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H.R. 5113: Investing in America's Small Businesses Act of 2016

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H.R. 5113: Investing in America's Small Businesses Act of 2016

114th Congress · introduced 2016-04-28 · Finance and Financial Sector · Latest: Referred to the House Committee on Financial Services.

federal

Follow this bill, step by step

  1. Where it came from: introduced 2016-04-28 · official record
  2. Who proposed it: Rep. Maloney, Carolyn B. [D-NY-12] · what a sponsor is
  3. What happened next: no floor votes in our records yet. Why?
  4. Where it stands now: Referred to the House Committee on Financial Services. Not final yet: this can still change. We check for updates every day.
  5. 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

Investing in America's Small Businesses Act of 2016

Plain summary

Investing in America's Small Businesses Act of 2016 This bill amends the Community Development Banking and Financial Institutions Act of 1994 to require the Community Development Financial Institutions Fund to make grants to community development financial institutions to enable such institutions to establish a loan-loss reserve fund to defray the costs of a small business loan program. The bill defines "small business loan program" as a program in which a community development financial institution offers loans to small businesses that: (1) are made in amounts up to $50,000, (2) have no prepayment penalty, and (3) meet any affordability requirements established by Administrator of the Fund. A community development financial institution must provide non-federal matching funds equal to 50% of the amount of any grant received. The bill prohibits the use of such grants to make direct loans to small businesses. A community development financial institution may use such a grant to: (1) help recapture a portion or all of a defaulted loan made under its small business loan program, and (2) designate and utilize a fiscal agent for services the agent normally provides. The Fund shall make technical assistance grants to community development financial institutions to create, support, or maintain such a program.

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

Investing in America's Small Businesses Act of 2016

Source: Congressional Research Service summary (Introduced in House)

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The strongest published arguments

Arguments for (supporters)

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Arguments against (opponents)

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Alternatives

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

Officials and money

Sponsor: Rep. Maloney, Carolyn B. [D-NY-12] · 16 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Nydia M. Velázquez (D-NY), Juan Vargas (D-CA), Gwen Moore (D-WI), Henry C. "Hank" Johnson, Jr. (D-GA), Yvette D. Clarke (D-NY), Eleanor Holmes Norton (D-DC)

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)
Bill
A proposed law. It becomes law only if it passes the legislature and is signed by the president or governor (or a veto is overridden).

Plain meanings written from linked sources. All words.

Sources

Record fed-us-cong114-hr5113 · catalog fed-us-congress-bills-cong114 · updated 2026-11-15 by psicol fed-bills-cong114