H.R. 1482 — 117th Congress
504 Credit Risk Management Improvement Act of 2021
Sponsor
Latest action
Apr 19, 2021Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.
CRS summary
As of Apr 16, 2021Passed House
504 Credit Risk Management Improvement Act of 2021
This bill revises the duties of the Office of Credit Risk Management to include oversight of a certified development company (CDC) that participates in the 504 Loan Program of the Small Business Administration (SBA), and it requires the SBA to issue rules related to certain environmental requirements. The 504 Loan Program provides a small business with SBA financing—through a CDC intermediary—for expansion or modernization.
Specifically, the bill requires the office to oversee any CDC that participates in the program and to conduct file reviews with respect to loan closings under the program. Further, the bill authorizes the office to take formal and informal enforcement actions against a CDC for specified violations and to charge each CDC a fee.
The SBA must issue rules to clarify the procedures necessary for an eligible CDC to comply with certain environmental requirements.
Congressional Research Service, via api.congress.gov (public domain)
Roll-call votes
1 on recordApr 16, 2021 · On Motion to Suspend the Rules and Pass
Full roll callYea — 411: 212 D · 199 R
Nay — 8: 5 R · 3 D
| Member | State |
|---|---|
| Sean Casten | IL |
| Sylvia R. Garcia | TX |
| Veronica Escobar | TX |
| Mo Brooks | AL |
| Bill Posey | FL |
| Matt Gaetz | FL |
| Thomas Massie | KY |
| Chip Roy | TX |
Not Voting — 10: 8 R · 2 D
| Member | State |
|---|---|
| Lucille Roybal-Allard | CA |
| Michael F. Doyle | PA |
| Daniel Webster | FL |
| Scott Franklin | FL |
| Bill Huizenga | MI |
| Billy Long | MO |
| Madison Cawthorn | NC |
| Claudia Tenney | NY |
| Elise M. Stefanik | NY |
| Steve Stivers | OH |
Member pages currently show roll-call votes from the 119th Congress only. The “Member pages” column marks votes from that congress.