504 Credit Risk Management Improvement Act of 2020

Summary

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.

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

Timeline

1. 11 September 2020

   Introduced

   Referred to the House Committee on Small Business.

   Source: IntroReferral

2. 11 September 2020

   Introduced

   Introduced in House

   Source: IntroReferral

3. 11 September 2020

   Introduced

   Introduced in House

   Source: IntroReferral

4. 16 September 2020

   Reported

   Ordered to be Reported by Voice Vote.

   Source: Committee

5. 16 September 2020

   Committee

   Committee Consideration and Mark-up Session Held.

   Source: Committee

6. 3 December 2020

   Floor

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

   Source: Floor

7. 3 December 2020

   Passed

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

   Source: Floor

8. 3 December 2020

   Passed

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

   Source: Floor

9. 3 December 2020

   Passed

   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)

   Source: Floor

10. 3 December 2020

    Floor

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

    Source: Floor

11. 3 December 2020

    Floor

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

    Source: Floor

12. 7 December 2020

    Introduced

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

    Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Referred in Senate · 7 December 2020 · Official file
• Engrossed in House · 3 December 2020 · Official file
• Introduced in House · 11 September 2020 · Official file

Documents

8 official files

• Referred in Senate (text)

  Referred in Senate · EN · 7 December 2020

  ViewDownloadOpen at official source

• Referred in Senate (PDF)

  Referred in Senate · EN · 7 December 2020

  ViewDownloadOpen at official source

• Engrossed in House (text)

  Engrossed in House · EN · 3 December 2020

  ViewDownloadOpen at official source

• Engrossed in House (PDF)

  Engrossed in House · EN · 3 December 2020

  ViewDownloadOpen at official source

• Passed House

  summary · EN · 3 December 2020

  Open at official source

• Introduced in House (text)

  Introduced in House · EN · 11 September 2020

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 11 September 2020

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 11 September 2020

  Open at official source

Sponsors

• Dan Bishop · R · Sponsor
• Angie Craig · D · Sponsor
• Antonio Delgado · D · Cosponsor
• · sssb00 · Standing
• · hssm00 · Standing

Related records

• related to → 504 Credit Risk Management Improvement Act of 2021