H.R.5734 - Dealer Floor Plan Program Extension and Improvement Act of 2010111th Congress (2009-2010)
Text: H.R.5734 — 111th Congress (2009-2010)
There is one version of the bill.
Introduced in House (07/14/2010)
[Congressional Bills 111th Congress] [From the U.S. Government Printing Office] [H.R. 5734 Introduced in House (IH)] 111th CONGRESS 2d Session H. R. 5734 To direct the Administrator of the Small Business Administration to extend and improve the Dealer Floor Plan Pilot Initiative, and for other purposes. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES July 14, 2010 Mr. Donnelly of Indiana (for himself and Mr. Upton) introduced the following bill; which was referred to the Committee on Small Business _______________________________________________________________________ A BILL To direct the Administrator of the Small Business Administration to extend and improve the Dealer Floor Plan Pilot Initiative, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Dealer Floor Plan Program Extension and Improvement Act of 2010''. SEC. 2. EXTENSION AND IMPROVEMENT OF THE DEALER FLOOR PLAN PILOT INITIATIVE. (a) In General.--The Administrator of the Small Business Administration shall carry out a program to make available loan guarantees to assist dealers of titleable assets to finance inventory (in this section referred to as the ``program''). (b) Administration.--Except as otherwise provided under this section, the Administrator shall carry out the program in the same manner as the Dealer Floor Plan Pilot Initiative of the Small Business Administration, as in effect on May 1, 2010. (c) Maximum Participation.--The Administrator may guarantee not more than 90 percent of a loan under the program. (d) Authority To Revise Program.--Not later than 60 days after the date of enactment of this Act, and after consulting with representatives of lending institutions and manufacturers and dealers of titleable assets, the Administrator shall issue regulations revising the program to address barriers to program participation experienced by lending institutions and dealers of titleable assets. (e) Termination.--The program shall terminate on September 30, 2015.