CLEAR SBA Act

Bill: 114-s-967
Sponsor: full_name: Sen. Shaheen, Jeanne [D-NH]
Introduced: 2015-04-15
Policy area: Commerce
Subjects: Business investment and capital

Credit and credit markets

Government information and archives

Small Business Administration

Small business
Latest action: action_date: 2016-05-26
text: By Senator Vitter from Committee on Small Business and Entrepreneurship filed written report. Report No. 114-267.

Summaries:
action_date: 2015-04-15
action_desc: Introduced in Senate
text: <p><b>Communicating Lender Activity Reports from the Small Business Administration Act or the CLEAR SBA Act</b></p> <p>This bill amends the Small Business Act to define "covered loan" as a loan made or debenture issued under the Act or the Small Business Investment Act of 1958 by a private individual or entity.</p> <p>The bill requires the Small Business Administration to make publicly available on its website a Lender Activity Index (i.e., a user-friendly database of specified information relating to lenders making these loans).</p> <p>The SBA shall: (1) include in the database information relating to covered loans made during FY2009-FY2015, and (2) incorporate information related to such loans on an ongoing basis.</p>

action_date: 2015-06-10
action_desc: Reported to Senate with amendment(s)
text: <p><b>Communicating Lender Activity Reports from the Small Business Administration Act or the CLEAR SBA Act</b></p> <p>(Sec. 2) Amends the Small Business Act to direct the Small Business Administration (SBA) to make publicly available a user-friendly database of information relating to lenders making loans under such Act or the Small Business Investment Act of 1958.</p> <p>Requires the SBA to: (1) include in the database information on such loans made during FY2009-FY2015, and (2) incorporate information relating to such loans on an ongoing basis.</p> <p>Prohibits the SBA from requiring lenders to submit additional information or to otherwise increase burdens on lenders in order to comply with this Act.</p> <p>Expresses the sense of Congress that no additional funds should be made available to carry out this Act.

tv_txt: II 114th CONGRESS 1st Session S. 967 IN THE SENATE OF THE UNITED STATES April 15, 2015 Mrs. Shaheen introduced the following bill; which was read twice and referred to the Committee on Small Business and Entrepreneurship A BILL To require the Small Business Administration to make information relating to lenders making covered loans publicly available, and for other purposes.

1. Short title This Act may be cited as the Communicating Lender Activity Reports from the Small Business Administration Act or the CLEAR SBA Act . 2. SBA lender activity index Section 4 of the Small Business Act ( 15 U.S.C. 633 ) is amended by adding at the end the following: (g) SBA lender activity index (1) Definition In this subsection, the term covered loan means a loan made or debenture issued under this Act or the Small Business Investment Act of 1958 ( 15 U.S.C. 661 et seq. ) by a private individual or entity. (2) Requirement Not later than 6 months after the date of enactment of this subsection, the Administrator shall make publicly available on the website of the Administration a user-friendly database of information relating to lenders making covered loans (to be known as the Lender Activity Index ). (3) Data included (A) In general The database made available under paragraph (2) shall include, for each lender making a covered loan— (i) the name of the lender; (ii) the number of covered loans made by the lender; (iii) the total dollar amount of covered loans made by the lender; (iv) a list of each ZIP Code in which a recipient of a covered loan made by the lender is located; (v) a list of the industries of the recipients to which the lender made a covered loan; (vi) whether the covered loan is for an existing business or a new business; (vii) the number and total dollar amount of covered loans made by the lender to— (I) small business concerns owned and controlled by women; (II) socially and economically disadvantaged small business concerns (as defined in section 8(a)(4)(A)); and (III) small business concerns owned and controlled by veterans; and (viii) whether the covered loan was made under section 7(a) or under the program to provide financing to small business concerns through guarantees of loans under title V of the Small Business Investment Act of 1958 ( 15 U.S.C. 695 et seq. ). (B) Incorporation of data The Administrator shall— (i) include in the database made available under paragraph (2) information relating to covered loans made during fiscal years 2009, 2010, 2011, 2012, 2013, 2014, and 2015; and (ii) incorporate information relating to covered loans on an ongoing basis. (C) Period of data availability The Administrator shall retain information relating to a covered loan in the database made available under paragraph (2) until not earlier than the end of the third fiscal year beginning after the fiscal year during which the covered loan was made. .

tv_txt: II Calendar No. 108 114th CONGRESS 1st Session S. 967 IN THE SENATE OF THE UNITED STATES April 15, 2015 Mrs. Shaheen (for herself, Mrs. Fischer , Ms. Cantwell , Ms. Hirono , and Mr. Peters ) introduced the following bill; which was read twice and referred to the Committee on Small Business and Entrepreneurship June 10, 2015 Reported by Mr. Vitter , with an amendment Strike out all after the enacting clause and insert the part printed in italic A BILL To require the Small Business Administration to make information relating to lenders making covered loans publicly available, and for other purposes.

1. Short title This Act may be cited as the Communicating Lender Activity Reports from the Small Business Administration Act or the CLEAR SBA Act . 2. SBA lender activity index Section 4 of the Small Business Act ( 15 U.S.C. 633 ) is amended by adding at the end the following: (g) SBA lender activity index (1) Definition In this subsection, the term covered loan means a loan made or debenture issued under this Act or the Small Business Investment Act of 1958 ( 15 U.S.C. 661 et seq. ) by a private individual or entity. (2) Requirement Not later than 6 months after the date of enactment of this subsection, the Administrator shall make publicly available on the website of the Administration a user-friendly database of information relating to lenders making covered loans (to be known as the Lender Activity Index ). (3) Data included (A) In general The database made available under paragraph (2) shall include, for each lender making a covered loan— (i) the name of the lender; (ii) the number of covered loans made by the lender; (iii) the total dollar amount of covered loans made by the lender; (iv) a list of each ZIP Code in which a recipient of a covered loan made by the lender is located; (v) a list of the industries of the recipients to which the lender made a covered loan; (vi) whether the covered loan is for an existing business or a new business; (vii) the number and total dollar amount of covered loans made by the lender to— (I) small business concerns owned and controlled by women; (II) socially and economically disadvantaged small business concerns (as defined in section 8(a)(4)(A)); and (III) small business concerns owned and controlled by veterans; and (viii) whether the covered loan was made under section 7(a) or under the program to provide financing to small business concerns through guarantees of loans under title V of the Small Business Investment Act of 1958 ( 15 U.S.C. 695 et seq. ). (B) Incorporation of data The Administrator shall— (i) include in the database made available under paragraph (2) information relating to covered loans made during fiscal years 2009, 2010, 2011, 2012, 2013, 2014, and 2015; and (ii) incorporate information relating to covered loans on an ongoing basis. (C) Period of data availability The Administrator shall retain information relating to a covered loan in the database made available under paragraph (2) until not earlier than the end of the third fiscal year beginning after the fiscal year during which the covered loan was made. .

1. Short title This Act may be cited as the Communicating Lender Activity Reports from the Small Business Administration Act or the CLEAR SBA Act . 2. SBA lender activity index (a) In general Section 4 of the Small Business Act ( 15 U.S.C. 633 ) is amended by adding at the end the following: (g) SBA lender activity index (1) Definition In this subsection, the term covered loan means a loan made or debenture issued under this Act or the Small Business Investment Act of 1958 ( 15 U.S.C. 661 et seq. ) by a private individual or entity. (2) Requirement Not later than 6 months after the date of enactment of this subsection, the Administrator shall make publicly available on the website of the Administration a user-friendly database of information relating to lenders making covered loans (to be known as the Lender Activity Index ). (3) Data included (A) In general The database made available under paragraph (2) shall include, for each lender making a covered loan— (i) the name of the lender; (ii) the number of covered loans made by the lender; (iii) the total dollar amount of covered loans made by the lender; (iv) a list of each ZIP Code in which a recipient of a covered loan made by the lender is located; (v) a list of the industries of the recipients to which the lender made a covered loan; (vi) whether the covered loan is for an existing business or a new business; (vii) the number and total dollar amount of covered loans made by the lender to— (I) small business concerns owned and controlled by women; (II) socially and economically disadvantaged small business concerns (as defined in section 8(a)(4)(A)); and (III) small business concerns owned and controlled by veterans; and (viii) whether the covered loan was made under section 7(a) or under the program to provide financing to small business concerns through guarantees of loans under title V of the Small Business Investment Act of 1958 ( 15 U.S.C. 695 et seq. ). (B) Incorporation of data The Administrator shall— (i) include in the database made available under paragraph (2) information relating to covered loans made during fiscal years 2009, 2010, 2011, 2012, 2013, 2014, and 2015; and (ii) incorporate information relating to covered loans on an ongoing basis. (C) Period of data availability The Administrator shall retain information relating to a covered loan in the database made available under paragraph (2) until not earlier than the end of the third fiscal year beginning after the fiscal year during which the covered loan was made. (4) No additional burdens on lenders The Administrator may not require lenders to submit additional information or otherwise increase burdens on lenders in order to comply with this subsection. . (b) Sense of Congress relating to using existing funds It is the sense of Congress that no additional funds shall be made available to carry out the amendments made by this Act.

June 10, 2015 Reported with an amendment