WASHINGTON - Today, the U.S. House of Representatives passed four Small Business Committee bipartisan bills that would enhance U.S. Small Business Administration (SBA) lending and contracting programs.
“As our nation’s small businesses remain in a precarious situation, it is critical that we ensure the federal government’s small business programs meet their needs,” said Committee Ranking Member Steve Chabot (R-OH).“I thank my colleagues for their leadership on these issues and their willingness to work in a bipartisan manner.”
H.R. 8199, “504 Credit Risk Management Improvement Act” – introduced by Rep. Dan Bishop (R-NC) and Rep. Angie Craig (D-MN)
H.R. 8199 increases the responsibilities of the Small Business Administration Office of Credit Risk Management as it oversees the SBA’s 504/CDC Loan Program and defines enforcement actions that can be taken for violations of the SBA’s rules and regulations.In addition, the bill requires the SBA clarify procedures necessary for a certified development company to comply with the National Environmental Policy Act.
H.R. 8229, the “Parity for HUBZone Appeals Act” – introduced by Rep. Aumua Amata Coleman Radewagen (R-AS) and Rep. Chrissy Houlahan (D-PA)
H.R. 8229 requires the SBA Administrator to issue a rule authorizing the Office of Hearings and Appeals to decide appeals relating to the status of HUBZone business concerns.
H.R. 8211, “504 Modernization and Small Manufacturer Enhancement Act” – introduced by Rep. Angie Craig (D-MN) and Rep. Steve Chabot (R-OH)
H.R. 8211 streamlines the SBA’s 504 loan program closing process and enhances the program for small manufacturers.
H.R. 7903, “To amend the Small Business Act to establish the Community Advantage Loan Program” – introduced by Rep. Judy Chu (D-CA) and Rep. Ross Spano (R-FL)
H.R. 7903 authorizes the SBA’s Community Advantage Loan Program for 5 years.