SBA Collections Act of 2023

Bill: 118-s-1142
Sponsor: full_name: Sen. Ernst, Joni [R-IA]
Introduced: 2023-03-30
Policy area: Commerce
Latest action: action_date: 2023-03-30
text: Read twice and referred to the Committee on Small Business and Entrepreneurship.

Summaries:
action_date: 2023-03-30
action_desc: Introduced in Senate
text: <p><b>SBA Collections Act of 2023</b></p> <p>This bill prohibits the Small Business Administration (SBA) from discharging, suspending, or ending collection action on any claim related to a Paycheck Protection Program (PPP) loan or Economic Injury Disaster Loan (EIDL).</p> <p>Additionally, the SBA must refer such claims that are for $100,000 or less to the Department of the Treasury and Treasury must make a final decision for the disposition of such claims.</p> <p>The SBA must provide monthly briefings to, and the SBA Administrator must annually testify before, the Committee on Small Business and Entrepreneurship of the Senate and the Committee on Small Business of the House of Representatives about the collection of claims for such loans.</p>

tv_txt: II 118th CONGRESS 1st Session S. 1142 IN THE SENATE OF THE UNITED STATES March 30, 2023 Ms. Ernst introduced the following bill; which was read twice and referred to the Committee on Small Business and Entrepreneurship A BILL To prohibit the Small Business Administration from suspending collections on Paycheck Protection Program loans and economic injury disaster loans related to COVID–19.

1. Short title This Act may be cited as the SBA Collections Act of 2023 . 2. Prohibition on suspending collections on SBA loans related to COVID–19 (a) Definitions In this section: (1) Administrator The term Administrator means the Administrator of the Small Business Administration. (2) Covered loan The term covered loan means— (A) a loan guaranteed under paragraph (36) or (37) of section 7(a) of the Small Business Act ( 15 U.S.C. 636(a) ); and (B) a loan made under section 7(b)(2) of the Small Business Act ( 15 U.S.C. 636(b)(2) ) related to COVID–19. (3) Department The term Department means the Department of the Treasury. (b) Prohibition of the Administrator (1) In general The Administrator may not discharge, suspend, or end collection action on any claim related to a covered loan. (2) Referral The Administrator shall refer to the Department any claim related to a covered loan for which the Administrator could use the authorities provided in section 3711 of title 31, United States Code, to discharge, suspend, or end that claim, but for the prohibition under paragraph (1). (c) Department of Treasury determination The Department shall— (1) retain the authorities provided in section 3711 of title 31, United States Code, or any similar provision of law; and (2) render a final decision as to discharge, suspend, end, or make collection on a claim referred to the Department under subsection (b)(2). (d) Briefings and testimony (1) Monthly briefings Not later than 30 days after the date of enactment of this Act, and every 30 days thereafter, the Administrator shall brief the Committee on Small Business and Entrepreneurship of the Senate and the Committee on Small Business of the House of Representatives on the progress of the Administrator in pursuing the collection of claims related to covered loans and transferring claims to the Department of the Treasury for collection in accordance with subchapter II of chapter 37 of title 31, United States Code. (2) Testimony (A) In general The Administrator shall testify annually before the Committee on Small Business and Entrepreneurship of the Senate and the Committee on Small Business of the House of Representatives on the implementation of collections of claims related to covered loans. (B) Nondelegation The Administrator may not delegate the responsibility under subparagraph (A) to any other individual.