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H.R. 1020: New Business Preservation Act

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H.R. 1020: New Business Preservation Act

117th Congress · introduced 2021-02-11 · Commerce · Latest: Referred to the House Committee on Financial Services.

federal

Follow this bill, step by step

  1. Where it came from: introduced 2021-02-11 · official record
  2. Who proposed it: Rep. Phillips, Dean [D-MN-3] · 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

New Business Preservation Act

Plain summary

New Business Preservation Act This bill establishes and provides funding for the Innovation and Startups Equity Investment Program, through which the Department of the Treasury must work with states to invest in new businesses and startups. Specifically, the bill requires Treasury to provide certain funds to participating states, which these states must use to administer specified approved programs that provide equity investment in new businesses. Treasury must also award funds to approved state programs to provide follow-on investments. If a state receives funds from an exit, the state shall use such funds to further invest in startups under the approved program. An exit is defined as the (1) acquisition of a startup in which a state has invested under the program; (2) sale of a share of such startup following an initial public offering; or (3) voluntary purchase of a state's ownership interest by the startup, investors, or existing shareholders.

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

New Business Preservation Act

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. Phillips, Dean [D-MN-3] · 4 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Terri A. Sewell (D-AL), Ro Khanna (D-CA), Bill Foster (D-IL), Joe Neguse (D-CO)

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-cong117-hr1020 · catalog fed-us-congress-bills-cong117 · updated 2026-11-15 by psicol fed-bills-cong117