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EconomyH.R. 5788Comments

504 Program Risk Oversight Act

Official title: To amend title V of the Small Business Investment Act of 1958 to require an annual portfolio risk analysis of loans guaranteed under such title, and for other purposes.

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Where the Bill Stands

  1. Introduced, done
  2. Committee, done
  3. Floor Vote, done
  4. Outcome, current stage

What This Bill Does

This bill requires the Small Business Administration (SBA) to annually conduct a risk analysis of all loans guaranteed under the 504 loan program.

The 504 loan program provides long-term, fixed-rate financing to qualifying small businesses for major fixed assets, such as land, buildings, equipment, and machinery.

The SBA must annually report the results of the risk analysis for each preceding fiscal year, including the steps taken by the SBA to mitigate the risks identified in the analysis.

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Related Documents

Bill on Congress.govWeb Page ↗ (opens in a new tab)

Timeline

  1. SenateReceived in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.
  2. House floor actionsMr. Williams (TX) moved to suspend the rules and pass the bill.
  3. Passed the House
  4. House floor actionsReported by the Committee on Small Business. H. Rept. 119-404.
  5. House committee actionsCommittee Consideration and Mark-up Session Held
  6. Library of CongressIntroduced in House
  7. House floor actionsReferred to the House Committee on Small Business.
  8. Introduced
  9. Committee

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