To amend title V of the Small Business Investment Act of 1958 to require an annual portfolio risk analysis of loans guaranteed under such title, and for other purposes.
504 Program Risk Oversight Act
This bill requires the Small Business Administration (SBA) to annually conduct a risk analysis of all loans guaranteed under the 504 loan program.
The 504 loan program provides long-term, fixed-rate financing to qualifying small businesses for major fixed assets, such as land, buildings, equipment, and machinery.
The SBA must annually report the results of the risk analysis for each preceding fiscal year, including the steps taken by the SBA to mitigate the risks identified in the analysis.
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 by the Yeas and Nays: 27 - 0.
Reported by the Committee on Small Business. H. Rept. 119-404.
Reported by the Committee on Small Business. H. Rept. 119-404.
Placed on the Union Calendar, Calendar No. 352.
Mr. Williams (TX) moved to suspend the rules and pass the bill.
Considered under suspension of the rules. (consideration: CR H932-934)
DEBATE - The House proceeded with forty minutes of debate on H.R. 5788.
Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by voice vote. (text: CR H933)
On motion to suspend the rules and pass the bill Agreed to by voice vote. (text: CR H933)
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.
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