Employment Development Loan Act of 1979
Latest action. Referred to House Committee on Public Works and Transportation.
Employment Development Loan Act of 1979 - Amends the Public Works and Economic Development Act of 1965 to authorize the Secretary of Commerce to establish a development loan program in each area of substantial unemployment as determined by the Secretary of Labor pursuant to the Comprehensive Employment and Training Act. Requires such a program to provide loans to businesses which assure they will finance operations which will employ, for at least three years, significant numbers of unemployed individuals referred by a local agency designated to certify employees for the purpose of determining eligibility for the targeted jobs credit under the Internal Revenue Code of 1954. Stipulates that such loans: (1) shall have a term of three years subject to partial cancellation according to the length of time individuals are employed by a business; (2) shall bear interest at three percent, or four percent below the current average yield on comparable outstanding marketable obligations of the United States, whichever is higher; (3) shall require no payment of interest during the first year following receipt of the loan; and (4) shall not exceed a maximum amount determined by multiplying the number of individuals employed by $3,000. Authorizes appropriations to carry out the provisions of this Act for fiscal years 1980 through 1985.
Written by analysts at the Congressional Research Service and published on Congress.gov, not by Civibrief. Summarized at the "Introduced in House" stage on September 18, 1979. It describes the bill, it is not the legal text.
Where is it in the process, and what happens next?
4 steps remain before this bill could become law.
The record's latest action, on September 18, 1979: Referred to House Committee on Public Works and Transportation.
- Clearing the committees it was referred to, and being scheduled for a floor vote
- Passage by the House
- Passage by the Senate
- The President's signature. If the President vetoes it, two-thirds of both chambers must vote to override.
How likely is it to become law?
Civibrief does not forecast outcomes and this page has no opinion about this one. What the record supports is a base rate, which is a fact about the whole pile, not a prediction about this measure.
In the 96th Congress (1979-80), 613 of the 12,581 bills and joint resolutions introduced became law, about 4.9 percent. That count covers every measure at every stage, including the many that never left committee.
This one is not there yet: 4 steps are still outstanding, listed above.
Has anyone actually voted on it?
No. No roll call in this Congress cites this measure. That is the ordinary outcome: most measures never reach a recorded floor vote, and a committee ends most of them simply by not acting.
A vote is not the only thing that happens to a measure. Hearings, markups, and referrals are all recorded actions, and none of them is a vote of the full chamber.
Who is behind it?
JOHN JENRETTE (D-SC) introduced it on September 18, 1979. No cosponsors are recorded.
Cosponsoring is a formal signature on the text. It is not a commitment to vote for the measure, it does not bind anyone's party, and a long list of cosponsors is a measure of attention rather than of prospects.
How long has it been in play?
It was introduced on September 18, 1979, 17159 days ago. The most recent recorded action was 17159 days ago, on September 18, 1979.
Measures do not carry over. Anything the 96th Congress has not finished by January 3, 1981 dies when the term ends, and has to be introduced again from the start in the next Congress.
Every answer above is assembled from this measure's own record on Congress.gov and from published counts of what Congress has passed before. Civibrief does not predict outcomes and takes no position on any measure.
Vote history
- HouseIn committee, no floor vote yet
- SenateAwaits House passage
- PresidentAwaits both chambers