House Bill 1482
117th Congress(2021-2022)
504 Credit Risk Management Improvement Act of 2021
Active
Active
Passed House on Apr 16, 2021
Overview
Text
Sponsor
Introduced
Mar 2, 2021
Latest Action
Apr 19, 2021
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
1482
Congress
117
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
California
Minnesota
Tennessee
Passed
April 16, 2021
Type
Final Passage Under Suspension Of The Rules Results
House Roll Call Votes
Summary

504 Credit Risk Management Improvement Act of 2021

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)
April 19, 2021
April 16, 2021
March 2, 2021
Actions (11)
04/19/2021
Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.
04/16/2021
Motion to reconsider laid on the table Agreed to without objection.
04/16/2021
On motion to suspend the rules and pass the bill Agreed to by the Yeas and Nays: (2/3 required): 411 - 8 (Roll no. 119). (text: 04/14/2021 CR H1772-1773)
04/16/2021
Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by the Yeas and Nays: (2/3 required): 411 - 8 (Roll no. 119).(text: 04/14/2021 CR H1772-1773)
04/16/2021
Considered as unfinished business. (consideration: CR H1872-1873)
04/14/2021
At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.
04/14/2021
DEBATE - The House proceeded with forty minutes of debate on H.R. 1482.
04/14/2021
Considered under suspension of the rules. (consideration: CR H1772-1775)
04/14/2021
Ms. Davids (KS) moved to suspend the rules and pass the bill.
03/02/2021
Referred to the House Committee on Small Business.
03/02/2021
Introduced in House
Public Record
Record Created
Mar 3, 2021 8:12:12 AM
Record Updated
Jul 29, 2021 3:19:10 PM