[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[S. 2100 Introduced in Senate (IS)]

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118th CONGRESS
  1st Session
                                S. 2100

 To amend the Small Business Investment Act of 1958 to modify fees and 
   funding for certain small business refinancing loans and loans to 
qualified State or local development companies, and for other purposes.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                             June 21, 2023

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

_______________________________________________________________________

                                 A BILL


 
 To amend the Small Business Investment Act of 1958 to modify fees and 
   funding for certain small business refinancing loans and loans to 
qualified State or local development companies, 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 ``504 Loan Availability Act''.

SEC. 2. MODIFICATIONS TO FEES AND FUNDING FOR CERTAIN SMALL BUSINESS 
              REFINANCING LOANS AND LOANS TO QUALIFIED STATE OR LOCAL 
              DEVELOPMENT COMPANIES.

    Title V of the Small Business Investment Act of 1958 (15 U.S.C. 695 
et seq.) is amended--
            (1) in section 502(7)(C) (15 U.S.C. 696(7)(C))--
                    (A) in clause (ii)--
                            (i) in subclause (I), by adding ``and'' at 
                        the end;
                            (ii) in subclause (II), by striking ``; 
                        and'' and inserting a period; and
                            (iii) by striking subclause (III); and
                    (B) in clause (v), by striking ``a total of 
                $7,500,000,000 of financing'' and inserting ``the total 
                amount described in section 511 in financing''; and
            (2) by adding at the end the following:

``SEC. 511. MAXIMUM FUNDING LEVEL.

    ``The Administrator may provide not more than a total, in the 
aggregate, of $15,000,000,000 for each fiscal year of financing to 
guarantee loans under section 503 and loans authorized under section 
502(7)(C).''.

SEC. 3. SUNSET.

    Effective on October 1, 2026, title V of the Small Business 
Investment Act of 1958 (15 U.S.C. 695 et seq.) is amended--
            (1) in section 502(7)(C) (15 U.S.C. 696(7)(C)), by striking 
        clause (v); and
            (2) by striking section 511, as added by section 2 of this 
        Act.
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