US Congress House Bill 4743 (Prior Session Legislation)

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Completed Legislative Action
Spectrum: Bipartisan Bill
Status: Passed on June 21 2018 - 100% progression
Action: 2018-06-21 - Became Public Law No: 115-189.
Text: Latest bill text (Enrolled) [PDF]

Small Business 7(a) Lending Oversight Reform Act of 2018 (Sec. 3) This bill amends the Small Business Act to provide statutory authority for the Small Business Administration (SBA) Office of Credit Risk Management (OCRM) and the SBA Lender Oversight Committee. The bill modifies the OCRM's supervisory duties and the committee's review of OCRM formal enforcement action recommendations. The bill requires OCRM to supervise: lenders making loans under the SBA's guaranteed loan program, commonly known as 7(a) lenders; lending partners or SBA intermediary participants in a lending program of the SBA's Office of Capital Access; small business lending companies; and nonfederally regulated lenders. The OCRM may assess a monetary penalty against lenders that violate requirements. (Sec. 4) Under current law, a borrower is ineligible for an SBA guaranteed loan if the applicant may obtain credit elsewhere. The term "credit elsewhere" is redefined to include the availability of credit on reasonable terms and conditions to the loan applicant from nongovernment sources, considering factors associated with conventional lending practices, including: the business industry in which the applicant operates; whether the applicant is an enterprise that has been in operation for two years or less; the adequacy of the collateral available to secure the requested loan; the loan term necessary to reasonably assure the ability of the loan applicant to repay the debt from the business's actual or projected cash flow; and any other factors relating to the particular credit application, as documented in detail by the lender, that cannot be overcome except through obtaining a federal loan guarantee under prudent lending standards. Such term is inapplicable to certain SBA guaranteed loans to repair, rehabilitate, or replace property damaged or destroyed by or resulting from natural or other disasters. (Sec. 5) The SBA may, with congressional approval, increase the cap for general business loans if the cap will be reached within that fiscal year. An increase may only be implemented once each fiscal year. (Sec. 6) SBA waivers of regulations or requirements in the Standard Operating Procedures Manual or Policy Notice related to an Office of Capital Access's program or function must be in writing and maintained in an index. (Sec 7) The bill repeals a requirement for the SBA to report certain information to the President and Congress, including the number and amount of loan defaults.

Small Business 7(a) Lending Oversight Reform Act of 2018

Rep. Steve Chabot [R-OH]	Rep. Nydia Velazquez [D-NY]	Sen. Roger Marshall [R-KS]	Rep. Jenniffer Gonzalez-Colon [R-PR]
Rep. Amata Radewagen [R-AS]	Rep. Judy Chu [D-CA]	Rep. Stephanie Murphy [D-FL]	Rep. Adriano Espaillat [D-NY]
Rep. Dwight Evans [D-PA]	Rep. Yvette Clarke [D-NY]	Rep. Ralph Norman [R-SC]	Rep. Al Lawson [D-FL]

Date	Chamber	Action
2018-06-21	House	Became Public Law No: 115-189.
2018-06-21	House	Signed by President.
2018-06-13	House	Presented to President.
2018-06-06	House	Message on Senate action sent to the House.
2018-06-05	House	Passed Senate without amendment by Unanimous Consent. (consideration: CR S2998)
2018-05-23	House	Received in the Senate. Read twice. Placed on Senate Legislative Calendar under General Orders. Calendar No. 431.
2018-05-23	Senate	Message on Senate action sent to the House.
2018-05-22	Senate	Senate returned papers to the House by Unanimous Consent.
2018-05-22	Senate	Senate vitiated previous actions by Unanimous Consent. (consideration: CR S2838)
2018-05-16	Senate	House requested return of papers pursuant to H.Res. 899. (consideration: CR H4008)
2018-05-09	Senate	Received in the Senate. Read twice. Placed on Senate Legislative Calendar under General Orders. Calendar No. 403.
2018-05-08	House	Motion to reconsider laid on the table Agreed to without objection.
2018-05-08	House	On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H3812-3814)
2018-05-08	House	DEBATE - The House proceeded with forty minutes of debate on H.R. 4743.
2018-05-08	House	Considered under suspension of the rules. (consideration: CR H3812-3815)
2018-05-08	House	Mr. Chabot moved to suspend the rules and pass the bill, as amended.
2018-04-26	House	Placed on the Union Calendar, Calendar No. 503.
2018-04-26	House	Reported (Amended) by the Committee on Small Business. H. Rept. 115-655.
2018-03-14	House	Ordered to be Reported (Amended) by Voice Vote.
2018-03-14	House	Committee Consideration and Mark-up Session Held.
2018-01-09	House	Referred to the House Committee on Small Business.
2018-01-09	House	Introduced in House

SB2283 (Related) 2018-06-05 - By Senator Risch from Committee on Small Business and Entrepreneurship filed written report. Report No. 115-265.
HB1915 (Related) 2017-04-05 - Referred to the House Committee on Small Business.
HR899 (Related) 2018-05-16 - Motion to reconsider laid on the table Agreed to without objection.

Type	Source
Summary	https://www.congress.gov/bill/115th-congress/house-bill/4743/all-info
Text	https://www.congress.gov/115/bills/hr4743/BILLS-115hr4743ih.pdf
Text	https://www.congress.gov/115/bills/hr4743/BILLS-115hr4743rh.pdf
Text	https://www.congress.gov/115/bills/hr4743/BILLS-115hr4743eh.pdf
Text	https://www.congress.gov/115/bills/hr4743/BILLS-115hr4743pcs.pdf
Text	https://www.congress.gov/115/bills/hr4743/BILLS-115hr4743enr.pdf