[Congressional Bills 115th Congress]
[From the U.S. Government Publishing Office]
[H.R. 6348 Referred in Senate (RFS)]

<DOC>
115th CONGRESS
  2d Session
                                H. R. 6348


_______________________________________________________________________


                   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 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.''.

            Passed the House of Representatives September 25, 2018.

            Attest:

                                                 KAREN L. HAAS,

                                                                 Clerk.