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Bill117th CongressFiled Mar 2, 2021Commerce
H.R. 1482

504 Credit Risk Management Improvement Act of 2021

Bill journey · stage 2 of 5

Under committee review

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What it doesSummary passed house (Apr 16, 2021)

504 Credit Risk Management Improvement Act of 2021

This bill revises the duties of the Office of Credit Risk Management to include oversight of a certified development company (CDC) that participates in the 504 Loan Program of the Small Business Administration (SBA), and it requires the SBA to issue rules related to certain environmental requirements. The 504 Loan Program provides a small business with SBA financing—through a CDC intermediary—for expansion or modernization.

Specifically, the bill requires the office to oversee any CDC that participates in the program and to conduct file reviews with respect to loan closings under the program. Further, the bill authorizes the office to take formal and informal enforcement actions against a CDC for specified violations and to charge each CDC a fee.

The SBA must issue rules to clarify the procedures necessary for an eligible CDC to comply with certain environmental requirements.

What just happenedApr 19, 2021

Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.

Who’s behind it

Rep. Bishop, Dan [R-NC-9](R-NC)Sponsor
5 cosponsors3 D2 R
Read on Congress.gov
5cosponsors2committees12actions1related bills9subjects
  1. Apr 19, 2021IntroReferral

    Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.

    Small Business and Entrepreneurship Committee
  2. Apr 16, 2021FloorH38310

    Motion to reconsider laid on the table Agreed to without objection.

  3. Apr 16, 2021FloorH37300

    On motion to suspend the rules and pass the bill Agreed to by the Yeas and Nays: (2/3 required): 411 - 8 (Roll no. 119). (text: 04/14/2021 CR H1772-1773)

  4. Apr 16, 2021Floor8000

    Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by the Yeas and Nays: (2/3 required): 411 - 8 (Roll no. 119).(text: 04/14/2021 CR H1772-1773)

  5. Apr 16, 2021FloorH30000

    Considered as unfinished business. (consideration: CR H1872-1873)

  6. Apr 14, 2021FloorH37220

    At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.

  7. Apr 14, 2021FloorH8D000

    DEBATE - The House proceeded with forty minutes of debate on H.R. 1482.

  8. Apr 14, 2021FloorH30000

    Considered under suspension of the rules. (consideration: CR H1772-1775)

  9. Apr 14, 2021FloorH30300

    Ms. Davids (KS) moved to suspend the rules and pass the bill.

  10. Mar 2, 2021IntroReferralH11100

    Referred to the House Committee on Small Business.

    Small Business Committee
  11. Mar 2, 2021IntroReferralIntro-H

    Introduced in House

  12. Mar 2, 2021IntroReferral1000

    Introduced in House

Passed HouseApr 16, 202153

504 Credit Risk Management Improvement Act of 2021

This bill revises the duties of the Office of Credit Risk Management to include oversight of a certified development company (CDC) that participates in the 504 Loan Program of the Small Business Administration (SBA), and it requires the SBA to issue rules related to certain environmental requirements. The 504 Loan Program provides a small business with SBA financing—through a CDC intermediary—for expansion or modernization.

Specifically, the bill requires the office to oversee any CDC that participates in the program and to conduct file reviews with respect to loan closings under the program. Further, the bill authorizes the office to take formal and informal enforcement actions against a CDC for specified violations and to charge each CDC a fee.

The SBA must issue rules to clarify the procedures necessary for an eligible CDC to comply with certain environmental requirements.

Introduced in HouseMar 2, 2021

504 Credit Risk Management Improvement Act of 2021

This bill revises the duties of the Office of Credit Risk Management to include oversight of a certified development company (CDC) that participates in the 504 Loan Program of the Small Business Administration (SBA), and it requires the SBA to issue rules related to certain environmental requirements. The 504 Loan Program provides a small business with SBA financing—through a CDC intermediary—for expansion or modernization.

Specifically, the bill requires the office to oversee any CDC that participates in the program and to conduct file reviews with respect to loan closings under the program. Further, the bill authorizes the office to take formal and informal enforcement actions against a CDC for specified violations and to charge each CDC a fee.

The SBA must issue rules to clarify the procedures necessary for an eligible CDC to comply with certain environmental requirements.

504 Credit Risk Management Improvement Act of 2021 — Informed