[United States Statutes at Large, Volume 132, 115th Congress, 2nd Session]
[From the U.S. Government Publishing Office, www.gpo.gov]


Public Law 115-371
115th Congress

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.''.

Approved December 21, 2018.

LEGISLATIVE HISTORY--H.R. 6348 (S. 3553):
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HOUSE REPORTS: No. 115-941 (Comm. on Small Business).
SENATE REPORTS: No. 115-438 (Comm. on Small Business and
Entrepreneurship) accompanying S. 3553.
CONGRESSIONAL RECORD, Vol. 164 (2018):
Sept. 25, considered and passed House.
Dec. 19, considered and passed Senate.