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H.R.1332
Title: To improve the access to capital programs of the Small Business Administration, and for other purposes.
Sponsor: Rep Bean, Melissa L. [IL-8] (introduced 3/6/2007)      Cosponsors (7)
Related Bills: H.RES.330
Latest Major Action: 5/1/2007 Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 129.
House Reports: 110-104
Jump to: Summary, Major Actions, All Actions, Titles, Cosponsors, Committees, Related Bill Details, Amendments
SUMMARY AS OF:
4/25/2007--Passed House amended.    (There are 2 other summaries)

Small Business Lending Improvements Act of 2007 - Title I: 7(A) Program - (Sec. 101) Amends the Small Business Act relating to the 7(a) (business start-up loan) program to authorize the Administrator of the Small Business Administration (SBA) to offset (contribute to) borrower and lender fees associated with 7(a) loans when funds are made available to the SBA for such contributions. Requires the quarterly adjustment of any contributions made.

(Sec. 102) Directs the Administrator to carry out a rural lending outreach program to provide up to an 85 percent guaranty for loans of $250,000 or less made by lenders to small businesses in rural areas. Requires the SBA to approve or decline such loan within 36 hours.

(Sec. 103) Directs the Administrator to carry out a permanent Community Express Program (currently a pilot program) for loans of $250,000 or less to small businesses: (1) whose majority ownership is held by women, members of qualified Indian tribes, socially or economically disadvantaged individuals, veterans, or members of the reserves; or (2) located in a low- or moderate-income area. Requires the SBA to approve or decline such loans within 36 hours.

(Sec. 104) Requires the Administrator to carry out a Medical Professionals in Designated Shortage Areas Program to provide loans to small businesses that provide medical, dental, or psychiatric services and are located in a health professional shortage area (as defined under the Public Health Service Act). Directs the SBA to guarantee 90 percent of such loan, and reduces by half the borrower and lender fees.

(Sec. 105) Directs the Administrator to carry out an Increased Veteran Participation Program to small businesses whose majority ownership is held by veterans or members of the reserves. Directs the SBA to guarantee 90 percent of such loan, and eliminates the borrower and lender fees.

(Sec. 106) Directs the Administrator to establish, and permit a lender making a 7(a) loan to use, an alternative size standard (such as business net worth and average net income) for determining loan eligibility.

(Sec. 107) Requires the Administrator to carry out a program to provide support to regional SBA offices in assisting small business lenders who do not participate in the SBA's preferred lender program to participate in the 7(a) program.

Title II: Certified Development Company Economic Development Loan Program - (Sec. 201) Amends the Small Business Investment Act of 1958 (SBIA) to designate the financing program authorized under title IV of the SBIA as the Certified Development Company Economic Development Loan Program.

(Sec. 203) Provides eligibility requirements for designation as a certified development company (CDC) under the SBIA, including: (1) less than 500 employees; (2) a purpose of fostering economic development to create and preserve jobs and stimulate private investment; (3) nonprofit status; (4) in good standing with all local laws; (5) full-time professional management and staff; (6) a specific area of operations; and (7) ethical requirements, including conflict of interest standards.

(Sec. 204) Defines a "rural area" for SBIA purposes as any area other than a city or town with a population greater than 50,000 and the urbanized area contiguous and adjacent to such city or town.

(Sec. 205) Includes as an SBIA public policy goal the expansion of businesses in low-income communities that would be eligible for new market tax credit investments under the Internal Revenue Code.

(Sec. 206) Allows the ownership interest of two or more owners to be combined to determine whether a small business is at least 51 percent owned by minorities, women, or veterans in order to qualify for assistance as a group listed in the public policy goals.

(Sec. 207) Permits an SBIA borrower to refinance a limited amount of existing indebtedness that was not previously guaranteed by the SBA.

(Sec. 208) Allows SBIA borrowers to provide more than the required amount of equity and to use the excess equity to reduce the amount of the first mortgage loan up to, but not less than, the amount of the SBA-guaranteed portion of the loan.

(Sec. 209) Requires any CDC which does not foreclose and liquidate defaulted loans under the SBIA to contract with a qualified third party to do so. Directs the SBA to reimburse a CDC for expenses paid in connection with such foreclosure and liquidation activities if such expenses were either approved in advance or were reasonable and appropriate.

(Sec. 210) Allows SBIA borrowers to include loan and debenture closing costs, other than borrower's attorney fees, in the debenture.

(Sec. 211) Allows a borrower to obtain maximum SBIA financing and also obtain a 7(a) loan in the maximum amount permitted under that program.

(Sec. 212) Authorizes SBIA loans for projects which: (1) reduce energy consumption by at least ten percent; or (2) increase the use of design to produce buildings that reduce the use of non-renewable resources, minimize environmental impact, and relate with the natural environment. Makes such projects eligible for the $4 million debenture under the CDC Economic Development Loan Program.

(Sec. 214) Extends through FY2008 the period during which CDCs will be permitted to: (1) base their loan loss reserves on the outstanding balance of debentures; and (2) use an alternative risk-based methodology to calculate such reserves.

MAJOR ACTIONS: lèp

3/6/2007 Introduced in House
4/20/2007 Reported (Amended) by the Committee on Small Business. H. Rept. 110-104.
4/25/2007 Passed/agreed to in House: On passage Passed by recorded vote: 380 - 45 (Roll no. 263).
5/1/2007 Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 129.
ALL ACTIONS:
3/6/2007:
Referred to the House Committee on Small Business.
3/15/2007:
Committee Consideration and Mark-up Session Held.
3/15/2007:
Ordered to be Reported (Amended) by Voice Vote.
4/20/2007 1:13pm:
Reported (Amended) by the Committee on Small Business. H. Rept. 110-104.
4/20/2007 1:13pm:
Placed on the Union Calendar, Calendar No. 64.
4/24/2007 7:25pm:
Rules Committee Resolution H. Res. 330 Reported to House. Rule provides for consideration of H.R. 1332 with 1 hour of general debate. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. Measure will be considered read. Specified amendments are in order. All points of order against the bill are waived except those arising under clause 9 or 10 of rule XXI. It shall be in order to consider as an original bill for the purpose of amendment under the five-minute rule the amendment in the nature of a substitute recommended by the Committee on Small Business now printed in the bill.
4/25/2007 4:09pm:
Rule H. Res. 330 passed House.
4/25/2007 4:33pm:
Considered under the provisions of rule H. Res. 330. (consideration: CR H4108-4120)
4/25/2007 4:33pm:
Rule provides for consideration of H.R. 1332 with 1 hour of general debate. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. Measure will be considered read. Specified amendments are in order. All points of order against the bill are waived except those arising under clause 9 or 10 of rule XXI. It shall be in order to consider as an original bill for the purpose of amendment under the five-minute rule the amendment in the nature of a substitute recommended by the Committee on Small Business now printed in the bill.
4/25/2007 4:34pm:
House resolved itself into the Committee of the Whole House on the state of the Union pursuant to H. Res. 330 and Rule XVIII.
4/25/2007 4:34pm:
The Speaker designated the Honorable Ed Pastor to act as Chairman of the Committee.
4/25/2007 4:34pm:
GENERAL DEBATE - The Committee of the Whole proceeded with one hour of general debate on H.R. 1332.
4/25/2007 5:07pm:
H.AMDT.111 Amendment (A001) offered by Mr. Matheson. (consideration: CR H4116; text: CR H4116)
Amendment includes members of the Reserve components of the Armed Forces as eligible to receive loans under the Community Express Program in section 103 of the bill and as eligible to participate in the Increased Veteran Participation Program in section 105.
4/25/2007 5:08pm:
DEBATE - Pursuant to the provisions of H.Res. 330, the Committee of the Whole proceeded with 10 minutes of debate on the Matheson amendment.
4/25/2007 5:10pm:
H.AMDT.111 On agreeing to the Matheson amendment Agreed to by voice vote.
4/25/2007 5:10pm:
H.AMDT.112 Amendment (A002) offered by Mr. Matheson. (consideration: CR H4116; text: CR H4116)
Amendment includes members of qualified Indian tribes as eligible to receive loans under the Community Express Program in section 103 of the bill.
4/25/2007 5:11pm:
DEBATE - Pursuant to the provisions of H.Res. 330, the Committee of the Whole proceeded with 10 minutes of debate on the Matheson amendment.
4/25/2007 5:13pm:
H.AMDT.112 On agreeing to the Matheson amendment Agreed to by voice vote.
4/25/2007 5:13pm:
H.AMDT.113 Amendment (A003) offered by Mr. Cuellar. (consideration: CR H4116-4117; text: CR H4116)
Amendment provides that a rural small business owner who is not within 30 miles of a rural lender can take advantage of the rural lending outreach program through any lender in the SBA 7(a) loan program.
4/25/2007 5:14pm:
DEBATE - Pursuant to the provisions of H.Res. 330, the Committee of the Whole proceeded with 10 minutes of debate on the Cuellar amendment.
4/25/2007 5:18pm:
H.AMDT.113 On agreeing to the Cuellar amendment (A003) Agreed to by voice vote.
4/25/2007 5:19pm:
H.AMDT.114 Amendment (A004) offered by Mr. Inslee. (consideration: CR H4117-4118; text: CR H4117)
Amendment expands the public policy goals under the section 504 program concerning eligibility for energy efficiency projects to include the increased use of sustainable design or low-impact design to produce buildings that reduce the use of non-renewable resources, minimize environmental impact, and relate people with the natural environment.
4/25/2007 5:20pm:
DEBATE - Pursuant to the provisions of H.Res. 330, the Committee of the Whole proceeded with 10 minutes of debate on the Inslee amendment.
4/25/2007 5:21pm:
H.AMDT.114 On agreeing to the Inslee amendment (A004) Agreed to by voice vote.
4/25/2007 5:22pm:
The House rose from the Committee of the Whole House on the state of the Union to report H.R. 1332.
4/25/2007 5:22pm:
The previous question was ordered pursuant to the rule. (consideration: CR H4105-4106)
4/25/2007 5:22pm:
The House adopted the amendment in the nature of a substitute as agreed to by the Committee of the Whole House on the state of the Union. (text: CR H4113-4116)
4/25/2007 5:23pm:
Mr. McCrery moved to recommit with instructions to Small Business.
4/25/2007 5:24pm:
DEBATE - The House proceeded with 10 minutes of debate on the McCrery motion to recommit with instructions. The instructions contained in the motion seek to require the bill to be reported back to the House with amendments inserting a new paragraph clarifying that the Administrator shall consider any small business concern that can demonstrate that it is adversely affected by a raise in the Federal minimum wage to be economically disadvantaged.
4/25/2007 5:58pm:
On motion to recommit with instructions Failed by the Yeas and Nays: 197 - 224 (Roll no. 262). (consideration: CR H4118-4119; text: CR H4118)
4/25/2007 6:05pm:
On passage Passed by recorded vote: 380 - 45 (Roll no. 263).
4/25/2007 6:06pm:
Motion to reconsider laid on the table Agreed to without objection.
4/25/2007 6:06pm:
The Clerk was authorized to correct section numbers, punctuation, and cross references, and to make other necessary technical and conforming corrections in the engrossment of H.R. 1332.
4/26/2007:
Received in the Senate.
4/30/2007:
Read the first time. Placed on Senate Legislative Calendar under Read the First Time.
5/1/2007:
Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 129.
TITLE(S):  (italics indicate a title for a portion of a bill)
COSPONSORS(7), ALPHABETICAL [followed by Cosponsors withdrawn]:     (Sort: by date)

COMMITTEE(S):
RELATED BILL DETAILS:  (additional related bills may be indentified in Status)
AMENDMENT(S):

1. H.AMDT.111 to H.R.1332 Amendment includes members of the Reserve components of the Armed Forces as eligible to receive loans under the Community Express Program in section 103 of the bill and as eligible to participate in the Increased Veteran Participation Program in section 105.
Sponsor: Rep Matheson, Jim [UT-2] (introduced 4/25/2007)      Cosponsors (None)
Latest Major Action: 4/25/2007 House amendment agreed to. Status: On agreeing to the Matheson amendment Agreed to by voice vote.

2. H.AMDT.112 to H.R.1332 Amendment includes members of qualified Indian tribes as eligible to receive loans under the Community Express Program in section 103 of the bill.
Sponsor: Rep Matheson, Jim [UT-2] (introduced 4/25/2007)      Cosponsors (None)
Latest Major Action: 4/25/2007 House amendment agreed to. Status: On agreeing to the Matheson amendment Agreed to by voice vote.

3. H.AMDT.113 to H.R.1332 Amendment provides that a rural small business owner who is not within 30 miles of a rural lender can take advantage of the rural lending outreach program through any lender in the SBA 7(a) loan program.
Sponsor: Rep Cuellar, Henry [TX-28] (introduced 4/25/2007)      Cosponsors (None)
Latest Major Action: 4/25/2007 House amendment agreed to. Status: On agreeing to the Cuellar amendment (A003) Agreed to by voice vote.

4. H.AMDT.114 to H.R.1332 Amendment expands the public policy goals under the section 504 program concerning eligibility for energy efficiency projects to include the increased use of sustainable design or low-impact design to produce buildings that reduce the use of non-renewable resources, minimize environmental impact, and relate people with the natural environment.
Sponsor: Rep Inslee, Jay [WA-1] (introduced 4/25/2007)      Cosponsors (None)
Latest Major Action: 4/25/2007 House amendment agreed to. Status: On agreeing to the Inslee amendment (A004) Agreed to by voice vote.