H.R. 5851 (112th): Increasing Small Business Lending Act of 2012

112th Congress, 2011–2013. Text as of May 18, 2012 (Introduced).

Status & Summary | PDF | Source: GPO

I

112th CONGRESS

2d Session

H. R. 5851

IN THE HOUSE OF REPRESENTATIVES

May 18, 2012

(for himself, Mr. Carnahan, Mr. Cicilline, Mr. Doggett, Mr. Larsen of Washington, Mr. Markey, Mr. McGovern, Ms. Norton, Mr. Olver, Mr. Rangel, Mr. Sarbanes, Ms. Schakowsky, and Mr. Tonko) introduced the following bill; which was referred to the Committee on Small Business

A BILL

To increase small business lending, and for other purposes.

1.

Short title

This Act may be cited as the Increasing Small Business Lending Act of 2012.

2.

Fee reductions and loan guarantees

(a)

Fee reductions

Section 501 of the American Recovery and Reinvestment Act of 2009 (Public Law 111–5; 123 Stat. 151) is amended by striking March 4, 2011 each place it appears and inserting the date that is 1 year after the date of enactment of the Increasing Small Business Lending Act of 2012.

(b)

Loan guarantees

Section 502(f) of division A of the American Recovery and Reinvestment Act of 2009 (Public Law 111–5; 123 Stat. 153) is amended by striking March 4, 2011 and inserting the date that is 1 year after the date of enactment of the Increasing Small Business Lending Act of 2012.

(c)

Authorization of appropriations

There are authorized to be appropriated to the Administrator of the Small Business Administration such sums as may be necessary to carry out sections 501 and 502 of the American Recovery and Reinvestment Act of 2009 (Public Law 111–5; 123 Stat. 151), as amended by this subsection.