3.0.0 7903 2023-01-11T13:44:04Z 2023-01-11T13:44:04Z House HR 2020-07-31 116 [Congressional Record Volume 166, Number 136 (Friday, July 31, 2020)][House]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Ms. JUDY CHU of California:H.R. 7903.Congress has the power to enact this legislation pursuantto the following:Art. 1, Sec. 8 ``The Congress shall have Power To lay andcollect Taxes, Duties, Imposts and Excises, to pay the Debtsand provide for the common Defence and general Welfare of theUnited States.''[Page H4214]]]> sssb00 Small Business and Entrepreneurship Committee Senate Standing Referred to 2020-12-07T21:31:18Z hssm00 Small Business Committee House Standing Markup by 2020-09-16T17:28:33Z Referred to 2020-07-31T13:00:40Z Closing the Credit Gap Act 116 2361 S 2019-07-31 Read twice and referred to the Committee on Small Business and Entrepreneurship. (Sponsor introductory remarks on measure: CR S5253) Related bill CRS 2020-12-07 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 2020-12-03 15:23:40 Motion to reconsider laid on the table Agreed to without objection. Floor H38310 2 House floor actions 2020-12-03 15:23:36 On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H6068-6070) Floor H37300 2 House floor actions 2020-12-03 15:23:36 Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.(text: CR H6068-6070) Floor 8000 9 Library of Congress 2020-12-03 15:04:42 DEBATE - The House proceeded with forty minutes of debate on H.R. 7903. Floor H8D000 2 House floor actions 2020-12-03 15:04:40 Considered under suspension of the rules. (consideration: CR H6068-6072) Floor H30000 2 House floor actions 2020-12-03 15:04:20 Ms. Velazquez moved to suspend the rules and pass the bill, as amended. Floor H30300 2 House floor actions 2020-09-16 hssm00 Small Business Committee 1 House committee actions Ordered to be Reported (Amended) by Voice Vote. Committee 2020-09-16 hssm00 Small Business Committee 1 House committee actions Committee Consideration and Mark-up Session Held. Committee 2020-07-31 Referred to the House Committee on Small Business. IntroReferral H11100 2 House floor actions hssm00 Small Business Committee 2020-07-31 Introduced in House IntroReferral Intro-H 9 Library of Congress 2020-07-31 Introduced in House IntroReferral 1000 9 Library of Congress C001080 Rep. Chu, Judy [D-CA-27] Judy Chu D CA 27 N S001210 Rep. Spano, Ross [R-FL-15] Ross Spano R FL 15 2020-07-31 True P000616 Rep. Phillips, Dean [D-MN-3] Dean Phillips D MN 3 2020-09-11 False T000479 Rep. Taylor, Van [R-TX-3] Van Taylor R TX 3 2020-12-02 False Commerce Bank accounts, deposits, capital Banking and financial institutions regulation Congressional oversight Economic development Economic performance and conditions Government information and archives Government lending and loan guarantees Government studies and investigations Interest, dividends, interest rates Minority and disadvantaged businesses Performance measurement Public-private cooperation Rural conditions and development Small Business Administration Small business Commerce 00 2020-07-31 Introduced in House 2020-09-10T12:33:54Z This bill establishes through FY2025 a Community Advantage Loan Program under which the Small Business Administration (SBA) may guarantee loans made by covered institutions to small business concerns in underserved markets.

Specifically, the bill provides statutory authority for the Community Advantage Pilot Program (CA) and includes women and minorities as eligible groups for CA loans in addition to the other categories that are currently eligible. The bill requires at least 60% of loans made by a covered institution under the program be made to small business concerns in underserved markets, and it allows the SBA to waive the $250,000 cap on loan sizes up to $350,000. The bill further requires the SBA to provide both in-person and online training and technical assistance that is free or low-cost for covered institutions making loans under the program.

The SBA must establish a working group to develop recommendations for the SBA to effectively manage, support, and promote the program and its mission.

Lastly, the bill requires the Government Accountability Office to report on program outcomes.

]]> 53 2020-12-03 Passed House 2020-12-08T15:45:16Z This bill establishes through FY2025 a Community Advantage Loan Program under which the Small Business Administration (SBA) may guarantee loans made by covered institutions to small business concerns in underserved markets.

Specifically, the bill provides statutory authority for the Community Advantage Pilot Program (CA) and includes women and minorities as eligible groups for CA loans in addition to the other categories that are currently eligible. The bill requires at least 75% of loans made by a covered institution under the program be made to small business concerns in underserved markets, and it allows the SBA to waive the $250,000 cap on loan sizes up to $350,000. The bill further requires the SBA to provide both in-person and online training and technical assistance that is free or low-cost for covered institutions making loans under the program.

The SBA must establish a working group to develop recommendations for the SBA to effectively manage, support, and promote the program and its mission.

Lastly, the bill requires the Government Accountability Office to report on program outcomes.

]]> To amend the Small Business Act to establish the Community Advantage Loan Program. Display Title To amend the Small Business Act to establish the Community Advantage Loan Program. Official Title as Introduced To amend the Small Business Act to establish the Community Advantage Loan Program. Engrossed in House EH Referred in Senate 2020-12-07T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-116hr7903rfs/xml/BILLS-116hr7903rfs.xml Engrossed in House 2020-12-03T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-116hr7903eh/xml/BILLS-116hr7903eh.xml Introduced in House 2020-07-31T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-116hr7903ih/xml/BILLS-116hr7903ih.xml 2020-12-07 Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship. 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.