[Congressional Bills 115th Congress]
[From the U.S. Government Publishing Office]
[H.R. 6347 Enrolled Bill (ENR)]

        H.R.6347

                     One Hundred Fifteenth Congress

                                 of the

                        United States of America


                          AT THE SECOND SESSION

         Begun and held at the City of Washington on Wednesday,
           the third day of January, two thousand and eighteen


                                 An Act


 
To adjust the real estate appraisal thresholds under the 7(a) program to 
  bring them into line with the thresholds used by the Federal banking 
                   regulators, 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 ``7(a) Real Estate Appraisal 
Harmonization Act''.
SEC. 2. APPRAISAL THRESHOLDS.
    Section 7(a)(29) of the Small Business Act (15 U.S.C. 636(a)(29)) 
is amended--
        (1) by redesignating subparagraphs (A) and (B) as clauses (i) 
    and (ii), respectively, and adjusting the margins of such clauses 
    accordingly;
        (2) by striking ``With respect to'' and inserting the 
    following:
            ``(A) In general.--With respect to'';
        (3) in clause (i), as so redesignated, by striking ``for more 
    than $250,000'' and inserting ``, if such loan is in an amount 
    greater than the Federal banking regulator appraisal threshold'';
        (4) in clause (ii), as so redesignated, by striking ``for 
    $250,000 or less'' and inserting ``, if such loan is in an amount 
    equal to or less than the Federal banking regulator appraisal 
    threshold''; and
        (5) by adding at the end the following:
            ``(B) Federal banking regulator appraisal threshold 
        defined.--For purposes of this paragraph, the term `Federal 
        banking regulator appraisal threshold' means the lesser of the 
        threshold amounts set by the Board of Governors of the Federal 
        Reserve System, the Comptroller of the Currency, and the 
        Federal Deposit Insurance Corporation for when a federally 
        related transaction that is a commercial real estate 
        transaction requires an appraisal prepared by a State licensed 
        or certified appraiser.''.

                               Speaker of the House of Representatives.

                            Vice President of the United States and    
                                               President of the Senate.