[Congressional Bills 115th Congress]
[From the U.S. Government Publishing Office]
[H.R. 6347 Referred in Senate (RFS)]

<DOC>
115th CONGRESS
  2d Session
                                H. R. 6347


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                           September 26, 2018

 Received; read twice and referred to the Committee on Small Business 
                          and Entrepreneurship

_______________________________________________________________________

                                 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.''.

            Passed the House of Representatives September 25, 2018.

            Attest:

                                                 KAREN L. HAAS,

                                                                 Clerk.