504 Credit Risk Management Improvement Act of 2020
Latest action · Dec 7, 2020 Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedSep 11, 2020
- Passed HouseDec 3, 2020
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
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.
Cosponsors 2
Members who signed on, in the order they did. Signatures ran from Sep 11, 2020 to Sep 29, 2020; 1 is an original cosponsor, there from the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-MN | Angie Craig | Original | Sep 11, 2020 |
| D-NY | Antonio Delgado | Sep 29, 2020 |
Committees 2
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| House | Small Business Committee | Referred Sep 11, 2020Markup Sep 16, 2020 |
| Senate | Small Business and Entrepreneurship Committee | Referred Dec 7, 2020 |
Actions 10
Everything that happened, newest first.
- Dec 7, 2020Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.
- Dec 3, 2020Ms. Velazquez moved to suspend the rules and pass the bill, as amended.
- Dec 3, 2020Considered under suspension of the rules. (consideration: CR H6076-6078)
- Dec 3, 2020DEBATE - The House proceeded with forty minutes of debate on H.R. 8199.
- Dec 3, 2020Passed/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)
- Dec 3, 2020Motion to reconsider laid on the table Agreed to without objection.
- Sep 16, 2020Committee Consideration and Mark-up Session Held.
- Sep 16, 2020Ordered to be Reported by Voice Vote.
- Sep 11, 2020Introduced in House
- Sep 11, 2020Referred to the House Committee on Small Business.
In the Congressional Record 1
Days the Record’s own index lists this bill, newest first, with the pages and the members it names. Pages starting H are the House, S the Senate, E Extensions of Remarks.
| Where | In the Record | Members | Date |
|---|---|---|---|
| House | Debate and remarks H6076–H6078Text printed H6076Notices H6138Estimated budget effects of H.R. 8199, 504 Credit Risk Management Improvement Act | Dan Bishop R-NC, John A. Yarmuth D-KY, Nydia M. Velázquez D-NY, Steve Chabot R-OH | Dec 3, 2020 |
Research
What has been written about this bill: committee reports, cost estimates, the sponsor’s authority statement, printed hearings and the Congressional Research Service’s work.
Constitutional authority
The sponsor’s statement, as printed in the Congressional Record, vol. 166, no. 157, September 11, 2020, page H4337.
Printed hearings 1
Hearings whose printed record names this bill, newest first: hearings on it, and wider hearings where it came up.
| Number | Hearing | Committee | Held |
|---|---|---|---|
| Serial No. 116-093 | MARKUP OF: H.R. 7903, "TO AMEND THE SMALL BUSINESS ACT TO ESTABLISH THE COMMUNITY ADVANTAGE LOAN PROGRAM" H.R. 8211, "504 MODERNIZATION AND SMALL MANUFACTURER ENHANCEMENT ACT OF 2020" H.R. 8199, "504 CREDIT RISK MANAGEMENT IMPROVEMENT ACT OF 2020" H.R. 8229, "PARITY FOR HUBZONE APPEALS ACT OF 2020"78 pages | Small Business Committee | Sep 16, 2020 |
Related bills 1
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| HR 1482 | 504 Credit Risk Management Improvement Act of 2021 | Reintroduced Bill | Apr 19, 2021 |
Titles 4
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- To amend the Small Business Act to enhance the Office of Credit Risk Management, to require the Administrator of the Small Business Administration to issue rules relating to environmental obligations of certified development companies, and for other purposes.
- Short Title(s) as Introduced
- 504 Credit Risk Management Improvement Act of 2020
- Short Title(s) as Passed House
- 504 Credit Risk Management Improvement Act of 2020
- Short Titles from RFS (Referred to Senate) bill text
- 504 Credit Risk Management Improvement Act of 2020
Subjects
Assigned by the Library of Congress. Policy area: Commerce.
Text 3
Each version as it was printed, newest first.
- Dec 7, 2020Referred in Senate
- Dec 3, 2020Engrossed in House
- Sep 11, 2020Introduced in House
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.
