legislation: 111-hr-6055

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bill_id congress bill_type bill_number title policy_area introduced_date latest_action_date latest_action_text origin_chamber sponsor_name sponsor_state sponsor_party sponsor_bioguide_id cosponsor_count summary_text update_date url
111-hr-6055 111 hr 6055 Accounts Receivable Insurance Program Act Commerce 2010-07-30 2010-07-30 Referred to the House Committee on Financial Services. House Rep. Murphy, Christopher [D-CT-5] CT D M001169 1 Accounts Receivable Insurance Program Act - Establishes within the Treasury a government-backed private accounts receivable insurance program to assist small manufacturers in the underwriting and guarantee of payment through the insurance of their accounts receivable. Directs the Secretary of the Treasury to insure (guarantee) accounts receivable underwritten by financial or insurance institutions for small manufacturing businesses and, if a small manufacturing business defaults, to pay such an institution any remaining balance of an obligation of a small manufacturing business that is covered under the insurance. Prohibits a financial or insurance institution from being eligible for a guarantee under the program if the institution insured the accounts receivable of a small manufacturing business for less than 80% of their value. Provides program funding. Prohibits the Secretary from entering into guarantees with institutions under the program after December 31, 2011, or one year after the enactment of this Act, whichever is later. 2023-01-11T13:21:47Z  

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