3.0.0 3191 2023-01-11T13:30:26Z 2023-01-11T13:30:26Z House HR 2015-07-23 114 [Congressional Record Volume 161, Number 116 (Thursday, July 23, 2015)]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. CHABOT:H.R. 3191.Congress has the power to enact this legislation pursuantto the following:Article 1, Section 8, Clause 3 of the United StatesConstiution[Page H5468]]]> hssm00 Small Business Committee House Standing Referred to 2015-07-23T14:04:35Z Veterans Entrepreneurship Act of 2015 114 2499 HR 2015-07-28 Became Public Law No: 114-38. Related bill CRS 2015-07-23 Referred to the House Committee on Small Business. IntroReferral H11100 2 House floor actions hssm00 Small Business Committee 2015-07-23 Introduced in House IntroReferral Intro-H 9 Library of Congress 2015-07-23 Introduced in House IntroReferral 1000 9 Library of Congress C000266 Rep. Chabot, Steve [R-OH-1] STEVE CHABOT R OH 1 N Commerce Congressional oversight Credit and credit markets Government lending and loan guarantees Small business Commerce 00 2015-07-23 Introduced in House 2015-10-13T14:08:31Z This bill amends the Consolidated and Further Continuing Appropriations Act, 2015 to increase from $18.75 billion to $23.5 billion the FY2015 funding available to the Small Business Administration (SBA) for general business loans authorized under section 7(a) of the Small Business Act.

The bill prohibits the SBA from guaranteeing a loan on and after October 1, 2015, if:

  • the lender determines that the borrower is unable to obtain credit elsewhere solely because the lender's liquidity depends upon the guaranteed portion of the loan being sold on the secondary market, or
  • the sole purpose for requesting the guarantee is to allow the lender to exceed its legal lending limit.

The bill also requires the SBA to submit quarterly reports to Congress regarding the loan programs carried out under this section.

]]> To amend the Consolidated and Further Continuing Appropriations Act, 2015 with respect to funding available for fiscal year 2015 for certain general business loans authorized under the Small Business Act, to amend the Small Business Act to modify loan limitations, and for other purposes. Display Title To amend the Consolidated and Further Continuing Appropriations Act, 2015 with respect to funding available for fiscal year 2015 for certain general business loans authorized under the Small Business Act, to amend the Small Business Act to modify loan limitations, and for other purposes. Official Title as Introduced To amend the Consolidated and Further Continuing Appropriations Act, 2015 with respect to funding available for fiscal year 2015 for certain general business loans authorized under the Small Business Act, to amend the Small Business Act to modify loan limitations, and for other purposes. Introduced in House IH Introduced in House 2015-07-23T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-114hr3191ih/xml/BILLS-114hr3191ih.xml 2015-07-23 Referred to the House Committee on Small Business. 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.