A bill to amend the Small Business Act to adjust the real estate appraisal thresholds under the 7(a) program of the Small Business Administration to bring those thresholds into line with the thresholds used by the Federal banking regulators, and for other purposes.
7(a) Real Estate Appraisal Harmonization Act
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.)
Became Public Law No: 115-370.
Became Public Law No: 115-371.
Introduced in Senate
Read twice and referred to the Committee on Small Business and Entrepreneurship.
Committee on Small Business and Entrepreneurship. Ordered to be reported without amendment favorably.
Committee on Small Business and Entrepreneurship. Reported by Senator Risch without amendment. Without written report.
Committee on Small Business and Entrepreneurship. Reported by Senator Risch without amendment. Without written report.
Placed on Senate Legislative Calendar under General Orders. Calendar No. 632.
By Senator Risch from Committee on Small Business and Entrepreneurship filed written report. Report No. 115-437.
By Senator Risch from Committee on Small Business and Entrepreneurship filed written report. Report No. 115-437.
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