Text: H.R.6347 — 115th Congress (2017-2018)All Information (Except Text)

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Reported in House (09/12/2018)

Union Calendar No. 731

115th CONGRESS
2d Session
H. R. 6347

[Report No. 115–940]


To adjust the real estate appraisal thresholds under the 7(a) program to bring them into line with the thresholds used by the Federal banking regulators, and for other purposes.


IN THE HOUSE OF REPRESENTATIVES

July 12, 2018

Mr. Evans (for himself and Mr. Curtis) introduced the following bill; which was referred to the Committee on Small Business

September 12, 2018

Committed to the Committee of the Whole House on the State of the Union and ordered to be printed


A BILL

To adjust the real estate appraisal thresholds under the 7(a) program to bring them into line with the thresholds used by the Federal banking regulators, and for other purposes.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. Short title.

This Act may be cited as the “7(a) Real Estate Appraisal Harmonization Act”.

SEC. 2. Appraisal thresholds.

Section 7(a)(29) of the Small Business Act (15 U.S.C. 636(a)(29)) is amended—

(1) by redesignating subparagraphs (A) and (B) as clauses (i) and (ii), respectively, and adjusting the margins of such clauses accordingly;

(2) by striking “With respect to” and inserting the following:

    “(A) IN GENERAL.—With respect to”;

(3) in clause (i), as so redesignated, by striking “for more than $250,000” and inserting “, if such loan is in an amount greater than the Federal banking regulator appraisal threshold”;

(4) in clause (ii), as so redesignated, by striking “for $250,000 or less” and inserting “, if such loan is in an amount equal to or less than the Federal banking regulator appraisal threshold”; and

(5) by adding at the end the following:

    “(B) FEDERAL BANKING REGULATOR APPRAISAL THRESHOLD DEFINED.—For purposes of this paragraph, the term ‘Federal banking regulator appraisal threshold’ means the lesser of the threshold amounts set by the Board of Governors of the Federal Reserve System, the Comptroller of the Currency, and the Federal Deposit Insurance Corporation for when a federally related transaction that is a commercial real estate transaction requires an appraisal prepared by a State licensed or certified appraiser.”.


Union Calendar No. 731

115th CONGRESS
     2d Session
H. R. 6347
[Report No. 115–940]

A BILL
To adjust the real estate appraisal thresholds under the 7(a) program to bring them into line with the thresholds used by the Federal banking regulators, and for other purposes.

September 12, 2018
Committed to the Committee of the Whole House on the State of the Union and ordered to be printed