504 Credit Risk Management Improvement Act of 2020
USA116th CongressHR-8199| House
| Updated: 12/7/2020
Dan Bishop
Republican Representative
North Carolina
Cosponsors (2)
Small Business Committee, Small Business and Entrepreneurship Committee
- Introduced
- In Committee
- On Floor
- Passed Chamber
- Enacted
504 Credit Risk Management Improvement Act of 2020 This bill revises the duties of the Office of Credit Risk Management to include oversight of a certified development company (CDC) that participates in the 504 Loan Program of the Small Business Administration (SBA), and it requires the SBA to issue rules related to certain environmental requirements. The 504 Loan Program provides a small business with SBA financing—through a CDC intermediary—for expansion or modernization. Specifically, the bill requires the office to oversee any CDC that participates in the program and to conduct file reviews with respect to loan closings under the program. Further, the bill authorizes the office to take formal and informal enforcement actions against a CDC for specified violations and to charge each CDC a fee. The SBA must issue rules to clarify the procedures necessary for an eligible CDC to comply with certain environmental requirements.
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Timeline
Introduced in House
Referred to the House Committee on Small Business.
Ordered to be Reported by Voice Vote.
Committee Consideration and Mark-up Session Held.
Ms. Velazquez moved to suspend the rules and pass the bill, as amended.
Considered under suspension of the rules. (consideration: CR H6076-6078)
DEBATE - The House proceeded with forty minutes of debate on H.R. 8199.
Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.(text: CR H6076-6077)
On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H6076-6077)
Motion to reconsider laid on the table Agreed to without objection.
Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.
Commerce
Administrative law and regulatory proceduresAdministrative remediesBanking and financial institutions regulationBusiness recordsFinancial services and investmentsSmall businessSmall Business AdministrationUser charges and fees
504 Credit Risk Management Improvement Act of 2020
USA116th CongressHR-8199| House
| Updated: 12/7/2020
504 Credit Risk Management Improvement Act of 2020 This bill revises the duties of the Office of Credit Risk Management to include oversight of a certified development company (CDC) that participates in the 504 Loan Program of the Small Business Administration (SBA), and it requires the SBA to issue rules related to certain environmental requirements. The 504 Loan Program provides a small business with SBA financing—through a CDC intermediary—for expansion or modernization. Specifically, the bill requires the office to oversee any CDC that participates in the program and to conduct file reviews with respect to loan closings under the program. Further, the bill authorizes the office to take formal and informal enforcement actions against a CDC for specified violations and to charge each CDC a fee. The SBA must issue rules to clarify the procedures necessary for an eligible CDC to comply with certain environmental requirements.
Suggested Questions
Get AI-generated questions to help you understand this bill better
Timeline
Introduced in House
Referred to the House Committee on Small Business.
Ordered to be Reported by Voice Vote.
Committee Consideration and Mark-up Session Held.
Ms. Velazquez moved to suspend the rules and pass the bill, as amended.
Considered under suspension of the rules. (consideration: CR H6076-6078)
DEBATE - The House proceeded with forty minutes of debate on H.R. 8199.
Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.(text: CR H6076-6077)
On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H6076-6077)
Motion to reconsider laid on the table Agreed to without objection.
Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.
Dan Bishop
Republican Representative
North Carolina
Cosponsors (2)
Small Business Committee, Small Business and Entrepreneurship Committee
Commerce
- Introduced
- In Committee
- On Floor
- Passed Chamber
- Enacted
Administrative law and regulatory proceduresAdministrative remediesBanking and financial institutions regulationBusiness recordsFinancial services and investmentsSmall businessSmall Business AdministrationUser charges and fees