H.R. 560 (110th): Small Business Freedom to Lend Act of 2007

Introduced:
Jan 18, 2007 (110th Congress, 2007–2009)
Sponsor:
Rep. John Doolittle [R-CA4]
Status:
Died (Referred to Committee)

The bill’s title was written by the bill’s sponsor. H.R. stands for House of Representatives bill.

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Status

This bill was introduced on January 18, 2007, in a previous session of Congress, but was not enacted.

Progress
Introduced Jan 18, 2007
Cosponsors
none
Committees

House Small Business

The committee chair determines whether a bill will move past the committee stage.

Full Title

To establish a pilot program to eliminate certain restrictions on eligible certified development companies.

Summary

No summaries available.

Text

Read Bill Text »

Last updated Jan 18, 2007.
4 pages

Primary Source

View on THOMAS (The Library of Congress)

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GovTrack’s Bill Summary

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Library of Congress Summary

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.

1/18/2007--Introduced.
Small Business Freedom to Lend Act of 2007 - Directs the Administrator of the Small Business Administration (SBA) to establish a three-year pilot program to permit an eligible certified development company (CDC) to make loans (for small business development) in any state that is contiguous to its the state of incorporation. Makes eligible CDCs that are designated as either an accredited or premier certified lender under the Small Business Investment Act of 1958. Removes the requirement that such a CDC maintain, in each state in which it makes or intends to make loans, separate and distinct memberships, officers, boards of directors, and loan committees. Amends the Small Business Investment Act of 1958 to allow an officer, director, or manager of one qualified state or local development company to serve as an officer, director, or manager of another qualified state or local development company.

House Republican Conference Summary

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No summary available.

House Democratic Caucus Summary

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The bill contains the following citations to other parts of U.S. law:

United States Code

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