3.0.0 8211 2023-01-11T13:44:04Z 2023-01-11T13:44:04Z House HR 2020-09-11 116 [Congressional Record Volume 166, Number 157 (Friday, September 11, 2020)][House]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Ms. CRAIG:H.R. 8211.Congress has the power to enact this legislation pursuantto the following:Article I, Section 8, Clause 1``The Congress shall have Power to . . . provide for the .. . general Welfare of the United States; . . .''[Page H4337]]]> sssb00 Small Business and Entrepreneurship Committee Senate Standing Referred to 2020-12-07T23:54:06Z hssm00 Small Business Committee House Standing Markup by 2020-09-16T17:29:33Z Referred to 2020-09-11T17:03:00Z 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 15:37:25 Motion to reconsider laid on the table Agreed to without objection. Floor H38310 2 House floor actions 2020-12-03 15:37:22 On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H6072-6075) Floor H37300 2 House floor actions 2020-12-03 15:37:22 Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.(text: CR H6072-6075) Floor 8000 9 Library of Congress 2020-12-03 15:27:35 DEBATE - The House proceeded with forty minutes of debate on H.R. 8211. Floor H8D000 2 House floor actions 2020-12-03 15:27:32 Considered under suspension of the rules. (consideration: CR H6072-6076) Floor H30000 2 House floor actions 2020-12-03 15:26:55 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 2020-09-11 Referred to the House Committee on Small Business. IntroReferral H11100 2 House floor actions hssm00 Small Business Committee 2020-09-11 Introduced in House IntroReferral Intro-H 9 Library of Congress 2020-09-11 Introduced in House IntroReferral 1000 9 Library of Congress C001119 Rep. Craig, Angie [D-MN-2] Angie Craig D MN 2 N C000266 Rep. Chabot, Steve [R-OH-1] STEVE CHABOT R OH 1 2020-09-11 True T000479 Rep. Taylor, Van [R-TX-3] Van Taylor R TX 3 2020-12-02 False P000614 Rep. Pappas, Chris [D-NH-1] Chris Pappas D NH 1 2020-12-02 False Commerce Administrative remedies Bank accounts, deposits, capital Business records Debt collection Economic development Employment and training programs Energy efficiency and conservation Financial services and investments Government lending and loan guarantees Manufacturing Minority and disadvantaged businesses Performance measurement Small Business Administration Small business User charges and fees Vocational and technical education Commerce 00 2020-09-11 Introduced in House 2020-12-04T19:54:19Z 504 Modernization and Small Manufacturer Enhancement Act of 2020

This bill modifies the Small Business Administration (SBA) 504 Loan Program, which provides a small business with SBA financing—through a certified development company (CDC) intermediary—for expansion or modernization.

Specifically, the bill adds policy goals, at least one of which a CDC must demonstrate to be eligible for assistance. These include (1) enhancing the ability of a small business to reduce costs by using energy efficient products and generating renewable energy, and (2) aiding the revitalization of any area for which a disaster has been declared or determined. The bill also authorizes a CDC to take specified actions to facilitate the closing of a 504 loan, such as correcting borrower or lender information on loan documents or reallocating up to 10% of the cost of a project, and it establishes an express loan closing program for a 504 loan that is less than $500,000.

For small manufacturers, the bill (1) increases the maximum loan amount from $5.5 million to $6.5 million, (2) reduces the amount that they must contribute to project costs, (3) increases job retention requirements, and (4) revises collateral requirements and debt refinancing considerations. Further, each SBA district office must partner with a resource partner to provide certain training for small manufacturers.

]]> 53 2020-12-03 Passed House 2020-12-08T17:44:27Z 504 Modernization and Small Manufacturer Enhancement Act of 2020

This bill modifies the Small Business Administration (SBA) 504 Loan Program, which provides a small business with SBA financing—through a certified development company (CDC) intermediary—for expansion or modernization.

Specifically, the bill adds policy goals, at least one of which a CDC must demonstrate to be eligible for assistance. These include (1) enhancing the ability of a small business to reduce costs by using energy efficient products and generating renewable energy, and (2) aiding the revitalization of any area for which a disaster has been declared or determined. The bill also authorizes a CDC to take specified actions to facilitate the closing of a 504 loan, such as correcting borrower or lender information on loan documents or reallocating up to 10% of the cost of a project, and it establishes an express loan closing program for a 504 loan that is less than $500,000.

Further, the bill authorizes a CDC to refinance up to 100% of costs for expansion projects, and it establishes specified requirements for refinancing projects that do not involve expansion. The bill also modifies the requirements for projects to construct a new facility or to acquire, renoavate, or reconstruct an existing building.

For small manufacturers, the bill (1) increases the maximum loan amount from $5.5 million to $6.5 million, (2) reduces the amount that they must contribute to project costs, (3) increases job retention requirements, and (4) revises collateral requirements. Further, each SBA district office must partner with a resource partner to provide certain training for small manufacturers.

]]> 504 Modernization and Small Manufacturer Enhancement Act of 2020 Display Title 504 Modernization and Small Manufacturer Enhancement Act of 2020 Short Title(s) as Passed House 504 Modernization and Small Manufacturer Enhancement Act of 2020 H House Engrossed in House EH Official Title as Introduced To amend the Small Business Investment Act of 1958 to improve the loan guaranty program, enhance the ability of small manufacturers to access affordable capital, and for other purposes. Engrossed in House EH Short Title(s) as Introduced 504 Modernization and Small Manufacturer Enhancement Act of 2020 Introduced in House IH Short Titles as Passed House 504 Modernization and Small Manufacturer Enhancement Act of 2020 H House Referred in Senate 2020-12-07T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-116hr8211rfs/xml/BILLS-116hr8211rfs.xml Engrossed in House 2020-12-03T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-116hr8211eh/xml/BILLS-116hr8211eh.xml Introduced in House 2020-09-11T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-116hr8211ih/xml/BILLS-116hr8211ih.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.