Supporting Community Lenders Act

Bill: 118-s-2099
Sponsor: full_name: Sen. Hickenlooper, John W. [D-CO]
Introduced: 2023-06-21
Policy area: Commerce
Subjects: Banking and financial institutions regulation

Business investment and capital

Congressional oversight

Executive agency funding and structure

Small Business Administration

Small business
Latest action: action_date: 2023-07-25
text: Placed on Senate Legislative Calendar under General Orders. Calendar No. 170.

Summaries:

tv_txt: II Calendar No. 170 118th CONGRESS 1st Session S. 2099 IN THE SENATE OF THE UNITED STATES June 21, 2023 Mr. Hickenlooper (for himself, Mr. Braun , Mrs. Hyde-Smith , and Mr. Warner ) introduced the following bill; which was read twice and referred to the Committee on Small Business and Entrepreneurship July 25, 2023 Reported by Mr. Cardin , with an amendment Strike out all after the enacting clause and insert the part printed in italic A BILL To establish an Office of Community Financial Institutions within the Small Business Administration that will strengthen the ability of Community Financial Institutions to support the development of small business concerns in underserved communities, and for other purposes.

1. Short title This Act may be cited as the Supporting Community Lenders Act . 2. Office of Community Financial Institutions Section 7 of the Small Business Act ( 15 U.S.C. 636 ) is amended by adding at the end the following: (o) Office of Community Financial Institutions (1) Definitions In this subsection— (A) the term Associate Administrator means the Associate Administrator of the Office of Capital Access of the Administration; (B) the term community financial institution has the meaning given the term in paragraph (36); and (C) the term Director means the Director of the Office of Community Financial Institutions. (2) Establishment There is established within the Administration the Office of Community Financial Institutions, which shall be— (A) under the general management and oversight of the Administration; and (B) responsible for the planning, coordination, implementation, evaluation, and improvement of the efforts of the Administrator to enhance the performance of community financial institutions and support access to capital for small business concerns. (3) Director (A) In general Not later than 180 days after the date of enactment of the Supporting Community Lenders Act , the Administrator shall appoint a Director of the Office of Community Financial Institutions, who shall— (i) supervise the Office of Community Financial Institutions and report to the Associate Administrator; (ii) be in the Senior Executive Service; and (iii) have knowledge of community financial institutions and experience providing access to capital to small business concerns in underserved communities. (B) Duties The Director shall— (i) create and implement strategies and programs that support the activities, development, and growth of community financial institutions; (ii) administer and manage outreach, technical support, and training programs to existing, and potential, community financial institutions; (iii) establish partnerships within the Administration and with relevant Federal agencies, including the Department of the Treasury, the Federal Deposit Insurance Corporation, the Department of Agriculture, and the Minority Business Development Agency, to advance the goal of supporting the economic success of small business concerns through community financial institutions; (iv) review the effectiveness and impact of community financial institutions; (v) when appropriate, advocate on behalf of community financial institutions within the Administration, and to outside organizations, including other relevant Federal agencies; (vi) hold public meetings with relevant stakeholders not less frequently than once every 6 months beginning 1 year after the date of enactment of the Supporting Community Lenders Act ; and (vii) not later than 3 years after the date of enactment of the Supporting Community Lenders Act , and not less frequently than once every 3 years thereafter, submit to Congress a report on the major activities of the Office of Community Financial Institutions, recommendations for congressional action based on the expertise of the Office, and areas for growth within the Office. (C) Consultation In carrying out the duties under this paragraph, the Director shall consult with— (i) district offices of the Administration; and (ii) other relevant Federal agencies, including the Department of the Treasury, the Federal Deposit Insurance Corporation, and the Minority Business Development Agency. .

1. Short title This Act may be cited as the Supporting Community Lenders Act . 2. Coordinator for Community Financial Institutions Section 7 of the Small Business Act ( 15 U.S.C. 636 ) is amended by adding at the end the following: (o) Coordinator for Community Financial Institutions (1) Definitions In this subsection— (A) the term Associate Administrator means the Associate Administrator of the Office of Capital Access of the Administration; (B) the term community financial institution has the meaning given the term in paragraph (36); and (C) the term Coordinator means the Coordinator for Community Financial Institutions. (2) Establishment There is established within the Office of Capital Access of the Administration the position of Coordinator for Community Financial Institutions, the occupant of which shall be responsible for the planning, coordination, implementation, evaluation, and improvement of the efforts of the Administrator to enhance the performance of community financial institutions and support access to capital for small business concerns. (3) Coordinator (A) In general Not later than 180 days after the date of enactment of the Supporting Community Lenders Act , the Administrator shall designate an individual to serve as Coordinator, who shall— (i) report to the Associate Administrator; and (ii) have knowledge of community financial institutions and experience providing access to capital to small business concerns in underserved communities. (B) Duties The Coordinator shall— (i) create and implement strategies and programs that support the activities, development, and growth of community financial institutions; (ii) administer and manage outreach, technical support, and training programs to existing, and potential, community financial institutions; (iii) establish partnerships within the Administration and with relevant Federal agencies, including the Department of the Treasury, the Federal Deposit Insurance Corporation, the Department of Agriculture, and the Minority Business Development Agency, to advance the goal of supporting the economic success of small business concerns through community financial institutions; (iv) review the effectiveness and impact of community financial institutions; (v) when appropriate, advocate on behalf of community financial institutions within the Administration, and to outside organizations, including other relevant Federal agencies; (vi) hold public meetings with relevant stakeholders not less frequently than once every 6 months beginning 1 year after the date of enactment of the Supporting Community Lenders Act ; and (vii) not later than 3 years after the date of enactment of the Supporting Community Lenders Act , and not less frequently than once every 3 years thereafter, submit to Congress a report on the major activities of the Coordinator, recommendations for congressional action based on the expertise of the Coordinator, and potential for growth within the areas in which the Coordinator operates. (C) Consultation In carrying out the duties under this paragraph, the Coordinator shall consult with— (i) district offices of the Administration; and (ii) other relevant Federal agencies, including the Department of the Treasury, the Federal Deposit Insurance Corporation, and the Minority Business Development Agency. . 3. Office of advocacy employee eligibility for family and medical leave The Chief Counsel for Advocacy of the Small Business Administration shall immediately notify the Committee on Small Business and Entrepreneurship of the Senate and the Committee on Small Business of the House of Representatives if, at any point, an employee, including a contracted employee, of the Office of Advocacy who has been employed at the Office of Advocacy for more than 1 year is not eligible for paid leave under subchapter V of chapter 63 of title 5, United States Code.

July 25, 2023 Reported with an amendment

tv_txt: II 118th CONGRESS 1st Session S. 2099 IN THE SENATE OF THE UNITED STATES June 21, 2023 Mr. Hickenlooper (for himself, Mr. Braun , Mrs. Hyde-Smith , and Mr. Warner ) introduced the following bill; which was read twice and referred to the Committee on Small Business and Entrepreneurship A BILL To establish an Office of Community Financial Institutions within the Small Business Administration that will strengthen the ability of Community Financial Institutions to support the development of small business concerns in underserved communities, and for other purposes.

1. Short title This Act may be cited as the Supporting Community Lenders Act . 2. Office of Community Financial Institutions Section 7 of the Small Business Act ( 15 U.S.C. 636 ) is amended by adding at the end the following: (o) Office of Community Financial Institutions (1) Definitions In this subsection— (A) the term Associate Administrator means the Associate Administrator of the Office of Capital Access of the Administration; (B) the term community financial institution has the meaning given the term in paragraph (36); and (C) the term Director means the Director of the Office of Community Financial Institutions. (2) Establishment There is established within the Administration the Office of Community Financial Institutions, which shall be— (A) under the general management and oversight of the Administration; and (B) responsible for the planning, coordination, implementation, evaluation, and improvement of the efforts of the Administrator to enhance the performance of community financial institutions and support access to capital for small business concerns. (3) Director (A) In general Not later than 180 days after the date of enactment of the Supporting Community Lenders Act , the Administrator shall appoint a Director of the Office of Community Financial Institutions, who shall— (i) supervise the Office of Community Financial Institutions and report to the Associate Administrator; (ii) be in the Senior Executive Service; and (iii) have knowledge of community financial institutions and experience providing access to capital to small business concerns in underserved communities. (B) Duties The Director shall— (i) create and implement strategies and programs that support the activities, development, and growth of community financial institutions; (ii) administer and manage outreach, technical support, and training programs to existing, and potential, community financial institutions; (iii) establish partnerships within the Administration and with relevant Federal agencies, including the Department of the Treasury, the Federal Deposit Insurance Corporation, the Department of Agriculture, and the Minority Business Development Agency, to advance the goal of supporting the economic success of small business concerns through community financial institutions; (iv) review the effectiveness and impact of community financial institutions; (v) when appropriate, advocate on behalf of community financial institutions within the Administration, and to outside organizations, including other relevant Federal agencies; (vi) hold public meetings with relevant stakeholders not less frequently than once every 6 months beginning 1 year after the date of enactment of the Supporting Community Lenders Act ; and (vii) not later than 3 years after the date of enactment of the Supporting Community Lenders Act , and not less frequently than once every 3 years thereafter, submit to Congress a report on the major activities of the Office of Community Financial Institutions, recommendations for congressional action based on the expertise of the Office, and areas for growth within the Office. (C) Consultation In carrying out the duties under this paragraph, the Director shall consult with— (i) district offices of the Administration; and (ii) other relevant Federal agencies, including the Department of the Treasury, the Federal Deposit Insurance Corporation, and the Minority Business Development Agency. .