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bill Progress


  • Not enacted
    The President has not signed this bill
  • The senate has not voted
      senate Committees
      Senate Committee on Small Business and Entrepreneurship
  • The house Passed September 28th, 2010
    Passed by Voice Vote
      house Committees
      House Committee on Financial Services
    IntroducedSeptember 23rd, 2010

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Bill Details

Official information provided by the Congressional Research Service. Learn more or make a suggestion.
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Official Title

To amend the Small Business Jobs Act of 2010 to include certain construction and land development loans in the definition of small business lending.

Summary

Amends the Small Business Jobs Act of 2010 to include in the definition of small business lending under such Act loans secured by real estate: (1) that are made to finance land development that is preparatory to erecting new structures, including improving land, laying sewers, and laying water pipes, or the on-site construction of industrial, commercial, residential, or farm buildings; (2) that is vacant land, except land known to be used or usable for agricultural purposes; (3) the proceeds of which are to be used to acquire and improve developed or undeveloped property; or (4) that are made under title I or title X of the National Housing Act. Makes such inclusion applicable only to loans extended to small businesses in the construction industry.