[Congressional Bills 115th Congress]
[From the U.S. Government Publishing Office]
[H.R. 6348 Enrolled Bill (ENR)]

        H.R.6348

                     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 section 504 
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 ``Small Business Access to Capital and 
Efficiency Act'' or the ``Small Business ACE Act''.
SEC. 2. APPRAISAL THRESHOLDS.
    Section 502(3)(E)(ii) of the Small Business Investment Act of 1958 
(15 U.S.C. 696(3)(E)(ii)) is amended--
        (1) by redesignating subclauses (I) and (II) as items (aa) and 
    (bb), respectively, and adjusting the margins of such items 
    accordingly;
        (2) by striking ``With respect to'' and inserting the 
    following:

                    ``(I) In general.--With respect to'';

        (3) in item (aa), as so redesignated, by striking ``is more 
    than $250,000'' and inserting ``is more than the Federal banking 
    regulator appraisal threshold'';
        (4) in item (bb), as so redesignated, by striking ``is $250,000 
    or less'' and inserting ``is equal to or less than the Federal 
    banking regulator appraisal threshold''; and
        (5) by adding at the end the following:

                    ``(II) Federal banking regulator appraisal 
                threshold defined.--For purposes of this clause, 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.