House Bill 8199
116th Congress(2019-2020)
504 Credit Risk Management Improvement Act of 2020
Active
Active
Passed House on Dec 3, 2020
Overview
Text
Sponsor
Introduced
Sep 11, 2020
Latest Action
Dec 7, 2020
Origin Chamber
House
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
8199
Congress
116
Policy Area
Commerce
Commerce
Primary focus of measure is business investment, development, regulation; small business; consumer affairs; competition and restrictive trade practices; manufacturing, distribution, retail; marketing; intellectual property. Measures concerning international competitiveness and restrictions on imports and exports may fall under Foreign Trade and International Finance policy area.
Sponsorship by Party
North Carolina
Minnesota
Passed
December 3, 2020
Type
Voice Vote
Voice Vote
A vote in which the presiding officer states the question, then asks those in favor and against to say "Yea" or "Nay," respectively, and announces the result according to his or her judgment. The names or numbers of senators voting on each side are not recorded.
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)
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.

Text (3)
December 7, 2020
December 3, 2020
September 11, 2020
Actions (11)
12/07/2020
Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.
12/03/2020
Motion to reconsider laid on the table Agreed to without objection.
12/03/2020
On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H6076-6077)
12/03/2020
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)
12/03/2020
DEBATE - The House proceeded with forty minutes of debate on H.R. 8199.
12/03/2020
Considered under suspension of the rules. (consideration: CR H6076-6078)
12/03/2020
Ms. Velazquez moved to suspend the rules and pass the bill, as amended.
09/16/2020
Ordered to be Reported by Voice Vote.
09/16/2020
Committee Consideration and Mark-up Session Held.
09/11/2020
Referred to the House Committee on Small Business.
09/11/2020
Introduced in House
Public Record
Record Created
Sep 12, 2020 7:12:10 AM
Record Updated
Jul 10, 2021 8:18:48 PM