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bill Progress


  • Not enacted
    The President has not signed this bill
  • The senate has not voted
  • The house has not voted
      house Committees
      House Committee on Financial Services
    IntroducedJune 18th, 2009

Bill Details

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Title

Bill to Underwrite Increased Lending to Domestic (BUILD) Manufacturing Act

Official Title

To create a program to guarantee loans made to manufacturing companies in order to promote increased domestic lending to the United States manufacturing industry.

Summary

Bill to Underwrite Increased Lending to Domestic (BUILD) Manufacturing Act or BUILD Manufacturing Act - Expresses the sense of Congress that the President should use all available powers to encourage financial institutions that are in receipt of federal financial support to immediately increase lending to the domestic manufacturing sector. Establishes within the Treasury the Manufacturing Loan Guarantee Program, headed by the Administrator of the Term Asset-Backed Securities Loan Facility (established by the Board of Governors of the Federal Reserve System), to guarantee loans made by depository institutions to U.S. manufacturing companies. Prohibits any such loan from equaling or exceeding 1.5 times the gross net worth of the company receiving the loan. Allows a company to have more than one guaranteed loan, within aggregate dollar limits. Authorizes the Administrator to adjust Program loan guarantee percentages in order to maximize lending and to minimize default rates of participating manufacturers. Expresses the sense of Congress that the Administrator should encourage participating depository institutions to focus on lending to small- and medium-sized manufacturers.

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