Title: To amend the Small Business Act to provide the Administrator of the Small Business Administration authority to increase amount for general business loans, and for other purposes.
Policy area: Commerce

Summary:
This bill amends the Small Business Act to provide that if the amount of Small Business Administration (SBA) commitments for authorized general business loans for a fiscal year exceeds the limit on the total amount of commitments the SBA may make for such loans under such Act, the SBA may make such commitments for such loans for such fiscal year in a total amount equal to up to 120% of that limit.
The SBA may not exercise this authority without prior approval of specified congressional committees.

[Congressional Bills 115th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1915 Introduced in House (IH)]

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115th CONGRESS
  1st Session
                                H. R. 1915

  To amend the Small Business Act to provide the Administrator of the 
Small Business Administration authority to increase amount for general 
                business loans, and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             April 5, 2017

Ms. Velazquez introduced the following bill; which was referred to the 
                      Committee on Small Business

_______________________________________________________________________

                                 A BILL


 
  To amend the Small Business Act to provide the Administrator of the 
Small Business Administration authority to increase amount for general 
                business loans, and for other purposes.

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

SECTION 1. AUTHORITY FOR ADMINISTRATOR TO INCREASE AMOUNT FOR GENERAL 
              BUSINESS LOANS.

    Section 20 of the Small Business Act (15 U.S.C. 631 note) is 
amended--
            (1) by redesignating subsection (j) as subsection (f); and
            (2) by adding at the end the following new subsection:
    ``(g) Authority To Increase Amount of General Business Loans.--
            ``(1) In general.--For fiscal year 2018 and each fiscal 
        year thereafter, if the Administrator determines that the 
        amount of commitments by the Administrator for general business 
        loans authorized under section 7(a) for a fiscal year exceeds 
        the limit on the total amount of commitments the Administrator 
        may make for such loans under this Act, appropriation Acts, or 
        any other provision of law, the Administrator may make 
        commitments for such loans for such fiscal year in total amount 
        equal to not more than 120 percent of such limit.
            ``(2) Approval required before exercising authority.--
                    ``(A) In general.--Not later than 30 days before 
                the date on which the Administrator intends to exercise 
                the authority under paragraph (1), the Administrator 
                shall submit notice of the intent of the Administrator 
                to exercise the authority to--
                            ``(i) the Committee on Small Business and 
                        Entrepreneurship and the Subcommittee on 
                        Financial Services and General Government of 
                        the Committee on Appropriations of the Senate; 
                        and
                            ``(ii) the Committee on Small Business and 
                        the Subcommittee on Financial Services and 
                        General Government of the Committee on 
                        Appropriations of the House of Representatives.
                    ``(B) Approval.--The Administrator may not exercise 
                the authority under paragraph (1) unless the exercise 
                of authority has been approved by the Committee on 
                Appropriations of the Senate and the Committee on 
                Appropriations of the House of Representatives.''.
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