[Congressional Bills 112th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3147 Introduced in House (IH)]

112th CONGRESS
  1st Session
                                H. R. 3147

   To amend the Small Business Jobs Act of 2010 to extend the Small 
 Business Lending Fund Program, to provide for an appeals process, and 
                          for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            October 11, 2011

 Mr. Carney (for himself, Mr. Frank of Massachusetts, Mr. Perlmutter, 
Mr. Peters, Mr. Miller of North Carolina, and Mrs. Maloney) introduced 
 the following bill; which was referred to the Committee on Financial 
                                Services

_______________________________________________________________________

                                 A BILL


 
   To amend the Small Business Jobs Act of 2010 to extend the Small 
 Business Lending Fund Program, to provide for an appeals process, 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 Lending Extension 
Act''.

SEC. 2. EXTENSION AND UPDATING OF THE SMALL BUSINESS LENDING FUND 
              PROGRAM.

    (a) Small Business Lending Fund Program Extension.--Section 4109(a) 
of the Small Business Jobs Act of 2010 is amended by striking ``1 
year'' and inserting ``2 years''.
    (b) Appeal Process; Reapplication.--Section 4103 of the Small 
Business Jobs Act of 2010 is amended by adding at the end the following 
new subsection:
    ``(e) Appeal Process; Reapplication.--
            ``(1) Disclosure of reason for rejection.--
                    ``(A) In general.--With respect to any institution 
                that submits an application to receive a capital 
                investment from the Fund, and has such application 
                rejected by the Secretary, the Secretary shall supply 
                the institution with the reason for such rejection.
                    ``(B) Confidentiality.--The Secretary, in 
                consultation with the appropriate Federal banking 
                agency for an institution, shall ensure that the 
                rejection reason described under subparagraph (A) is 
                kept confidential except as provided under that 
                subparagraph.
            ``(2) Appeal of rejection.--With respect to an institution 
        described under paragraph (1)(A), the Secretary shall establish 
        an appeal process that provides the institution with an 
        opportunity to contest the reasons that were provided for the 
        rejection of the institution's application to receive a capital 
        investment from the Fund.
            ``(3) Reapplication.--The Secretary shall issue regulations 
        allowing an institution described under paragraph (1)(A) to 
        reapply to receive a capital investment.''.
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