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Titles Actions Overview All Actions Cosponsors Committees Related Bills Subjects Latest Summary All Summaries

Titles (3)

Short Titles

Short Titles - House of Representatives

Short Titles as Passed House

504 Credit Risk Management Improvement Act of 2021

Short Title(s) as Introduced

504 Credit Risk Management Improvement Act of 2021

Official Titles

Official Titles - House of Representatives

Official Title as Introduced

To amend the Small Business Act to enhance the Office of Credit Risk Management, to require the Administrator of the Small Business Administration to issue rules relating to environmental obligations of certified development companies, and for other purposes.

Actions Overview (2)

Date Actions Overview
04/16/2021Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by the Yeas and Nays: (2/3 required): 411 - 8 (Roll no. 119).(text: 04/14/2021 CR H1772-1773)
03/02/2021Introduced in House

All Actions (10)

Date Chamber All Actions
04/19/2021SenateReceived in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.
04/16/2021-12:22pmHouseMotion to reconsider laid on the table Agreed to without objection.
04/16/2021-12:22pmHouseOn motion to suspend the rules and pass the bill Agreed to by the Yeas and Nays: (2/3 required): 411 - 8 (Roll no. 119). (text: 04/14/2021 CR H1772-1773)
04/16/2021-11:51amHouseConsidered as unfinished business. (consideration: CR H1872-1873)
04/14/2021-3:15pmHouseAt the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.
04/14/2021-2:59pmHouseDEBATE - The House proceeded with forty minutes of debate on H.R. 1482.
04/14/2021-2:59pmHouseConsidered under suspension of the rules. (consideration: CR H1772-1775)
04/14/2021-2:58pmHouseMs. Davids (KS) moved to suspend the rules and pass the bill.
03/02/2021HouseReferred to the House Committee on Small Business.
03/02/2021HouseIntroduced in House

Cosponsors (5)

* = Original cosponsor
CosponsorDate Cosponsored
Rep. Craig, Angie [D-MN-2]* 03/02/2021
Rep. Kim, Young [R-CA-39]* 03/02/2021
Rep. Davids, Sharice [D-KS-3]* 03/02/2021
Rep. Tenney, Claudia [R-NY-22] 03/16/2021
Rep. Cohen, Steve [D-TN-9] 03/16/2021

Committees (2)

Committees, subcommittees and links to reports associated with this bill are listed here, as well as the nature and date of committee activity and Congressional report number.

Committee / Subcommittee Date Activity Related Documents
House Small Business03/02/2021 Referred to
Senate Small Business and Entrepreneurship04/19/2021 Referred to

As of 06/14/2021 no related bill information has been received for H.R.1482 - 504 Credit Risk Management Improvement Act of 2021

Latest Summary (2)

There are 2 summaries for H.R.1482. View summaries

Shown Here:
Passed House (04/16/2021)

504 Credit Risk Management Improvement Act of 2021

This bill revises the duties of the Office of Credit Risk Management to include oversight of a certified development company (CDC) that participates in the 504 Loan Program of the Small Business Administration (SBA), and it requires the SBA to issue rules related to certain environmental requirements. The 504 Loan Program provides a small business with SBA financing—through a CDC intermediary—for expansion or modernization.

Specifically, the bill requires the office to oversee any CDC that participates in the program and to conduct file reviews with respect to loan closings under the program. Further, the bill authorizes the office to take formal and informal enforcement actions against a CDC for specified violations and to charge each CDC a fee.

The SBA must issue rules to clarify the procedures necessary for an eligible CDC to comply with certain environmental requirements.