[Congressional Bills 114th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2499 Engrossed Amendment Senate (EAS)]
In the Senate of the United States,
July 23, 2015.
Resolved, That the bill from the House of Representatives (H.R.
2499) entitled ``An Act to amend the Small Business Act to increase
access to capital for veteran entrepreneurs, to help create jobs, and
for other purposes.'', do pass with the following
AMENDMENT:
At the end, add the following:
SEC. 4. BUSINESS LOANS PROGRAM.
(a) Section 7(a) Funding Levels.--The third proviso under the
heading ``business loans program account'' under the heading ``Small
Business Administration'' under title V of division E of the
Consolidated and Further Continuing Appropriations Act, 2015 (Public
Law 113-235; 128 Stat. 2371) is amended by striking ``$18,750,000,000''
and inserting ``$23,500,000,000''.
(b) Loan Limitations.--Section 7(a)(1) of the Small Business Act
(15 U.S.C. 636(a)(1)) is amended--
(1) in subparagraph (A)--
(A) by striking ``No financial assistance'' and
inserting the following:
``(i) In general.--No financial
assistance''; and
(B) by adding at the end the following:
``(ii) Liquidity.--On and after October 1,
2015, the Administrator may not guarantee a
loan under this subsection if the lender
determines that the borrower is unable to
obtain credit elsewhere solely because the
liquidity of the lender depends upon the
guaranteed portion of the loan being sold on
the secondary market.''; and
(2) by adding at the end the following:
``(C) Lending limits of lenders.--On and after
October 1, 2015, the Administrator may not guarantee a
loan under this subsection if the sole purpose for
requesting the guarantee is to allow the lender to
exceed the legal lending limit of the lender.''.
(c) Reporting.--
(1) Definitions.--In this subsection--
(A) the term ``Administrator'' means the
Administrator of the Small Business Administration;
(B) the term ``business loan'' means a loan made or
guaranteed under section 7(a) of the Small Business Act
(15 U.S.C. 636(a));
(C) the term ``cancellation'' means that the
Administrator approves a proposed business loan, but
the prospective borrower determines not to take the
business loan; and
(D) the term ``net dollar amount of business
loans'' means the difference between the total dollar
amount of business loans and the total dollar amount of
cancellations.
(2) Requirement.--During the 3-year period beginning on the
date of enactment of this Act, the Administrator shall submit
to Committee on Small Business and Entrepreneurship and the
Committee on Appropriations of the Senate and the Committee on
Small Business and the Committee on Appropriations of the House
of Representatives a quarterly report regarding the loan
programs carried out under section 7(a) of the Small Business
Act (15 U.S.C. 636(a)), which shall include--
(A) for the fiscal year during which the report is
submitted and the 3 fiscal years before such fiscal
year--
(i) the weekly total dollar amount of
business loans;
(ii) the weekly total dollar amount of
cancellations;
(iii) the weekly net dollar amount of
business loans--
(I) for all business loans; and
(II) for each category of loan
amount described in clause (i), (ii),
or (iii) of section 7(a)(18) of the
Small Business Act (15 U.S.C.
636(a)(18));
(B) for the fiscal year during which the report is
submitted--
(i) the amount of remaining authority for
business loans, in dollar amount and as a
percentage; and
(ii) estimates of the date on which the net
dollar amount of business loans will reach the
maximum for such business loans based on daily
net lending volume and extrapolations based on
year to date net lending volume, quarterly net
lending volume, and quarterly growth trends;
(C) the number of early defaults (as determined by
the Administrator) during the quarter covered by the
report;
(D) the total amount paid by borrowers in early
default during the quarter covered by the report, as of
the time of purchase of the guarantee;
(E) the number of borrowers in early default that
are franchisees;
(F) the total amount of guarantees purchased by the
Administrator during the quarter covered by the report;
and
(G) a description of the actions the Administrator
is taking to combat early defaults administratively and
any legislative action the Administrator recommends to
address early defaults.
Attest:
Secretary.
114th CONGRESS
1st Session
H.R. 2499
_______________________________________________________________________
AMENDMENT