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   &lt;pre&gt;[Congressional Record Volume 167, Number 44 (Tuesday, March 9, 2021)][House]From the Congressional Record Online through the Government Publishing Office [&lt;a href="https://www.gpo.gov"&gt;www.gpo.gov&lt;/a&gt;]By Mr. GREEN of Texas:H.R. 1669.Congress has the power to enact this legislation pursuantto the following:Taxing and Spending Clause: Article 1, Section 8, clause1--provides Congress authority to, inter alia, enact spendinglegislation.Commerce Clause: Article 1, Section 8, clause 3--providesCongress with the power to regulate commerce with foreignnations and among the states, including the use of thechannels of interstate commerce, the instrumentalities ofinterstate commerce, or persons or things in interstatecommerce.Necessary and Proper Clause: Article 1, Section 8, clause18--allows Congress the power to make all laws that arenecessary and proper for executing its enumerated powers andall other powers vested by the Constitution in the U.S.Government.[Page H1189]&lt;/pre&gt;
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     &lt;p&gt;&lt;b&gt;State Small Business Credit Initiative Renewal Act&lt;/b&gt;&lt;/p&gt; &lt;p&gt;This bill reauthorizes the State Small Business Credit Initiative through which the Department of the Treasury provides funding for participating states and tribal governments to support small business credit expansion programs that deliver loans or investments to eligible small businesses.&lt;/p&gt; &lt;p&gt;A participating state must provide Treasury with a description of (1) how minority depository institutions and community development financial institutions will be encouraged to participate in state programs, and (2) how the state will utilize funds to support small businesses in responding to and recovering from the economic effects of COVID-19.&lt;/p&gt; &lt;p&gt;The bill allocates specified portions of this funding for (1) states to support businesses that are owned by socially and economically disadvantaged individuals, (2) an incentive program to boost funding for states that demonstrate robust support for those businesses, (3) support for very small businesses (e.g., those with fewer than 10 employees), and (4) tribal governments.&lt;/p&gt; &lt;p&gt;Additionally, Treasury may provide funds to states, the Minority Business Development Agency, or other advisory firms to provide technical assistance to specified small businesses.&lt;/p&gt;
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   State Small Business Credit Initiative Renewal Act
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     State Small Business Credit Initiative Renewal Act
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   This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.
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H11100
2021-03-09
Financial Services Committee
hsba00
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House floor actions
Referred to the House Committee on Financial Services.
IntroReferral
Intro-H
2021-03-09
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Library of Congress
Introduced in House
IntroReferral
1000
2021-03-09
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Introduced in House
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2021-03-09T15:03:35Z
Referred to
House
Financial Services Committee
hsba00
Standing
W000187
43
MAXINE
Rep. Waters, Maxine [D-CA-43]
WATERS
D
2021-03-09
CA
Congressional Research Service, Library of Congress
This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.
text/xml
EN
Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.
2021-03-09
2021-03-09
Referred to the House Committee on Financial Services.
House
Commerce
2021-03-11
Became Public Law No: 117-2.
CRS
Related bill
American Rescue Plan Act of 2021
HR
G000553
9
Al
Rep. Green, Al [D-TX-9]
N
Green
D
TX
Appropriations Business investment and capital Cardiovascular and respiratory health Credit and credit markets Emergency medical services and trauma care Government lending and loan guarantees Indian social and development programs Infectious and parasitic diseases Minority and disadvantaged businesses Small business State and local finance State and local government operations
2021-03-09
Introduced in House
 <p><b>State Small Business Credit Initiative Renewal Act</b></p> <p>This bill reauthorizes the State Small Business Credit Initiative through which the Department of the Treasury provides funding for participating states and tribal governments to support small business credit expansion programs that deliver loans or investments to eligible small businesses.</p> <p>A participating state must provide Treasury with a description of (1) how minority depository institutions and community development financial institutions will be encouraged to participate in state programs, and (2) how the state will utilize funds to support small businesses in responding to and recovering from the economic effects of COVID-19.</p> <p>The bill allocates specified portions of this funding for (1) states to support businesses that are owned by socially and economically disadvantaged individuals, (2) an incentive program to boost funding for states that demonstrate robust support for those businesses, (3) support for very small businesses (e.g., those with fewer than 10 employees), and (4) tribal governments.</p> <p>Additionally, Treasury may provide funds to states, the Minority Business Development Agency, or other advisory firms to provide technical assistance to specified small businesses.</p>
2021-08-18T17:10:17Z
00
2021-03-09T05:00:00Z
Introduced in House
https://www.govinfo.gov/content/pkg/BILLS-117hr1669ih/xml/BILLS-117hr1669ih.xml
State Small Business Credit Initiative Renewal Act
State Small Business Credit Initiative Renewal Act
Display Title
IH
Introduced in House
State Small Business Credit Initiative Renewal Act
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IH
Introduced in House
To amend the State Small Business Credit Initiative Act of 2010 to respond to the COVID-19 pandemic, and for other purposes.
Official Title as Introduced
HR
2023-03-08T19:58:39Z
2023-03-08T19:58:39Z
3.0.0
2021-03-11
Became Public Law No: 117-2.
CRS
Related bill
American Rescue Plan Act of 2021
HR
H11100
2021-03-09
Financial Services Committee
hsba00
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Referred to the House Committee on Financial Services.
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2021-03-09
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Rep. Green, Al [D-TX-9]
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W000187
43
MAXINE
Rep. Waters, Maxine [D-CA-43]
WATERS
D
2021-03-09
CA
Appropriations Business investment and capital Cardiovascular and respiratory health Credit and credit markets Emergency medical services and trauma care Government lending and loan guarantees Indian social and development programs Infectious and parasitic diseases Minority and disadvantaged businesses Small business State and local finance State and local government operations
2021-03-09
Introduced in House
 <p><b>State Small Business Credit Initiative Renewal Act</b></p> <p>This bill reauthorizes the State Small Business Credit Initiative through which the Department of the Treasury provides funding for participating states and tribal governments to support small business credit expansion programs that deliver loans or investments to eligible small businesses.</p> <p>A participating state must provide Treasury with a description of (1) how minority depository institutions and community development financial institutions will be encouraged to participate in state programs, and (2) how the state will utilize funds to support small businesses in responding to and recovering from the economic effects of COVID-19.</p> <p>The bill allocates specified portions of this funding for (1) states to support businesses that are owned by socially and economically disadvantaged individuals, (2) an incentive program to boost funding for states that demonstrate robust support for those businesses, (3) support for very small businesses (e.g., those with fewer than 10 employees), and (4) tribal governments.</p> <p>Additionally, Treasury may provide funds to states, the Minority Business Development Agency, or other advisory firms to provide technical assistance to specified small businesses.</p>
2021-08-18T17:10:17Z
00
State Small Business Credit Initiative Renewal Act
State Small Business Credit Initiative Renewal Act
Display Title
IH
Introduced in House
State Small Business Credit Initiative Renewal Act
Short Title(s) as Introduced
IH
Introduced in House
To amend the State Small Business Credit Initiative Act of 2010 to respond to the COVID-19 pandemic, and for other purposes.
Official Title as Introduced
2021-03-09
Referred to the House Committee on Financial Services.