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United States · Bill · HR

H.R. 2615 (106th)

To amend the Small Business Act to make improvements to the general business loan program, and for other purposes.

referredUnited States· United States Congress· EN

Introduced

27 July 1999

Last action

3 August 1999 · Introduced

Status

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

Sponsors

Sen. Talent, Jim [R-MO], Rep. Velázquez, Nydia M. [D-NY-7], Rep. Kelly, Sue W. [R-NY-19], Rep. Millender-McDonald, Juanita [D-CA-37], Rep. Davis, Danny K. [D-IL-7], Rep. Jones, Stephanie Tubbs [D-OH-11], Rep. Bono, Mary [R-CA-44], Rep. Berkley, Shelley [D-NV-1], Rep. Napolitano, Grace F. [D-CA-32], Rep. Hill, Rick [R-MT-At Large], Rep. Pascrell, Bill, Jr. [D-NJ-9], Rep. McCarthy, Carolyn [D-NY-4], Rep. Sweeney, John E. [R-NY-20], Rep. Combest, Larry [R-TX-19], Sen. DeMint, Jim [R-SC], Rep. LoBiondo, Frank A. [R-NJ-2], Rep. Baird, Brian [D-WA-3], Sen. Udall, Tom [D-NM]

Subjects

Discovery layer

Source updated

7 April 2025

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Summary

Amends the Small Business Act to authorize the Small Business Administration (SBA) to guarantee a general business loan made by a bank or other financial institution to a small business in the amount of: (1) 75 percent of the outstanding balance of such loan, if such balance exceeds $150,000 (currently $100,000); and (2) 80 percent of the outstanding balance of less than $150,000 (also currently $100,000). Prohibits any such loan from being made to a borrower if the total amount outstanding and committed to the borrower from the business loan and SBA investment funds would exceed $1 million (currently $750,000). Makes current provisions requiring the payment of accrued interest on defaulted guaranteed loans inapplicable to loans made on or after October 1, 1999. Requires a borrower who prepays any loan guaranteed by the SBA to remit to the SBA a subsidy recoupment (calculated under this Act) if: (1) the loan is for a period of less than 15 years; (2) the prepayment is voluntary; (3) the amount of prepayment in any calendar year is more than 25 percent of the outstanding loan balance; and (4) the prepayment is made within the first three years after disbursement of the loan proceeds. Revises loan guarantee fee amounts. Authorizes lenders participating in an SBA program to retain no more than 25 percent of such fee with respect to any loan not exceeding $150,000. Authorizes a borrower to permanently lease to one or more tenants not more than 20 percent of any property constructed using guaranteed loan proceeds, as long as the borrower permanently occupies and uses not less than 60 percent of the total business space in the property.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

  1. 27 July 1999

    Introduced

    Referred to the House Committee on Small Business.

    Source: IntroReferral

  2. 27 July 1999

    Introduced

    Introduced in House

    Source: IntroReferral

  3. 27 July 1999

    Introduced

    Introduced in House

    Source: IntroReferral

  4. 29 July 1999

    Reported

    Ordered to be Reported by Voice Vote.

    Source: Committee

  5. 29 July 1999

    Committee

    Committee Consideration and Mark-up Session Held.

    Source: Committee

  6. 2 August 1999

    Passed

    On motion to suspend the rules and pass the bill Agreed to by voice vote.

    Source: Floor

  7. 2 August 1999

    Passed

    Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by voice vote.

    Source: Floor

  8. 2 August 1999

    Floor

    DEBATE - The House proceeded with forty minutes of debate on H.R. 2615.

    Source: Floor

  9. 2 August 1999

    Floor

    Considered under suspension of the rules. (consideration: CR H6792-6796)

    Source: Floor

  10. 2 August 1999

    Floor

    Mr. Talent moved to suspend the rules and pass the bill.

    Source: Floor

  11. 2 August 1999

    Calendars

    Placed on the Union Calendar, Calendar No. 167.

    Source: Calendars

  12. 2 August 1999

    Reported

    Reported by the Committee on Small Business. H. Rept. 106-279.

    Source: Committee

  13. 2 August 1999

    Reported

    Reported by the Committee on Small Business. H. Rept. 106-279.

    Source: Committee

  14. 2 August 1999

    Passed

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

    Source: Floor

  15. 3 August 1999

    Introduced

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

    Source: IntroReferral

Votes

No vote records are attached yet.

Versions

Documents

10 official files

Referred in Senate (text)

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Leesvertaling

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  • Referred in Senate (text)

    Referred in Senate · EN · 3 August 1999

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  • Referred in Senate (PDF)

    Referred in Senate · EN · 3 August 1999

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  • Engrossed in House (text)

    Engrossed in House · EN · 2 August 1999

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  • Engrossed in House (PDF)

    Engrossed in House · EN · 2 August 1999

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  • Reported in House (text)

    Reported in House · EN · 2 August 1999

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  • Reported in House (PDF)

    Reported in House · EN · 2 August 1999

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  • Passed House amended

    summary · EN · 2 August 1999

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  • Introduced in House (text)

    Introduced in House · EN · 27 July 1999

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  • Introduced in House (PDF)

    Introduced in House · EN · 27 July 1999

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  • Introduced in House

    summary · EN · 27 July 1999

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Sponsors

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Sources

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