Main Street Parity Act
Simpler rules for small business building and expansion loans
Stalled
No legislative action in over 90 days.
Legislative Progress
Key Points
- Changes the rules for federal small business loans used to buy, build, or expand a business location
- Removes two qualifying items from the law and updates references, which could change who gets approved
- Impact could make qualifying easier or harder, but the text does not say which tests were removed
- Does not add funding or change rates; it only adjusts who can qualify and how lenders review loans
- Owners planning to buy land, build, or expand should check with their lender or the Small Business Administration
Impact Analysis
Govbase has not yet run an impact analysis on this legislation.
Milestones
Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.
Sent to a congressional committee for expert review. The committee decides whether this bill moves forward.
Motion to reconsider laid on the table Agreed to without objection.
On motion to suspend the rules and pass the bill Agreed to by the Yeas and Nays: (2/3 required): 383 - 8 (Roll no. 32). (text: CR H930)
The House fast-tracked this bill — limited debate, no amendments allowed, but needs two-thirds support to pass.
Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by the Yeas and Nays: (2/3 required): 383 - 8 (Roll no. 32). (text: CR H930)
The House fast-tracked this bill — limited debate, no amendments allowed, but needs two-thirds support to pass.
Considered as unfinished business. (consideration: CR H939-940)
Vote Results
1 voteOn Motion to Suspend the Rules and Pass
News
No related news coverage found for this legislation yet.
Source Information
Document Type
Congressional Bill
Official Title
Main Street Parity Act
Data Sources
Sponsor
Cosponsors
(4)Analysis generated by AI. Always verify with official sources.