7(a) Real Estate Appraisal Harmonization Act

Fact Sheet API

Bill Number

S 3552

Introduced

Oct 5, 2018

Latest Action

By Senator Risch from Committee on Small Business and Entrepreneurship filed written report. Report No. 115-437.

Sponsor

Cosponsors

Topics

Banking and financial institutions regulation Finance and Financial Sector Housing finance and home ownership Small business

Full Text

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Votes

Summary

7(a) Real Estate Appraisal Harmonization Act

This bill amends the Small Business Act to revise the loan amount above which a real estate appraisal is required for a commercial real property securing a small business loan. Specifically, the bill ties the amount to the federal banking regulator appraisal threshold. (Currently, an appraisal is required for a loan of more than $250,000.)

Actions

Dec 19, 2018

By Senator Risch from Committee on Small Business and Entrepreneurship filed written report. Report No. 115-437.
Oct 11, 2018

Placed on Senate Legislative Calendar under General Orders. Calendar No. 632.
Oct 11, 2018

Committee on Small Business and Entrepreneurship. Reported by Senator Risch without amendment. Without written report.
Oct 11, 2018

Committee on Small Business and Entrepreneurship. Ordered to be reported without amendment favorably.
Oct 5, 2018

Read twice and referred to the Committee on Small Business and Entrepreneurship.
Oct 5, 2018

Introduced in Senate

Amendments

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