US Congress House Bill 3191 (Prior Session Legislation)

---

Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on July 23 2015 - 25% progression, died in committee
Action: 2015-07-23 - Referred to the House Committee on Small Business.
Pending: House Small Business Committee
Text: Latest bill text (Introduced) [PDF]

To amend the Consolidated and Further Continuing Appropriations Act, 2015 with respect to funding available for fiscal year 2015 for certain general business loans authorized under the Small Business Act, to amend the Small Business Act to modify loan limitations, and for other purposes. This bill amends the Consolidated and Further Continuing Appropriations Act, 2015 to increase from $18.75 billion to $23.5 billion the FY2015 funding available to the Small Business Administration (SBA) for general business loans authorized under section 7(a) of the Small Business Act. The bill prohibits the SBA from guaranteeing a loan on and after October 1, 2015, if: the lender determines that the borrower is unable to obtain credit elsewhere solely because the lender's liquidity depends upon the guaranteed portion of the loan being sold on the secondary market, or the sole purpose for requesting the guarantee is to allow the lender to exceed its legal lending limit. The bill also requires the SBA to submit quarterly reports to Congress regarding the loan programs carried out under this section.

To amend the Consolidated and Further Continuing Appropriations Act, 2015 with respect to funding available for fiscal year 2015 for certain general business loans authorized under the Small Business Act, to amend the Small Business Act to modify loan limitations, and for other purposes.

Rep. Steve Chabot [R-OH]

Date	Chamber	Action
2015-07-23	House	Referred to the House Committee on Small Business.
2015-07-23	House	Introduced in House

HB2499 (Related) 2015-07-28 - Became Public Law No: 114-38. (TXT | PDF)

Type	Source
Summary	https://www.congress.gov/bill/114th-congress/house-bill/3191/all-info
Text	https://www.congress.gov/114/bills/hr3191/BILLS-114hr3191ih.pdf