Summary: H.R.3419 — 102nd Congress (1991-1992)All Information (Except Text)

There is one summary for H.R.3419. Bill summaries are authored by CRS.

Shown Here:
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.