HR 4598 111th Congress House Commerce Administrative law and regulatory procedures Congressional oversight Government lending and loan guarantees Small Business Administration Small business

Express Loans Improvements Act of 2010

Introduced: February 4, 2010 See on congress.gov

Everywhere this bill has been 3 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Feb 4, 2010

Referred to the Subcommittee on Finance and Tax.

Feb 4, 2010

Referred to the House Committee on Small Business.

Feb 4, 2010

Introduced in House

Plain-English summary Congressional Research Service

Express Loans Improvements Act of 2009 - Amends provisions of the Small Business Act relating to the Express Loan Program (Program) to: (1) increase (for a two-year period) from 50% to 75% the maximum percentage of Program loans that may be guaranteed by the Small Business Administration (SBA); (2) make such percentage 60% after such two-year period; and (3) increase from $350,000 to $1 million the maximum Program loan amount.

Directs the SBA Administrator to: (1) issue regulations with respect to Program loan and lender eligibility and collateral requirements that minimize federal risk of loss; and (2) report annually to the congressional small business committees describing Program implementation, including actions taken to reduce default rates.

What's happening now February 4, 2010

Referred to the Subcommittee on Finance and Tax.

Committees of jurisdiction 2