Community Advantage Loan Program Act of 2024
Latest Action
Referred to the House Committee on Small Business.
Official Summary
Official summary has not been imported yet.
GovScope Watchdog™
AI Government Intelligence™The Community Advantage Loan Program Act of 2024 is a bill introduced in the 118th Congress aimed at supporting small businesses through a loan program. The bill was referred to the House Committee on Small Business but did not advance further and is currently classified as failed or expired. Specific details about the program's provisions, funding, or implementation are not available in the provided source data.
This bill sought to establish or modify a loan program to aid small businesses but did not progress beyond committee referral and is no longer active in the current Congress.
- The bill is titled the Community Advantage Loan Program Act of 2024 and was introduced in the House of Representatives.
- It was referred to the House Committee on Small Business on March 6, 2024.
- The bill is currently listed as failed or expired, indicating it did not pass into law during the 118th Congress.
['Small businesses potentially eligible for loans under the Community Advantage Loan Program.', 'The Small Business Administration (SBA) as the likely administering agency, based on the committee referral.']
['Lack of available full bill text limits understanding of specific program details, funding mechanisms, and oversight provisions.', 'Since the bill did not advance, any intended policy changes or benefits were not implemented.', 'Potential costs and administrative requirements associated with establishing or modifying a loan program are unknown.']
The bill was introduced and referred to the House Committee on Small Business during the 118th Congress but did not move forward. This reflects the legislative process where many bills are introduced but only a subset advance to become law. The bill falls under the commerce policy area, focusing on small business support.
Hidden impact flags detected: 1
GovScope reviewed 1 policy-risk categories. Hover for a quick definition. Click detected flags for bill-specific details.
['If enacted, the bill could have increased access to capital for small businesses, potentially stimulating local economies.', 'Administrative costs and resource allocation within the Small Business Administration might have increased to manage the loan program.', 'Failure to pass may have maintained the status quo in small business lending support.']
Transparency is limited due to the absence of the full bill text and official summary, which restricts detailed public understanding and oversight. The bill's failure to advance also means no implementation oversight was necessary. Future tracking of similar bills would benefit from more complete documentation to assess policy impacts and administrative responsibilities.
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