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Small Business Program: Hedging Against Volatile Fuel and Commodity Costs.

This bill establishes a pilot program within the Small Business Administration (SBA) designed to stabilize operating costs for small businesses. The program allows eligible entrepreneurs to enter into agreements to purchase commodity futures for essential inputs, such as gasoline and diesel fuel, at a fixed price. This mechanism helps small businesses budget more effectively and protects them from sudden price spikes, supporting their financial stability.
Key points
Creation of the "Helping Small Businesses Thrive Program" to limit financial risk from commodity price volatility.
Small businesses can enter into futures agreements to lock in prices for fuels (gasoline, diesel) and other commodities for up to 3 years.
The SBA must provide outreach and guidance to help businesses determine if participation in the program is beneficial.
Agreements are offered to small businesses at cost, covering all associated fees and commissions incurred by the SBA.
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Additional Information
Print number: 118_S_5063
Sponsor: Sen. Shaheen, Jeanne [D-NH]
Process start date: 2024-09-17
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Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Helping Small Businesses THRIVE Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_S_5063.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2024-09-17.

What are the main provisions?

Key points include:

  • Creation of the "Helping Small Businesses Thrive Program" to limit financial risk from commodity price volatility.
  • Small businesses can enter into futures agreements to lock in prices for fuels (gasoline, diesel) and other commodities for up to 3 years.
  • The SBA must provide outreach and guidance to help businesses determine if participation in the program is beneficial.
  • Agreements are offered to small businesses at cost, covering all associated fees and commissions incurred by the SBA.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Shaheen, Jeanne [D-NH].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-26.

CATEGORIES

Economy