Legis Daily

RLF Act

USA116th CongressS-4075| Senate 
| Updated: 10/30/2020
Shelley Moore Capito

Shelley Moore Capito

Republican Senator

West Virginia

Cosponsors (9)
Joni Ernst (Republican)Roger F. Wicker (Republican)Tim Kaine (Democratic)Joe Manchin (Independent)Jon Tester (Democratic)Tina Smith (Democratic)Benjamin L. Cardin (Democratic)Jeff Merkley (Democratic)Steve Daines (Republican)

Environment and Public Works Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Reinvigorating Lending for the Future Act or the RLF Act This bill reduces reporting requirements for recipients of Revolving Loan Fund grants, which provide funds to capitalize lending programs for businesses that cannot obtain traditional bank financing. Specifically, upon request by a qualifying grantee, the Economic Development Administration (EDA) must release any federal interest in a grant—thereby relieving the grantee of associated federal reporting requirements—if the request is made at least seven years after the final disbursement of the original grant. Currently, the EDA may release the federal interest in a grant beginning 20 years after the grant was awarded.

Bill Text Versions

View Text
4 versions available

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Timeline
Jun 25, 2020
Introduced in Senate
Jun 25, 2020
Read twice and referred to the Committee on Environment and Public Works.
Jun 29, 2020

Latest Companion Bill Action

HR 116-7388
Referred to the Subcommittee on Economic Development, Public Buildings, and Emergency Management.
Aug 6, 2020
Passed Senate without amendment by Unanimous Consent. (text: CR S5346)
Aug 6, 2020
Passed/agreed to in Senate: Passed Senate without amendment by Unanimous Consent.(text: CR S5346)
Aug 6, 2020
Senate Committee on Environment and Public Works discharged by Unanimous Consent. (consideration: CR S5346)
Aug 6, 2020
Senate Committee on Environment and Public Works discharged by Unanimous Consent.
Aug 11, 2020
Message on Senate action sent to the House.
Aug 14, 2020
Received in the House.
Aug 14, 2020
Held at the desk.
Oct 1, 2020
Mr. Carbajal moved to suspend the rules and pass the bill.
Oct 1, 2020
Considered under suspension of the rules. (consideration: CR H5189-5190)
Oct 1, 2020
DEBATE - The House proceeded with forty minutes of debate on S. 4075.
Oct 1, 2020
Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by voice vote.
Oct 1, 2020
On motion to suspend the rules and pass the bill Agreed to by voice vote. (text: CR H5189-5190)
Oct 1, 2020
Motion to reconsider laid on the table Agreed to without objection.
Oct 20, 2020
Presented to President.
Oct 30, 2020
Signed by President.
Oct 30, 2020
Became Public Law No: 116-192.
  • June 25, 2020
    Introduced in Senate


  • June 25, 2020
    Read twice and referred to the Committee on Environment and Public Works.


  • June 29, 2020

    Latest Companion Bill Action

    HR 116-7388
    Referred to the Subcommittee on Economic Development, Public Buildings, and Emergency Management.


  • August 6, 2020
    Passed Senate without amendment by Unanimous Consent. (text: CR S5346)


  • August 6, 2020
    Passed/agreed to in Senate: Passed Senate without amendment by Unanimous Consent.(text: CR S5346)


  • August 6, 2020
    Senate Committee on Environment and Public Works discharged by Unanimous Consent. (consideration: CR S5346)


  • August 6, 2020
    Senate Committee on Environment and Public Works discharged by Unanimous Consent.


  • August 11, 2020
    Message on Senate action sent to the House.


  • August 14, 2020
    Received in the House.


  • August 14, 2020
    Held at the desk.


  • October 1, 2020
    Mr. Carbajal moved to suspend the rules and pass the bill.


  • October 1, 2020
    Considered under suspension of the rules. (consideration: CR H5189-5190)


  • October 1, 2020
    DEBATE - The House proceeded with forty minutes of debate on S. 4075.


  • October 1, 2020
    Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by voice vote.


  • October 1, 2020
    On motion to suspend the rules and pass the bill Agreed to by voice vote. (text: CR H5189-5190)


  • October 1, 2020
    Motion to reconsider laid on the table Agreed to without objection.


  • October 20, 2020
    Presented to President.


  • October 30, 2020
    Signed by President.


  • October 30, 2020
    Became Public Law No: 116-192.

Commerce

Related Bills

  • HR 116-7388: RLF Act
Credit and credit marketsEconomic developmentEconomic performance and conditions

RLF Act

USA116th CongressS-4075| Senate 
| Updated: 10/30/2020
Reinvigorating Lending for the Future Act or the RLF Act This bill reduces reporting requirements for recipients of Revolving Loan Fund grants, which provide funds to capitalize lending programs for businesses that cannot obtain traditional bank financing. Specifically, upon request by a qualifying grantee, the Economic Development Administration (EDA) must release any federal interest in a grant—thereby relieving the grantee of associated federal reporting requirements—if the request is made at least seven years after the final disbursement of the original grant. Currently, the EDA may release the federal interest in a grant beginning 20 years after the grant was awarded.

Bill Text Versions

View Text
4 versions available

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
Jun 25, 2020
Introduced in Senate
Jun 25, 2020
Read twice and referred to the Committee on Environment and Public Works.
Jun 29, 2020

Latest Companion Bill Action

HR 116-7388
Referred to the Subcommittee on Economic Development, Public Buildings, and Emergency Management.
Aug 6, 2020
Passed Senate without amendment by Unanimous Consent. (text: CR S5346)
Aug 6, 2020
Passed/agreed to in Senate: Passed Senate without amendment by Unanimous Consent.(text: CR S5346)
Aug 6, 2020
Senate Committee on Environment and Public Works discharged by Unanimous Consent. (consideration: CR S5346)
Aug 6, 2020
Senate Committee on Environment and Public Works discharged by Unanimous Consent.
Aug 11, 2020
Message on Senate action sent to the House.
Aug 14, 2020
Received in the House.
Aug 14, 2020
Held at the desk.
Oct 1, 2020
Mr. Carbajal moved to suspend the rules and pass the bill.
Oct 1, 2020
Considered under suspension of the rules. (consideration: CR H5189-5190)
Oct 1, 2020
DEBATE - The House proceeded with forty minutes of debate on S. 4075.
Oct 1, 2020
Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by voice vote.
Oct 1, 2020
On motion to suspend the rules and pass the bill Agreed to by voice vote. (text: CR H5189-5190)
Oct 1, 2020
Motion to reconsider laid on the table Agreed to without objection.
Oct 20, 2020
Presented to President.
Oct 30, 2020
Signed by President.
Oct 30, 2020
Became Public Law No: 116-192.
  • June 25, 2020
    Introduced in Senate


  • June 25, 2020
    Read twice and referred to the Committee on Environment and Public Works.


  • June 29, 2020

    Latest Companion Bill Action

    HR 116-7388
    Referred to the Subcommittee on Economic Development, Public Buildings, and Emergency Management.


  • August 6, 2020
    Passed Senate without amendment by Unanimous Consent. (text: CR S5346)


  • August 6, 2020
    Passed/agreed to in Senate: Passed Senate without amendment by Unanimous Consent.(text: CR S5346)


  • August 6, 2020
    Senate Committee on Environment and Public Works discharged by Unanimous Consent. (consideration: CR S5346)


  • August 6, 2020
    Senate Committee on Environment and Public Works discharged by Unanimous Consent.


  • August 11, 2020
    Message on Senate action sent to the House.


  • August 14, 2020
    Received in the House.


  • August 14, 2020
    Held at the desk.


  • October 1, 2020
    Mr. Carbajal moved to suspend the rules and pass the bill.


  • October 1, 2020
    Considered under suspension of the rules. (consideration: CR H5189-5190)


  • October 1, 2020
    DEBATE - The House proceeded with forty minutes of debate on S. 4075.


  • October 1, 2020
    Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by voice vote.


  • October 1, 2020
    On motion to suspend the rules and pass the bill Agreed to by voice vote. (text: CR H5189-5190)


  • October 1, 2020
    Motion to reconsider laid on the table Agreed to without objection.


  • October 20, 2020
    Presented to President.


  • October 30, 2020
    Signed by President.


  • October 30, 2020
    Became Public Law No: 116-192.
Shelley Moore Capito

Shelley Moore Capito

Republican Senator

West Virginia

Cosponsors (9)
Joni Ernst (Republican)Roger F. Wicker (Republican)Tim Kaine (Democratic)Joe Manchin (Independent)Jon Tester (Democratic)Tina Smith (Democratic)Benjamin L. Cardin (Democratic)Jeff Merkley (Democratic)Steve Daines (Republican)

Environment and Public Works Committee

Commerce

Related Bills

  • HR 116-7388: RLF Act
  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Credit and credit marketsEconomic developmentEconomic performance and conditions