Amends the Small Business Act to increase the fine from $5,000 to $50,000 and the term of imprisonment from two years to five years for individuals who overvalue any security or make false statements to the United States (currently to the Small Business Administration) for the purpose of obtaining a loan, contract, or subcontract under such Act.
Introduced in House
Introduced in House
Referred to House Committee on Small Business.
Referred to Subcommittee on SBA & SBIC Authority, Minority Enterprise, and General Small Business Problems.
Subcommittee Hearings Held.
checking server…
Ask anything about this bill. The AI reads the full text to answer.
Enter to send · Shift+Enter for new line