To require the Administrator of the Small Business Administration to establish a program to allow small business concerns to purchase certain commodities futures, and for other purposes.
About This Bill
Committee
Latest Action · September 17, 2024
Read twice and referred to the Committee on Small Business and Entrepreneurship.
The Helping Small Businesses THRIVE Act establishes a pilot program within the Small Business Administration to help small businesses manage costs by purchasing commodity futures contracts. The program, which must be created within one year of enactment, will allow eligible small businesses to lock in prices or protect against price increases for key commodities like gasoline and diesel fuel, with the option to add up to three additional commodities. Eligible businesses cannot be financial institutions, investment firms, or brokers, and must have been operating for at least one year. The SBA Administrator will work with the Commodity Futures Trading Commission and Treasury Department to offer businesses futures purchase agreements and call option agreements at cost, with contract durations ranging from 60 days to 3 years. The bill requires the Administrator to submit an initial report within 120 days and annual reports thereafter detailing program participation, agreements entered, and effects on participating businesses, with funding authorized as necessary to establish and operate the program.
Take Action
Your position
Add a comment
to comment on this bill.
Annotate the text
Highlight any passage on the Summary or Full Text tab to attach a note. Annotations appear on the Annotations tab.