H.R.3419 - Small Business Recovery Act of 1991102nd Congress (1991-1992)
|Sponsor:||Rep. Mavroules, Nicholas [D-MA-6] (Introduced 09/25/1991)|
|Committees:||House - Banking, Finance, and Urban Affairs; Small Business|
|Latest Action:||House - 10/10/1991 Referred to the Subcommittee on SBA, the General Economy, and Minority Enterprise Development. (All Actions)|
This bill has the status Introduced
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Summary: H.R.3419 — 102nd Congress (1991-1992)All Information (Except Text)
Introduced in House (09/25/1991)
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.