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Bill116th CongressFiled Sep 11, 2020Commerce
H.R. 8199

504 Credit Risk Management Improvement Act of 2020

Bill journey · stage 2 of 5

Under committee review

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What it doesSummary passed house (Dec 3, 2020)

504 Credit Risk Management Improvement Act of 2020

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 happenedDec 7, 2020

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
2 cosponsors2 D
Read on Congress.gov
2cosponsors2committees12actions8subjects
  1. Dec 7, 2020IntroReferral

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

    Small Business and Entrepreneurship Committee
  2. Dec 3, 2020FloorH38310

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

  3. Dec 3, 2020FloorH37300

    On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H6076-6077)

  4. Dec 3, 2020Floor8000

    Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.(text: CR H6076-6077)

  5. Dec 3, 2020FloorH8D000

    DEBATE - The House proceeded with forty minutes of debate on H.R. 8199.

  6. Dec 3, 2020FloorH30000

    Considered under suspension of the rules. (consideration: CR H6076-6078)

  7. Dec 3, 2020FloorH30300

    Ms. Velazquez moved to suspend the rules and pass the bill, as amended.

  8. Sep 16, 2020Committee

    Ordered to be Reported by Voice Vote.

    Small Business Committee
  9. Sep 16, 2020Committee

    Committee Consideration and Mark-up Session Held.

    Small Business Committee
  10. Sep 11, 2020IntroReferralH11100

    Referred to the House Committee on Small Business.

    Small Business Committee
  11. Sep 11, 2020IntroReferralIntro-H

    Introduced in House

  12. Sep 11, 2020IntroReferral1000

    Introduced in House

Passed HouseDec 3, 202053

504 Credit Risk Management Improvement Act of 2020

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 HouseSep 11, 2020

504 Credit Risk Management Improvement Act of 2020

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 2020 — Informed