H.R.5412 - Small Business Asset Investment and Modernization (AIM) Act of 2010111th Congress (2009-2010)
|Sponsor:||Rep. Bean, Melissa L. [D-IL-8] (Introduced 05/26/2010)|
|Committees:||House - Small Business|
|Latest Action:||05/26/2010 Referred to the House Committee on Small Business. (All Actions)|
This bill has the status Introduced
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Summary: H.R.5412 — 111th Congress (2009-2010)All Information (Except Text)
Introduced in House (05/26/2010)
Small Business Asset Investment and Modernization (AIM) Act of 2010 - Amends the Small Business Investment Act of 1958 concerning the 504 program (Small Business Administration [SBA] financings to small businesses through certified development companies) to increase maximum program loan amounts.
Authorizes the Administrator of the SBA, from the date of enactment of this Act through FY2012, to approve under such program the refinancing of indebtedness that is secured by a lien on commercial real estate or equipment of a small business, under specified terms and conditions. Limits to $7.5 billion the total amount of such financing in a fiscal year. Authorizes the Administrator, in order to carry out such program, to make personnel appointments of at least one year and not more than six years. Allows the Administrator to eliminate the pension offset for the reemployment of retired federal employees for such purposes.