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EconomyH.R. 915Comments

Small Business Technological Advancement Act

Official title: To authorize small business loans to finance access to modern business software, 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

How Congress Voted

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What This Bill Does

This bill authorizes the Small Business Administration (SBA) to finance under the 7(a) loan program business software or cloud computing services that facilitate business operations, product or service delivery, payroll processing, human resources functions, sales and billing functions, or accounting or tracking of inventory. Such software or services include business tools that utilize artificial intelligence.

The 7(a) loan program is the SBA's primary business loan program that provides loan guaranties for participating lenders to provide financing to small businesses that are otherwise unable obtain reasonable credit terms.

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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 actionsConsidered as unfinished business. (consideration: CR H4227)
  3. Floor Vote
  4. Passed the House
  5. House floor actionsMr. Williams (TX) moved to suspend the rules and pass the bill, as amended.
  6. House floor actionsReported by the Committee on Small Business. H. Rept. 119-678.
  7. House committee actionsCommittee Consideration and Mark-up Session Held
  8. Library of CongressIntroduced in House
  9. House floor actionsReferred to the House Committee on Small Business.
  10. Introduced
  11. Committee

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