H.R. 3993: Capital Access for Small Businesses and Jobs Act

112th Congress · introduced 2012-02-09 · Finance and Financial Sector · Latest: Referred to the Subcommittee on Financial Institutions and Consumer Credit.

federal

Follow this bill, step by step

Where it came from: introduced 2012-02-09 · official record
Who proposed it: Rep. King, Peter T. [R-NY-3] · what a sponsor is
What happened next: no floor votes in our records yet. Why?
Where it stands now: Referred to the Subcommittee on Financial Institutions and Consumer Credit. Not final yet: this can still change. We check for updates every day.
If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

Capital Access for Small Businesses and Jobs Act

Plain summary

Capital Access for Small Businesses and Jobs Act - Amends the Federal Credit Union Act to empower federal credit unions to receive payments, representing equity, on certain uninsured non-share capital accounts, subject to such terms, rates, and conditions as may be established by the board of directors, within limitations prescribed by the National Credit Union Administration Board (Board). Requires any Board-prescribed system of prompt corrective action to take into account that credit unions rely predominantly (under current law, must rely) upon retained earnings to build net worth. Redefines "net worth" with respect to any insured credit union (other than a low-income credit union) to include non-share capital accounts, as authorized by the Board, that: (1) do not alter the cooperative nature of the credit union; (2) are uninsured; (3) are subordinate to all other claims against the credit union, including the claims of creditors, shareholders, and the National Credit Union Share Insurance Fund; (4) are available to be applied to cover operating losses of the credit union in excess of its retained earnings and, to the extent so applied, will not be replenished; (5) are subject to maturity limits as determined by the Board; and (6) are offered by a credit union that is sufficiently capitalized and well-managed.

Congressional Research Service summary (Introduced in House), quoted unchanged (nonpartisan). Read the source.

What a vote does

A “Yea” vote

If it passes both chambers and is signed, it becomes law.

A “Nay” vote

If it is not passed, current law stays as it is.

PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

Capital Access for Small Businesses and Jobs Act

Source: Congressional Research Service summary (Introduced in House)

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Alternatives

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Rep. King, Peter T. [R-NY-3] · 46 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Brad Sherman (D-CA), Gregory W. Meeks (D-NY), Chellie Pingree (D-ME), Paul Tonko (D-NY), Eleanor Holmes Norton (D-DC), Mazie K. Hirono (D-HI), Suzanne Bonamici (D-OR), Martin Heinrich (D-NM), Adam B. Schiff (D-CA)

No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.

Words on this page, explained (1)

Authorization: A law that creates or continues a government program and says what it may do, often with a suggested spending ceiling. An authorization alone does not provide money; a separate appropriation does.

Plain meanings written from linked sources. All words.

Sources

Congressional Research Service summary (Introduced in House)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-112hr3993.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/112/hr>

Record fed-us-cong112-hr3993 · catalog fed-us-congress-bills-cong112 · updated 2026-11-15 by psicol fed-bills-cong112