# 116-hr-7388: RLF Act

116-hr-7388, RLF Act, is a 116th Congress bill sponsored by COLLIN PETERSON (D-MN); status Referred to the Subcommittee on Economic Development, Public Buildings, and Emergency Management. (as of 2025-11-18).

- Canonical: https://policyrisk.com/legislation/116-hr-7388
- As of: 2025-11-18
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 116-hr-7388
- Congress: 116
- Title: RLF Act
- Status: Referred to the Subcommittee on Economic Development, Public Buildings, and Emergency Management.
- Introduced: 2020-06-26
- Sponsor: COLLIN PETERSON (D-MN)
- Cosponsors: 11
- Policy area: Transportation and Public Works
- Touches household money: no
- Last recorded action: 2025-11-18

## Summary

Reinvigorating Lending for the Future Act or the RLF Act This bill reduces reporting requirements for recipients of Revolving Loan Fund grants, which provide funds to capitalize lending programs for businesses that cannot obtain traditional bank financing. Specifically, upon request by a qualifying grantee, the Economic Development Administration (EDA) must release any federal interest in a grant—thereby relieving the grantee of associated federal reporting requirements—if the request is made at least seven years after the final disbursement of the original grant. Currently, the EDA may release the federal interest in a grant beginning 20 years after the grant was awarded.

## Cosponsors (11)

- Rep. Katko, John [R-NY-24] (R-NY), 2020-06-26T00:00:00.000Z
- Rep. Hartzler, Vicky [R-MO-4] (R-MO), 2020-07-29T00:00:00.000Z
- Rep. Hagedorn, Jim [R-MN-1] (R-MN), 2020-08-11T00:00:00.000Z
- Rep. Griffith, H. Morgan [R-VA-9] (R-VA), 2020-08-11T00:00:00.000Z
- Rep. Johnson, Dusty [R-SD-At Large] (R-SD), 2020-08-11T00:00:00.000Z
- Rep. Trone, David J. [D-MD-6] (D-MD), 2020-08-21T00:00:00.000Z
- Rep. Norman, Ralph [R-SC-5] (R-SC), 2020-08-25T00:00:00.000Z
- Rep. Bacon, Don [R-NE-2] (R-NE), 2020-08-25T00:00:00.000Z
- Sen. Budd, Ted [R-NC] (R-NC), 2020-09-14T00:00:00.000Z
- Rep. Kelly, Trent [R-MS-1] (R-MS), 2020-09-22T00:00:00.000Z
- Rep. Cline, Ben [R-VA-6] (R-VA), 2020-09-22T00:00:00.000Z

## Related bills

- 116-hr-2423: Women's Suffrage Centennial Commemorative Coin Act
- 116-hr-4305: PAWS for Veterans Therapy Act
- 116-hr-3495: Improve Well-Being for Veterans Act
- 116-hr-748: CARES Act
- 116-hr-7278: JUSTICE Act
- 116-hr-7483: Flexible Financing for Rural America Act of 2020

## Sources
- [116-hr-7388 on Congress.gov](https://www.congress.gov/bill/116th-congress/house-bill/7388)

## Related
- [116-hr-2423: Women's Suffrage Centennial Commemorative Coin Act](https://policyrisk.com/legislation/116-hr-2423)
- [116-hr-4305: PAWS for Veterans Therapy Act](https://policyrisk.com/legislation/116-hr-4305)
- [116-hr-3495: Improve Well-Being for Veterans Act](https://policyrisk.com/legislation/116-hr-3495)
- [116-hr-748: CARES Act](https://policyrisk.com/legislation/116-hr-748)
- [116-hr-7278: JUSTICE Act](https://policyrisk.com/legislation/116-hr-7278)
- [116-hr-7483: Flexible Financing for Rural America Act of 2020](https://policyrisk.com/legislation/116-hr-7483)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/116-hr-7388 (as of 2025-11-18).