Summary
Main Street Parity Act
This bill lessens the financing requirements for certain Small Business Administration loans to small businesses for plant acquisition, construction, conversion, or expansion, including the acquisition of land. Specifically, the bill reduces the amount of equity a borrower must provide by 5% of the total cost for loans for limited or single-purpose properties.
Legislative Journey
Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.
SenateMotion to reconsider laid on the table Agreed to without objection.
HouseOn motion to suspend the rules and pass the bill Agreed to by the Yeas and Nays: (2/3 required): 383 - 8 (Roll no. 32). (text: CR H930)
HousePassed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by the Yeas and Nays: (2/3 required): 383 - 8 (Roll no. 32). (text: CR H930)
Considered as unfinished business. (consideration: CR H939-940)
HouseAt the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.
HouseDEBATE - The House proceeded with forty minutes of debate on H.R. 5763.
HouseConsidered under suspension of the rules. (consideration: CR H930-931)
HouseMr. Williams (TX) moved to suspend the rules and pass the bill.
HousePlaced on the Union Calendar, Calendar No. 354.
HouseReported by the Committee on Small Business. H. Rept. 119-406.
HouseReported by the Committee on Small Business. H. Rept. 119-406.
Ordered to be Reported by the Yeas and Nays: 27 - 0.
HouseCommittee Consideration and Mark-up Session Held
HouseReferred to the House Committee on Small Business.
HouseIntroduced in House
Introduced in House