3.0.0 923 2023-01-15T22:03:56Z 2023-01-15T22:03:56Z House H HR 2003-02-26 108 sssb00 Small Business and Entrepreneurship Committee Senate Standing Discharged from 2004-05-18T22:32:44Z Referred to 2003-06-25T19:50:15Z hssm00 Small Business Committee House Standing Reported by 2003-06-12T19:35:00Z Markup by 2003-05-22T14:03:08Z Referred to 2003-02-26T18:01:35Z H. Rept. 108-153 2004-05-28 Became Public Law No: 108-232. President E40000 2 House floor actions 2004-05-28 Became Public Law No: 108-232. BecameLaw 36000 9 Library of Congress 2004-05-28 Signed by President. President E30000 2 House floor actions 2004-05-28 Signed by President. BecameLaw 36000 9 Library of Congress 2004-05-20 Presented to President. Floor E20000 2 House floor actions 2004-05-20 Presented to President. President 28000 9 Library of Congress 2004-05-19 Senate Message on Senate action sent to the House. Floor 2004-05-18 Senate Passed Senate without amendment by Unanimous Consent. Floor 2004-05-18 Passed/agreed to in Senate: Passed Senate without amendment by Unanimous Consent. Floor 17000 9 Library of Congress 2004-05-18 sssb00 Small Business and Entrepreneurship Committee Senate Senate Committee on Small Business and Entrepreneurship discharged by Unanimous Consent. (consideration: CR S5726-5727) Discharge 2004-05-18 Senate Committee on Small Business and Entrepreneurship discharged by Unanimous Consent.(consideration: CR S5726-5727) Committee 14500 9 Library of Congress sssb00 Small Business and Entrepreneurship Committee 2003-06-25 sssb00 Small Business and Entrepreneurship Committee Senate Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship. IntroReferral 2003-06-24 13:18:27 Motion to reconsider laid on the table Agreed to without objection. Floor H38310 2 House floor actions 2003-06-24 13:18:26 On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 416 - 3 (Roll no. 303). (text: CR H5724-5725) Floor H37300 2 House floor actions 303 https://clerk.house.gov/evs/2003/roll303.xml House 108 2003-06-24T17:18:26Z 1 2003-06-24 13:18:26 Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 416 - 3 (Roll no. 303).(text: CR H5724-5725) Floor 8000 9 Library of Congress 303 https://clerk.house.gov/evs/2003/roll303.xml House 108 2003-06-24T17:18:26Z 1 2003-06-24 13:11:56 Considered as unfinished business. (consideration: CR H5742-5743) Floor H30000 2 House floor actions 2003-06-24 10:48:55 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. Floor H37220 2 House floor actions 2003-06-24 10:36:11 DEBATE - The House proceeded with forty minutes of debate on H.R. 923. Floor H8D000 2 House floor actions 2003-06-24 10:36:09 Considered under suspension of the rules. (consideration: CR H5724-5727) Floor H30000 2 House floor actions 2003-06-24 10:35:49 Mr. Manzullo moved to suspend the rules and pass the bill, as amended. Floor H30300 2 House floor actions 2003-06-12 Placed on the Union Calendar, Calendar No. 75. Calendars H12410 2 House floor actions U00075 2003-06-12 Reported (Amended) by the Committee on Small Business. H. Rept. 108-153. Committee H12200 2 House floor actions hssm00 Small Business Committee 2003-06-12 Reported (Amended) by the Committee on Small Business. H. Rept. 108-153. Committee 5000 9 Library of Congress hssm00 Small Business Committee 2003-05-22 hssm00 Small Business Committee 1 House committee actions Ordered to be Reported (Amended) by Voice Vote. Committee 2003-05-22 hssm00 Small Business Committee 1 House committee actions Committee Consideration and Mark-up Session Held. Committee 2003-02-26 Referred to the House Committee on Small Business. IntroReferral H11100 2 House floor actions hssm00 Small Business Committee 2003-02-26 Introduced in House IntroReferral Intro-H 9 Library of Congress 2003-02-26 Introduced in House IntroReferral 1000 9 Library of Congress D000429 Rep. Doolittle, John T. [R-CA-4] JOHN DOOLITTLE R CA T. 4 N 2003-06-05T04:00:00Z H.R. 923, Premier Certified Lenders Program Improvement Act of 2003 http://www.cbo.gov/publication/14513 <p>Cost estimate for the bill as ordered reported by the House Committee on Small Business on May 22, 2003</p> 2003-06-05T04:00:00Z H.R. 923, Premier Certified Lenders Program Improvement Act of 2003 https://www.cbo.gov/publication/14513 Cost estimate for the bill as ordered reported by the House Committee on Small Business on May 22, 2003 Public Law 108-232 Commerce Auditing Bank reserves Community development banking Congress Congressional reporting requirements Corporate finance Economics and Public Finance Executive reorganization Federally-guaranteed loans Finance and Financial Sector Government Operations and Politics Governmental investigations Loan defaults Loans Losses Small Business Administration Small business Commerce 00 2003-02-26 Introduced in House 2006-11-28T17:35:40Z 17 2003-06-12 Reported to House with amendment(s) 2006-11-28T17:35:40Z Makes loss reserve requirements of lenders under the premier certified lenders (PCL) program inapplicable to PCLs that ensure that the amount of their loss reserve is: (1) not less than $100,000; and (2) sufficient, as determined by an independent auditor, for the PCL to meet its obligations to protect the Federal Government from risk of loss. Designates such PCLs as qualified high loss reserve PCLs. Requires such PCLs to certify quarterly to the SBA Administrator as to the sufficiency of such reserves. Requires: (1) the Administrator to allow the qualified high loss reserve PCL to withdraw funds in excess of the required reserve; (2) PCL recontribution when the reserve does not meet such minimum requirements; and (3) the PCL to meet specified SBA risk management benchmarks when not qualified as a high loss reserve PCL.

Establishes in the SBA the Bureau of PCLP Oversight to carry out PCL Program functions designated by the Administrator.

Increases the reimbursement required from a PCL to the Administrator for losses sustained by the SBA as a result of PCL default on debentures issued by the PCL and guaranteed by the SBA during any period in which the PCL elects to operate under the alternative loss reserve requirements of this Act to 15 percent of the total principal and interest on such debentures. (Currently, ten percent reimbursement is required when a PCL is operating under normal loss reserve requirements.)

Directs the Administrator to contract with either a Federal agency experienced in community development lending and financial regulation or a member of the Federal Financial Institutions Examination Council to study and prepare a report regarding: (1) the extent to which statutory requirements have caused overcapitalization in the loss reserves maintained by certified PCLs participating in the PCL Program; and (2) alternatives for establishing and maintaining loss reserves sufficient to protect the Federal Government from the risk of loss associated with loans guaranteed under the Program. Requires the report to be transmitted to the congressional small business committees.]]>

36 2003-06-24 Passed House amended 2003-09-02T20:39:43Z (This measure has not been amended since it was reported to the House on June 12, 2003. The summary of that version is repeated here.)

Premier Certified Lenders Program Improvement Act of 2003 - Amends the Small Business Investment Act of 1958 to direct the Administrator of the Small Business Administration (SBA) to allow a certified development company to withdraw from its loss reserve amounts in excess of one percent of the aggregate outstanding balances of debentures to which such loss reserve relates (with an exception).

Makes loss reserve requirements of lenders under the premier certified lenders (PCL) program inapplicable to PCLs that ensure that the amount of their loss reserve is: (1) not less than $100,000; and (2) sufficient, as determined by an independent auditor, for the PCL to meet its obligations to protect the Federal Government from risk of loss. Designates such PCLs as qualified high loss reserve PCLs. Requires such PCLs to certify quarterly to the SBA Administrator as to the sufficiency of such reserves. Requires: (1) the Administrator to allow the qualified high loss reserve PCL to withdraw funds in excess of the required reserve; (2) PCL recontribution when the reserve does not meet such minimum requirements; and (3) the PCL to meet specified SBA risk management benchmarks when not qualified as a high loss reserve PCL.

Establishes in the SBA the Bureau of PCLP Oversight to carry out PCL Program functions designated by the Administrator.

Increases the reimbursement required from a PCL to the Administrator for losses sustained by the SBA as a result of PCL default on debentures issued by the PCL and guaranteed by the SBA during any period in which the PCL elects to operate under the alternative loss reserve requirements of this Act to 15 percent of the total principal and interest on such debentures. (Currently, ten percent reimbursement is required when a PCL is operating under normal loss reserve requirements.)

Directs the Administrator to contract with either a Federal agency experienced in community development lending and financial regulation or a member of the Federal Financial Institutions Examination Council to study and prepare a report regarding: (1) the extent to which statutory requirements have caused overcapitalization in the loss reserves maintained by certified PCLs participating in the PCL Program; and (2) alternatives for establishing and maintaining loss reserves sufficient to protect the Federal Government from the risk of loss associated with loans guaranteed under the Program. Requires the report to be transmitted to the congressional small business committees.]]>

82 2004-05-18 Passed Senate without amendment 2004-07-09T18:25:06Z (This measure has not been amended since it was reported to the House on June 12, 2003. The summary of that version is repeated here.)

Premier Certified Lenders Program Improvement Act of 2003 - Amends the Small Business Investment Act of 1958 to direct the Administrator of the Small Business Administration (SBA) to allow a certified development company to withdraw from its loss reserve amounts in excess of one percent of the aggregate outstanding balances of debentures to which such loss reserve relates (with an exception).

Makes loss reserve requirements of lenders under the premier certified lenders (PCL) program inapplicable to PCLs that ensure that the amount of their loss reserve is: (1) not less than $100,000; and (2) sufficient, as determined by an independent auditor, for the PCL to meet its obligations to protect the Federal Government from risk of loss. Designates such PCLs as qualified high loss reserve PCLs. Requires such PCLs to certify quarterly to the SBA Administrator as to the sufficiency of such reserves. Requires: (1) the Administrator to allow the qualified high loss reserve PCL to withdraw funds in excess of the required reserve; (2) PCL recontribution when the reserve does not meet such minimum requirements; and (3) the PCL to meet specified SBA risk management benchmarks when not qualified as a high loss reserve PCL.

Establishes in the SBA the Bureau of PCLP Oversight to carry out PCL Program functions designated by the Administrator.

Increases the reimbursement required from a PCL to the Administrator for losses sustained by the SBA as a result of PCL default on debentures issued by the PCL and guaranteed by the SBA during any period in which the PCL elects to operate under the alternative loss reserve requirements of this Act to 15 percent of the total principal and interest on such debentures. (Currently, ten percent reimbursement is required when a PCL is operating under normal loss reserve requirements.)

Directs the Administrator to contract with either a Federal agency experienced in community development lending and financial regulation or a member of the Federal Financial Institutions Examination Council to study and prepare a report regarding: (1) the extent to which statutory requirements have caused overcapitalization in the loss reserves maintained by certified PCLs participating in the PCL Program; and (2) alternatives for establishing and maintaining loss reserves sufficient to protect the Federal Government from the risk of loss associated with loans guaranteed under the Program. Requires the report to be transmitted to the congressional small business committees.]]>

49 2004-05-28 Public Law 2004-07-09T18:24:23Z (This measure has not been amended since it was reported to the House on June 12, 2003. The summary of that version is repeated here.)

Premier Certified Lenders Program Improvement Act of 2003 - Amends the Small Business Investment Act of 1958 to direct the Administrator of the Small Business Administration (SBA) to allow a certified development company to withdraw from its loss reserve amounts in excess of one percent of the aggregate outstanding balances of debentures to which such loss reserve relates (with an exception).

Makes loss reserve requirements of lenders under the premier certified lenders (PCL) program inapplicable to PCLs that ensure that the amount of their loss reserve is: (1) not less than $100,000; and (2) sufficient, as determined by an independent auditor, for the PCL to meet its obligations to protect the Federal Government from risk of loss. Designates such PCLs as qualified high loss reserve PCLs. Requires such PCLs to certify quarterly to the SBA Administrator as to the sufficiency of such reserves. Requires: (1) the Administrator to allow the qualified high loss reserve PCL to withdraw funds in excess of the required reserve; (2) PCL recontribution when the reserve does not meet such minimum requirements; and (3) the PCL to meet specified SBA risk management benchmarks when not qualified as a high loss reserve PCL.

Establishes in the SBA the Bureau of PCLP Oversight to carry out PCL Program functions designated by the Administrator.

Increases the reimbursement required from a PCL to the Administrator for losses sustained by the SBA as a result of PCL default on debentures issued by the PCL and guaranteed by the SBA during any period in which the PCL elects to operate under the alternative loss reserve requirements of this Act to 15 percent of the total principal and interest on such debentures. (Currently, ten percent reimbursement is required when a PCL is operating under normal loss reserve requirements.)

Directs the Administrator to contract with either a Federal agency experienced in community development lending and financial regulation or a member of the Federal Financial Institutions Examination Council to study and prepare a report regarding: (1) the extent to which statutory requirements have caused overcapitalization in the loss reserves maintained by certified PCLs participating in the PCL Program; and (2) alternatives for establishing and maintaining loss reserves sufficient to protect the Federal Government from the risk of loss associated with loans guaranteed under the Program. Requires the report to be transmitted to the congressional small business committees.]]>

Premier Certified Lenders Program Improvement Act of 2004 Display Title Premier Certified Lenders Program Improvement Act of 2004 Official Title as Introduced To amend the Small Business Investment Act of 1958 to allow certain premier certified lenders to elect to maintain an alternative loss reserve. Introduced in House IH Short Titles as Passed House Premier Certified Lenders Program Improvement Act of 2003 H House Short Titles as Introduced Premier Certified Lenders Program Improvement Act of 2002 Short Titles as Enacted Premier Certified Lenders Program Improvement Act of 2004 Short Titles as Passed Senate Premier Certified Lenders Program Improvement Act of 2003 S Senate Short Titles as Reported to House Premier Certified Lenders Program Improvement Act of 2003 H House Enrolled Bill Referred in Senate 2003-06-25T04:00:00Z Engrossed in House 2003-06-24T04:00:00Z Reported in House 2003-06-12T04:00:00Z Introduced in House 2003-02-26T05:00:00Z 2004-05-29T03:59:59Z https://www.govinfo.gov/content/pkg/PLAW-108publ232/xml/PLAW-108publ232.xml Public Law 2004-05-28 Became Public Law No: 108-232. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.