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To amend the Small Business Act to provide the Administrator of the Small Business Administration authority to increase amount for general business loans, and for other purposes.
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This bill amends the Small Business Act to provide that if the amount of Small Business Administration (SBA) commitments for authorized general business loans for a fiscal year exceeds the limit on the total amount of commitments the SBA may make for such loans under such Act, the SBA may make such commitments for such loans for such fiscal year in a total amount equal to up to 120% of that limit. The SBA may not exercise this authority without prior approval of specified congressional committees.
Referred to the House Committee on Small Business.
Introduced in House
Congress.gov source codes: 1000, Intro-H
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Sources: Congress.gov