•HR 4743 EH1S 
‘‘(D) steps taken by the Administrator to 
mitigate the risks identified in subparagraphs 
(A), (B), and (C); 
‘‘(E) the number of 7(a) lenders, the num-
ber of loans made, and the gross and net dollar 
amount of loans made; 
‘‘(F) the number and dollar amount of 
total losses, the number and dollar amount of 
total purchases, and the percentage and dollar 
amount of recoveries at the Administration; 
‘‘(G) the number and type of enforcement 
actions recommended by the Director; 
‘‘(H) the number and type of enforcement 
actions approved by the Lender Oversight Com-
mittee established under section 48; 
‘‘(I) the number and type of enforcement 
actions disapproved by the Lender Oversight 
Committee; and 
‘‘(J) the number and dollar amount of civil 
monetary penalties assessed. 
‘‘(i) BUDGET SUBMISSION
AND JUSTIFICATION.— 
The Director shall annually provide, in writing, a fiscal 
year budget submission for the Office and a justification 
for such submission to the Administrator. Such submis-
sion and justification shall—
•HR 4743 EH1S 
‘‘(1) include salaries and expenses of the Office 
and the charge for the lender oversight fees; 
‘‘(2) be submitted at or about the time of the 
budget submission by the President under section 
1105(a) of title 31; and 
‘‘(3) be maintained in an indexed form and 
made available for public review for a period of not 
less than 5 years beginning on the date of submis-
sion and justification. 
‘‘SEC. 48. LENDER OVERSIGHT COMMITTEE. 
‘‘(a) ESTABLISHMENT.—There is established within 
the Administration the Lender Oversight Committee (in 
this section referred to as the ‘Committee’). 
‘‘(b) MEMBERSHIP.—The Committee shall consist of 
at least 8 members selected by the Administrator, of 
which— 
‘‘(1) 3 members shall be voting members, 2 of 
whom shall be career appointees in the Senior Exec-
utive Service (as defined in section 3132 of title 5, 
United States Code); and 
‘‘(2) the remaining members shall be nonvoting 
members who shall serve in an advisory capacity on 
the Committee. 
‘‘(c) DUTIES.—The Committee shall—
•HR 4743 EH1S 
‘‘(1) review reports on lender oversight activi-
ties; 
‘‘(2) review formal enforcement action rec-
ommendations of the Director of the Office of Credit 
Risk Management with respect to any lender making 
loans under section 7(a) and any Lending Partner 
or Intermediary participant of the Administration in 
a lending program of the Office of Capital Access of 
the Administration; 
‘‘(3) in carrying out paragraph (2) with respect 
to formal enforcement actions taken under sub-
section (d) or (e) of section 23, vote to recommend 
or not recommend action to the Administrator or a 
designee of the Administrator; 
‘‘(4) in carrying out paragraph (2) with respect 
to any formal enforcement action not specified under 
subsection (d) or (e) of section 23, vote to approve, 
disapprove, or modify the action; 
‘‘(5) review, in an advisory capacity, any lender 
oversight, portfolio risk management, or program in-
tegrity matters brought by the Director; and 
‘‘(6) take such other actions and perform such 
other functions as may be delegated to the Com-
mittee by the Administrator. 
‘‘(d) MEETINGS.—
•HR 4743 EH1S 
‘‘(1) IN GENERAL.—The Committee shall meet 
as necessary, but not less frequently than on a quar-
terly basis. 
‘‘(2) REPORTS.—The Committee shall submit 
to the Administrator a report detailing each meeting 
of the Committee, including if the Committee does 
or does not vote to approve a formal enforcement ac-
tion of the Director of the Office of Credit Risk 
Management with respect to a lender.’’. 
(b) SUPERVISION DUTIES FOR 7(A) LENDERS.—Ef-
fective January 1, 2019, subsection (d) of section 47 (as 
added by subsection (a)) is amended to read as follows: 
‘‘(d) SUPERVISION DUTIES FOR 7(A) LENDERS.— 
‘‘(1) REVIEWS.—With respect to 7(a) lenders, 
an employee of the Office shall— 
‘‘(A) be present for and supervise any such 
review that is conducted by a contractor of the 
Office on the premise of the 7(a) lender; and 
‘‘(B) supervise any such review that is not 
conducted on the premise of the 7(a) lender. 
‘‘(2) REVIEW REPORT TIMELINE.— 
‘‘(A) IN GENERAL.—Notwithstanding any 
other requirements of the Office or the Admin-
istrator, the Administrator shall develop and
•HR 4743 EH1S 
implement a review report timeline which 
shall— 
‘‘(i) require the Administrator to— 
‘‘(I) deliver a written report of 
the review to the 7(a) lender not later 
than 60 business days after the date 
on which the review is concluded; or 
‘‘(II) if the Administrator expects 
to submit the report after the end of 
the 60-day period described in clause 
(i), notify the 7(a) lender of the ex-
pected date of submission of the re-
port and the reason for the delay; and 
‘‘(ii) if a response by the 7(a) lender 
is requested in a report submitted under 
subparagraph (A), require the 7(a) lender 
to submit responses to the Administrator 
not later than 45 business days after the 
date on which the 7(a) lender receives the 
report. 
‘‘(B) 
EXTENSION.—The 
Administrator 
may extend the time frame described in sub-
paragraph (A)(i)(II) with respect to a 7(a) 
lender as the Administrator determines nec-
essary.’’.