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[Congressional Bills 114th Congress]
[From the U.S. Government Publishing Office]
[H.R. 5029 Introduced in House (IH)]

<DOC>

114th CONGRESS
  2d Session
                                H. R. 5029

 To amend the Small Business Act to clarify certain guarantee fees for 
                   loans repayable in 1 year or less.

_______________________________________________________________________

                    IN THE HOUSE OF REPRESENTATIVES

                             April 21, 2016

 Mr. Aguilar introduced the following bill; which was referred to the 
                      Committee on Small Business

_______________________________________________________________________

                                 A BILL

 
 To amend the Small Business Act to clarify certain guarantee fees for 
                   loans repayable in 1 year or less.

    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 Lending Assistance 
Act of 2016''.

SEC. 2. GUARANTEE FEES FOR LOANS REPAYABLE IN 1 YEAR OR LESS.

    (a) Guarantee Fees.--Section 7(a)(18) of the Small Business Act (15 
U.S.C. 636(a)(18)) is amended--
            (1) in subparagraph (A), by striking ``With respect to each 
        loan guaranteed under this subsection (other than a loan that 
        is repayable in 1 year or less)'' and inserting ``Except as 
        provided in subparagraph (B), with respect to a loan guaranteed 
        under this subsection'';
            (2) by redesignating subparagraph (B) as subparagraph (C); 
        and
            (3) by inserting after subparagraph (A) the following new 
        subparagraph:
                    ``(B) Exceptions.--
                            ``(i) Discretionary guarantee fee.--With 
                        respect to a loan that is repayable in 1 year 
                        or less, the Administrator has the discretion 
                        to not collect a guarantee fee.
                            ``(ii) No guarantee fee.--The Administrator 
                        may not collect a guarantee fee in connection 
                        with a loan that is--
                                    ``(I) made to a borrower that 
                                resides in a county with an annual 
                                unemployment rate for the preceding 
                                calendar year of at least one 
                                percentage point greater than the 
                                national annual unemployment rate for 
                                the preceding calendar year (as 
                                determined by the Bureau of Labor 
                                Statistics); and
                                    ``(II) repayable in 1 year or 
                                less.''.
    (b) Authorization of Appropriations.--There is authorized to be 
appropriated to the Administrator of the Small Business Administration 
such sums as would be available to the Administrator but for 
subparagraph (B) of section 7(a)(18) of the Small Business Act (15 
U.S.C. 636(a)(18)).
                                 <all>
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