To adjust the real estate appraisal thresholds under the 7(a) program to bring them into line with the thresholds used by the Federal banking regulators, and for other purposes.
7(a) Real Estate Appraisal Harmonization Act
(Sec. 2) This bill amends the Small Business Act to revise the loan amount above which a real estate appraisal is required for a commercial real property securing a small business loan. Specifically, the bill ties the amount to the federal banking regulator appraisal threshold. (Currently, an appraisal is required for a loan of more than $250,000.)
By Senator Risch from Committee on Small Business and Entrepreneurship filed written report. Report No. 115-437.
Became Public Law No: 115-371.
Reported by the Committee on Small Business. H. Rept. 115-940.
Placed on the Union Calendar, Calendar No. 731.
Mr. Chabot moved to suspend the rules and pass the bill.
Considered under suspension of the rules. (consideration: CR H8803-8804)
DEBATE - The House proceeded with forty minutes of debate on H.R. 6347.
Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by voice vote.(text: CR H8803-8804)
On motion to suspend the rules and pass the bill Agreed to by voice vote. (text: CR H8803-8804)
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.
Senate Committee on Small Business and Entrepreneurship discharged by Unanimous Consent.(consideration: S7896-7897)
Senate Committee on Small Business and Entrepreneurship discharged by Unanimous Consent. (consideration: S7896-7897)
Enacted as Public Law 115-370
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Passed/agreed to in Senate: Passed Senate without amendment by Voice Vote.
Passed Senate without amendment by Voice Vote.
Message on Senate action sent to the House.
Presented to President.
Presented to President.
Signed by President.
Signed by President.
Became Public Law No: 115-370.
Became Public Law No: 115-370.