United States 112th Congress Status: Died 1 R cosponsors

S 681 — Greater Accountability in the Lending Fund Act of 2011

Last action — Read twice and referred to the Committee on Small Business and Entrepreneurship. (text of measure as introduced: CR S1991-1992)

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  1. ✓
    Introduced
  2. ✓
    In Committee
  3. Died in session

This bill died with 112th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Summary

Greater Accountability in the Lending Fund Act of 2011 - Amends the Small Business Jobs Act of 2010 relating to the Small Business Lending Fund Program to: (1) remove a requirement that the capital investment received by an eligible small business under the Program be evidenced by stock or other financial instrument that carries the highest dividend or interest rate payable; (2) terminate the Program 15 years after the enactment of such Act; (3) prohibit the Secretary of the Treasury from making capital investments under the Program if the Federal Deposit Insurance Corporation (FDIC) is appointed receiver of 5% or more of the institutions receiving an investment under the Program; (4) prohibit Program participation by any institution in which the Secretary made an investment under the Troubled Asset Relief Program (TARP) under the Emergency Economic Stabilization Act of 2008; (5) revise provisions concerning consideration of private investment under the Program; (6) require the approval of (under current law, requires consultation with) appropriate financial regulators when determining whether an institution should receive a capital investment; and (7) revise the benchmark against which changes in the amount of small business lending shall be measured.

Bill Text

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Read S 681 on the official United States source →

Action History

  1. Read twice and referred to the Committee on Small Business and Entrepreneurship. (text of measure as introduced: CR S1991-1992)

Sponsors

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 546 not signed on

Sponsors (1)

Co-sponsors (0)

None.

Not signed on (546)

546 members have not signed on to this bill.

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"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

finance
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Frequently asked questions

What does S 681 do?
Greater Accountability in the Lending Fund Act of 2011 - Amends the Small Business Jobs Act of 2010 relating to the Small Business Lending Fund Program to: (1) remove a requirement that the capital investment received by an eligible small business under the Program be evidenced by stock or other financial instrument that carries the highest dividend or interest rate payable; (2) terminate the Program 15 years after the enactment of such Act; (3) prohibit the Secretary of the Treasury from making capital investments under the Program if the Federal Deposit Insurance Corporation (FDIC) is appointed receiver of 5% or more of the institutions receiving an investment under the Program; (4) prohibit Program participation by any institution in which the Secretary made an investment under the Troubled Asset Relief Program (TARP) under the Emergency Economic Stabilization Act of 2008; (5) revise provisions concerning consideration of private investment under the Program; (6) require the approval of (under current law, requires consultation with) appropriate financial regulators when determining whether an institution should receive a capital investment; and (7) revise the benchmark against which changes in the amount of small business lending shall be measured.
Who sponsors S 681?
S 681 is sponsored by Olympia Snowe (Republican).
What is the current status of S 681?
This bill died with 112th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track S 681?
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