Amends the Small Business Act to temporarily authorize the Small Business Administration (SBA) to collect a fee for loan guarantees sold into the secondary market. Requires all fees so collected to be used solely to reduce the subsidy on such guaranteed loans. Applies such fees to loans sold into secondary markets after August 31, 1993. Authorizes the SBA to temporarily reduce the guarantee percentage of loans exceeding $155,000 and having a maturity period of more than ten years.
Directs the SBA to study, monitor, and evaluate the impact of amendments made by this Act on the ability of small businesses, and small businesses owned and controlled by minorities and women, to obtain financing and on the effectiveness, viability, and growth of the secondary loan market authorized under the Small Business Act. Requires a report.
Repeals provisions of this Act concerning reduced loan guarantees on September 30, 1996.
Became Public Law No: 103-81.
Introduced in House
Introduced in House
Referred to the House Committee on Small Business.
Committee Consideration and Mark-up Session Held.
Ordered to be Reported (Amended) by the Yeas and Nays: 29 - 4.
Mr. Lafalce moved to suspend the rules and pass the bill, as amended.
Considered under suspension of the rules. (consideration: CR H5582-5584)
DEBATE - The House proceeded with forty minutes of debate.
Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.
On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.
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.
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