319 HR 2021-03-11 Became Public Law No: 117-2. Related bill CRS 2021-03-09 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2021-03-09 Introduced in House IntroReferral Intro-H 9 Library of Congress 2021-03-09 Introduced in House IntroReferral 1000 9 Library of Congress G000553 Rep. Green, Al [D-TX-9] Al Green D TX 9 N W000187 Rep. Waters, Maxine [D-CA-43] MAXINE WATERS D CA 43 2021-03-09 True Commerce Appropriations Business investment and capital Cardiovascular and respiratory health Credit and credit markets Emergency medical services and trauma care Government lending and loan guarantees Indian social and development programs Infectious and parasitic diseases Minority and disadvantaged businesses Small business State and local finance State and local government operations Commerce 00 2021-03-09 Introduced in House 2021-08-18T17:10:17Z State Small Business Credit Initiative Renewal Act

This bill reauthorizes the State Small Business Credit Initiative through which the Department of the Treasury provides funding for participating states and tribal governments to support small business credit expansion programs that deliver loans or investments to eligible small businesses.

A participating state must provide Treasury with a description of (1) how minority depository institutions and community development financial institutions will be encouraged to participate in state programs, and (2) how the state will utilize funds to support small businesses in responding to and recovering from the economic effects of COVID-19.

The bill allocates specified portions of this funding for (1) states to support businesses that are owned by socially and economically disadvantaged individuals, (2) an incentive program to boost funding for states that demonstrate robust support for those businesses, (3) support for very small businesses (e.g., those with fewer than 10 employees), and (4) tribal governments.

Additionally, Treasury may provide funds to states, the Minority Business Development Agency, or other advisory firms to provide technical assistance to specified small businesses.

]]> State Small Business Credit Initiative Renewal Act Display Title State Small Business Credit Initiative Renewal Act Short Title(s) as Introduced State Small Business Credit Initiative Renewal Act Introduced in House IH Official Title as Introduced To amend the State Small Business Credit Initiative Act of 2010 to respond to the COVID-19 pandemic, and for other purposes. Introduced in House IH Introduced in House 2021-03-09T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-117hr1669ih/xml/BILLS-117hr1669ih.xml 2021-03-09 Referred to the House Committee on Financial Services. 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.