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HR 8199 116th Congress House Commerce Administrative law and regulatory procedures Administrative remedies Banking and financial institutions regulation Business records Financial services and investments Small Business Administration Small business User charges and fees

504 Credit Risk Management Improvement Act of 2020

Introduced: September 11, 2020 See on congress.gov
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 Everywhere this bill has been 11 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Dec 7, 2020
Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.
Dec 3, 2020
Motion to reconsider laid on the table Agreed to without objection.
Dec 3, 2020
On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H6076-6077)
Dec 3, 2020
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)
Dec 3, 2020
DEBATE - The House proceeded with forty minutes of debate on H.R. 8199.
Dec 3, 2020
Considered under suspension of the rules. (consideration: CR H6076-6078)
Dec 3, 2020
Ms. Velazquez moved to suspend the rules and pass the bill, as amended.
Sep 16, 2020
Ordered to be Reported by Voice Vote.
Sep 16, 2020
Committee Consideration and Mark-up Session Held.
Sep 11, 2020
Referred to the House Committee on Small Business.
Sep 11, 2020
Introduced in House
 Plain-English summary Congressional Research Service

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.

What's happening now December 7, 2020

Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.

 Committees of jurisdiction 2
 Cosponsors 1
All 1 Democratic 1