Small Business Energy Loan Enhancement Act

Bill: 118-hr-1491
Sponsor: full_name: Rep. Crow, Jason [D-CO-6]
Introduced: 2023-03-09
Policy area: Commerce
Latest action: action_date: 2023-03-09
text: Referred to the House Committee on Small Business.

Summaries:
action_date: 2023-03-09
action_desc: Introduced in House
text: <p><b>Small Business Energy Loan Enhancement Act</b></p> <p>This bill increases from $5.5 million to $10 million the maximum amount of certain Small Business Administration loans for plant acquisition, construction, conversion, and expansion. Projects eligible for these increased loan amounts must (1) reduce the borrower's energy consumption by at least 10%; or (2) generate renewable energy or renewable fuels, such as biodiesel or ethanol production.</p>

tv_txt: I 118th CONGRESS 1st Session H. R. 1491 IN THE HOUSE OF REPRESENTATIVES March 9, 2023 Mr. Crow (for himself and Mr. Bacon ) introduced the following bill; which was referred to the Committee on Small Business A BILL To amend the Small Business Investment Act of 1958 to increase the maximum loan amount for certain loans.

1. Short title This Act may be cited as the Small Business Energy Loan Enhancement Act . 2. Increase in certain maximum loan amounts (a) In general Section 502(2)(A) of the Small Business Investment Act of 1958 ( 15 U.S.C. 696(2)(A) ) is amended— (1) in clause (iv), by striking $5,500,000 and inserting $10,000,000 ; and (2) in clause (v), by striking $5,500,000 and inserting $10,000,000 . (b) Report Not later than 1 year after the date of enactment of this Act, and annually thereafter, the Administrator of the Small Business Administration shall submit to Congress a report that details, for the year covered by the report, the industries and geographic areas with respect to which the Administrator has made loans under clauses (iv) and (v) of section 502(2)(A) of the Small Business Investment Act of 1958 ( 15 U.S.C. 696(2)(A) ), as amended by subsection (a).