[Congressional Bills 114th Congress]
[From the U.S. Government Publishing Office]
[S. 2496 Introduced in Senate (IS)]

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114th CONGRESS
  2d Session
                                S. 2496

  To provide flexibility for the Administrator of the Small Business 
 Administration to increase the total amount of general business loans 
  that may be guaranteed under section 7(a) of the Small Business Act.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                            February 3, 2016

  Mr. Coons (for himself, Mr. Risch, and Mrs. Shaheen) introduced the 
 following bill; which was read twice and referred to the Committee on 
                  Small Business and Entrepreneurship

_______________________________________________________________________

                                 A BILL


 
  To provide flexibility for the Administrator of the Small Business 
 Administration to increase the total amount of general business loans 
  that may be guaranteed under section 7(a) of the Small Business Act.

    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 ``Help Small Businesses Access 
Affordable Credit Act''.

SEC. 2. GENERAL BUSINESS LOANS.

    Section 20 of the Small Business Act (15 U.S.C. 631 note) is 
amended--
            (1) by redesignating subsection (j) as subsection (f); and
            (2) by adding at the end the following:
    ``(g) Authority To Increase Amount of General Business Loans.--
            ``(1) In general.--For fiscal year 2017, and each fiscal 
        year thereafter, if the Administrator determines that the 
        demand for commitments by the Administrator for general 
        business loans authorized under section 7(a) for the fiscal 
        year exceeds the limit on the total amount of commitments the 
        Administrator may make for such loans under this Act, an 
        appropriation Act, or any other provision of law, the 
        Administrator may make commitments for such loans in a total 
        amount equal to not more than 110 percent of such limit.
            ``(2) Approval required before exercising authority.--
                    ``(A) In general.--Not later than 45 days before 
                the date on which the Administrator intends to exercise 
                the authority under paragraph (1), the Administrator 
                shall submit notice of the intent of the Administrator 
                to exercise the authority to--
                            ``(i) the Committee on Small Business and 
                        Entrepreneurship and the Subcommittee on 
                        Financial Services and General Government of 
                        the Committee on Appropriations of the Senate; 
                        and
                            ``(ii) the Committee on Small Business and 
                        the Subcommittee on Financial Services and 
                        General Government of the Committee on 
                        Appropriations of the House of Representatives.
                    ``(B) Approval.--The Administrator may not exercise 
                the authority under paragraph (1) unless the exercise 
                of authority has been approved by the Committee on 
                Appropriations of the Senate and the Committee on 
                Appropriations of the House of Representatives.''.
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