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H.R. 3419 (102nd): Small Business Recovery Act of 1991

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


9/25/1991--Introduced. Small Business Recovery Act of 1991 - Authorizes the Small Business Administration (SBA) to enter into agreements to participate, on a guaranteed basis, in the purchase of eligible securities issued pursuant to this Act by certain financial institutions. Sets forth participation criteria. Establishes the Regional Small Business Recovery Panel to evaluate: (1) applications submitted pursuant to this Act; (2) the type of proposed debt or equity security; and (3) claims for repurchase of approved securities by the SBA. Requires the SBA to submit a progress report to the Congress. Establishes the Regional Small Business Recovery Fund.