H.R. 6099 (112th): SEED Act of 2012

Introduced:
Jul 11, 2012 (112th Congress, 2011–2013)
Sponsor:
Rep. Russ Carnahan [D-MO3]
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 July 11, 2012, in a previous session of Congress, but was not enacted.

Progress
Introduced Jul 11, 2012
Referred to Committee Jul 11, 2012
Cosponsors
6 cosponsors (6D) (show)
Committees

House Financial Services

House Transportation and Infrastructure

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

Full Title

To amend the Public Works and Economic Development Act of 1965 with respect to grants for economic adjustment, and for other purposes.

Summary

No summaries available.

Text

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Last updated Jul 11, 2012.
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.

7/11/2012--Introduced.
Supporting Entrepreneurial Economic Development Act of 2012 or the SEED Act of 2012 - Amends the Public Works and Economic Development Act of 1965 to prohibit a recipient of an economic adjustment grant from making, but permits a venture development organization to make, a grant, equity investment, or convertible loan to a private for-profit entity.
Requires such an organization that assists a private for-profit entity with funds made available from an economic adjustment grant and that receives funds from such entity at any time as a result of such assistance to use such funds only to assist other private for-profit entities.
Defines a "venture development organization" as a public entity or private, nonprofit entity that provides to an early-stage technology business, to promote the growth of that business:
(1) financial investment or assistance acquiring financial investment,
(2) expert mentoring, and
(3) assistance to speed the commercialization of technology.

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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