H.R. 3191 · 114th Congress
To amend the Consolidated and Further Continuing Appropriations Act, 2015 with respect to funding available…
Full title
To amend the Consolidated and Further Continuing Appropriations Act, 2015 with respect to funding available for fiscal year 2015 for certain general business loans authorized under the Small Business Act, to amend the Small Business Act to modify loan limitations, and for other purposes.
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Never voted on. It didn't reach a floor vote before the 114th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
ChabotSponsorNo cosponsors.
This bill amends the Consolidated and Further Continuing Appropriations Act, 2015 to increase from $18.75 billion to $23.5 billion the FY2015 funding available to the Small Business Administration (SBA) for general business loans authorized under section 7(a) of the Small Business Act.
What it does: CRS summary · Introduced in House · Jul 23, 2015
This bill amends the Consolidated and Further Continuing Appropriations Act, 2015 to increase from $18.75 billion to $23.5 billion the FY2015 funding available to the Small Business Administration (SBA) for general business loans authorized under section 7(a) of the Small Business Act.
The bill prohibits the SBA from guaranteeing a loan on and after October 1, 2015, if:
- the lender determines that the borrower is unable to obtain credit elsewhere solely because the lender's liquidity depends upon the guaranteed portion of the loan being sold on the secondary market, or
- the sole purpose for requesting the guarantee is to allow the lender to exceed its legal lending limit.
The bill also requires the SBA to submit quarterly reports to Congress regarding the loan programs carried out under this section.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: To amend the Consolidated and Further Continuing Appropriations Act, 2015 with respect to funding available for fiscal year 2015 for certain general business loans authorized under the Small Business Act, to amend the Small Business Act to modify loan limitations, and for other purposes.
Latest action (Jul 23, 2015): Referred to the House Committee on Small Business.
Policy area: Commerce · Origin: House · Introduced: Jul 23, 2015
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.