PlainBillCongress, translated.Legislation. Context. Public interest.Read twice and referred to the Committee on Armed Services.
Congressional Research Service
Version 00 · Introduced in Senate · May 12, 1997
Authorizes the Secretary of Defense to support, through the provision of loan guarantees, programs sponsored by the Federal Government, regional entities, State and local governments, private entities, and nonprofit organizations that assist small and medium-sized businesses that are economically dependent on defense expenditures to acquire dual-use (military and commercial) capabilities. Provides for the transfer of such loan guarantee authority and funding from the Secretary to the appropriate Federal agency by way of a memorandum of understanding. Authorizes the Secretary to carry out the loan guarantee program during any fiscal year for which funds are specifically made available for such purpose. Requires competitive procedures to be used in the selection of appropriate businesses for the loan program, under specified criteria. Requires a borrower to demonstrate that, during any one of the past seven years, at least 25 percent of the borrower's sales were derived from: (1) contracts with the Department of Defense or defense-related activities of the Department of Energy; or (2) subcontracts in support of defense-related prime contracts. Provides for: (1) a maximum loan amount and a loan guaranty rate; and (2) a 60-40 allocation of loan funds to small and medium-sized businesses, respectively. Provides for the continued availability through FY 1999 of current funding for the loan guarantee program.
People & committees
Sen. D'Amato, Alfonse [R-NY] · R–NY
Legislative record
A procedural vote is different from passage. Passage in one chamber does not establish enactment. Explore the glossary.
Read twice and referred to the Committee on Armed Services.
Sponsor introductory remarks on measure. (CR S4321)
Introduced in Senate
Primary sources
Text links open the official source. We currently store references to these documents.
Source last updated: Jan 14, 2025. Consult Congress.gov for the current record.
AI Conversation Starters
Choose a perspective, copy a prompt, and paste it into your preferred AI. Each prompt includes the bill version and available official source links, and asks for counterarguments as well as supporting evidence.
Analyze S.735 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.
Examine S.735 through a progressive lens, focusing on fairness, access, economic inequality, and effects on vulnerable communities. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and distinguish stated goals from demonstrated outcomes.
Examine S.735 through a conservative lens, focusing on fiscal responsibility, institutional stability, federalism, and the scope of government. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and any provisions that challenge this perspective.
Examine S.735 through a civil-liberties and limited-government lens. Consider individual rights, privacy, voluntary choice, accountability, and government power. Explain tradeoffs, possible safeguards, and the strongest counterarguments without assuming the proposal is beneficial or harmful.