I 

114TH CONGRESS 

1ST SESSION H. R. 3191 

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. 

IN THE HOUSE OF REPRESENTATIVES 

JULY 23, 2015 

Mr. CHABOT introduced the following bill; which was referred to the 

Committee on Small Business 

A BILL 

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. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 


SSpencer on DSK4SPTVN1PROD with BILLS
2 

•HR 3191 IH

1 SECTION 1. AMENDMENTS TO FUNDING AVAILABLE TO THE 

2 SMALL BUSINESS ADMINISTRATION TO MAKE 

3 SECTION 7(a) LOANS. 

4 (a) SECTION 7(a) LOAN FUNDING LEVELS.—The 

5 third proviso under the heading ‘‘Small Business Adminis6 tration—Business Loans Program Account’’ in title V of 

7 division E of the Consolidated and Further Continuing 

8 Appropriations Act, 2015 (Public Law 113–235; 128 Stat. 

9 2371) is amended by striking ‘‘$18,750,000,000’’ and in10 serting ‘‘$23,500,000,000’’. 

11 (b) LOAN LIMITATIONS.—Section 7(a)(1) of the 

12 Small Business Act (15 U.S.C. 636(a)(1)) is amended— 

13 (1) in subparagraph (A)— 

14 (A) by striking ‘‘No financial assistance’’ 

15 and inserting the following: 

16 ‘‘(i) IN GENERAL.—No financial as17 sistance’’; and 

18 (B) by adding at the end the following: 

19 ‘‘(ii) LIQUIDITY.—On and after Octo20 ber 1, 2015, the Administrator may not 

21 guarantee a loan under this subsection if 

22 the lender determines that the borrower is 

23 unable to obtain credit elsewhere solely be24 cause the liquidity of the lender depends 

25 upon the guaranteed portion of the loan 

26 being sold on the secondary market.’’; and 


SSpencer on DSK4SPTVN1PROD with BILLS
3 

•HR 3191 IH

1 (2) by adding at the end the following: 

2 ‘‘(C) LENDING LIMITS OF LENDERS.—On 

3 and after October 1, 2015, the Administrator 

4 may not guarantee a loan under this subsection 

5 if the sole purpose for requesting the guarantee 

6 is to allow the lender to exceed the legal lending 

7 limit of the lender.’’. 

8 (c) REPORTING.— 

9 (1) DEFINITIONS.—In this subsection— 

10 (A) the term ‘‘Administrator’’ means the 

11 Administrator of the Small Business Adminis12 tration; 

13 (B) the term ‘‘business loan’’ means a loan 

14 made or guaranteed under section 7(a) of the 

15 Small Business Act (15 U.S.C. 636(a)); 

16 (C) the term ‘‘cancellation’’ means that the 

17 Administrator approves a proposed business 

18 loan, but the prospective borrower determines 

19 not to take the business loan; and 

20 (D) the term ‘‘net dollar amount of busi21 ness loans’’ means the difference between the 

22 total dollar amount of business loans and the 

23 total dollar amount of cancellations. 

24 (2) REQUIREMENT.—During the 3-year period 

25 beginning on the date of enactment of this Act, the 


SSpencer on DSK4SPTVN1PROD with BILLS
4 

•HR 3191 IH

1 Administrator shall submit to Committee on Small 

2 Business and Entrepreneurship and the Committee 

3 on Appropriations of the Senate and the Committee 

4 on Small Business and the Committee on Appropria5 tions of the House of Representatives a quarterly re6 port regarding the loan programs carried out under 

7 section 7(a) of the Small Business Act (15 U.S.C. 

8 636(a)), which shall include— 

9 (A) for the fiscal year during which the re10 port is submitted and the 3 fiscal years before 

11 such fiscal year— 

12 (i) the weekly total dollar amount of 

13 business loans; 

14 (ii) the weekly total dollar amount of 

15 cancellations; and 

16 (iii) the weekly net dollar amount of 

17 business loans— 

18 (I) for all business loans; and 

19 (II) for each category of loan 

20 amount described in clause (i), (ii), or 

21 (iii) of section 7(a)(18) of the Small 

22 Business Act (15 U.S.C. 636(a)(18)); 

23 (B) for the fiscal year during which the re24 port is submitted— 


SSpencer on DSK4SPTVN1PROD with BILLS
5 

•HR 3191 IH

1 (i) the amount of remaining authority 

2 for business loans, in dollar amount and as 

3 a percentage; and 

4 (ii) estimates of the date on which the 

5 net dollar amount of business loans will 

6 reach the maximum for such business 

7 loans based on daily net lending volume 

8 and extrapolations based on year-to-date 

9 net lending volume, quarterly net lending 

10 volume, and quarterly growth trends; 

11 (C) the number of early defaults (as deter12 mined by the Administrator) during the quarter 

13 covered by the report; 

14 (D) the total amount paid by borrowers in 

15 early default during the quarter covered by the 

16 report, as of the time of purchase of the guar17 antee; 

18 (E) the number of borrowers in early de19 fault that are franchisees; 

20 (F) the total amount of guarantees pur21 chased by the Administrator during the quarter 

22 covered by the report; and 

23 (G) a description of the actions the Admin24 istrator is taking to combat early defaults ad25 ministratively and any legislative action the AdVerDate Sep 11 2014 01:42 Jul 28, 2015 Jkt 049200 PO 00000 Frm 00005 Fmt 6652 Sfmt 6201 E:\BILLS\H3191.IH H3191

SSpencer on DSK4SPTVN1PROD with BILLS
6 

•HR 3191 IH

1 ministrator recommends to address early de2 faults. 

Æ 


SSpencer on DSK4SPTVN1PROD with BILLS