H.R.6053 - Bring the Jobs Home Loan Act of 2016114th Congress (2015-2016)
|Sponsor:||Rep. Israel, Steve [D-NY-3] (Introduced 09/15/2016)|
|Committees:||House - Small Business|
|Latest Action:||House - 09/15/2016 Referred to the House Committee on Small Business. (All Actions)|
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Summary: H.R.6053 — 114th Congress (2015-2016)All Information (Except Text)
Introduced in House (09/15/2016)
Bring the Jobs Home Loan Act of 2016
This bill amends the Small Business Act to direct the Small Business Administration (SBA) to establish a loan program to assist small business concerns involved in manufacturing to begin the U.S. production of products that would otherwise be imported.
Small business concerns receiving these loans must report to the SBA on: (1) facility and equipment changes made using the loans, and (2) progress made in the production of products in the U.S. The bill allows the SBA to consider the report information in determining whether to provide an additional loan or loan assistance under another SBA program.
It prohibits an individual loan greater than 5% of the total amount available for such loans.