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House Bill 6348
115th Congress(2017-2018)
Small Business ACE Act
Became Law
Became Law
Became Public Law 115-371 on Dec 21, 2018
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H. R. 6348 (Enrolled-Bill)
H. R. 6348


One Hundred Fifteenth Congress of theUnited States of America

AT THE SECOND SESSION

Begun and held at the City of Washington on Wednesday,
the third day of January, two thousand and eighteen

an act

    To adjust the real estate appraisal thresholds under the section 504 program to bring them into line with the thresholds used by the Federal banking regulators, and for other purposes.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. Short title.

This Act may be cited as the “Small Business Access to Capital and Efficiency Act” or the “Small Business ACE Act”.

SEC. 2. Appraisal thresholds.

Section 502(3)(E)(ii) of the Small Business Investment Act of 1958 (15 U.S.C. 696(3)(E)(ii)) is amended—

(1) by redesignating subclauses (I) and (II) as items (aa) and (bb), respectively, and adjusting the margins of such items accordingly;

(2) by striking “With respect to” and inserting the following:

        “(I) IN GENERAL.—With respect to”;

(3) in item (aa), as so redesignated, by striking “is more than $250,000” and inserting “is more than the Federal banking regulator appraisal threshold”;

(4) in item (bb), as so redesignated, by striking “is $250,000 or less” and inserting “is equal to or less than the Federal banking regulator appraisal threshold”; and

(5) by adding at the end the following:

        “(II) FEDERAL BANKING REGULATOR APPRAISAL THRESHOLD DEFINED.—For purposes of this clause, the term ‘Federal banking regulator appraisal threshold’ means the lesser of the threshold amounts set by the Board of Governors of the Federal Reserve System, the Comptroller of the Currency, and the Federal Deposit Insurance Corporation for when a federally related transaction that is a commercial real estate transaction requires an appraisal prepared by a State licensed or certified appraiser.”.

Attest:





Speaker of the House of Representatives.  

Attest:





Vice President of the United States and   
President of the Senate.