Summary of Amendments Submitted to H.R. 3854 - Small Business Financing and Investment Act of 2009

Summaries Derived from Information Provided by Sponsors

Listed in Alphabetical Order

Oct 28, 2009 2:06 PM

Altmire (PA)

#11

Withdrawn Would require the SBA Administrator to consider whether an investment firm is managed by a veteran when reviewing an application for the Small Business Early-Stage Investment Program.

Baird (WA)

#42

Withdrawn Would direct the SBA Administrator to conduct a study on the business stabilization loan program and report back to Congress, within 90 days of enactment, on how the program has been implemented with recommendations on what steps should be taken to expand participation in the program by small business concerns and lenders.

Bean (IL)

#35

Withdrawn Would enable franchises with temporary workers to qualify for SBA loan programs.

Boswell (IA)

#7

Withdrawn Would allow the SBA to provide 7(a) loans and microloans for the purchasing of unoccupied manufacturing centers and unused equipment.

Bright (AL)

#3

Revised Would require each of the SBA district offices to establish a marketing plan for rural businesses regarding financing and investment alternatives, designate an employer as a Rural Business Outreach Specialist, and host at least one annual outreach seminar.

Brown-Waite (FL)

#12

Would require individuals directly engaged in loan application analysis and/or underwriting under the new Capital Backstop Program (Sec. 111) to have at least two years worth of experience in those activities.

Brown-Waite (FL)

#13

Would clarify that the Capital Backstop Program (Sec. 111) is authorized to start immediately and to operate through 2011, regardless of whether the recession is declared officially over during that time or SBA loan volume drops another 30% next year. It would restore such requirements after September 30, 2011.

Clarke (NY)

#36

Withdrawn Would increase the maximum loan amount limit for the SBA Microloan Program from $35,000 to $50,000.

Connolly (VA)

#32

Withdrawn Would direct the SBA to compile data relating to private sector lending to small businesses over the past four years and report that data to the Committee on Small Business of the House of Representatives and the Committee on Small Business and Entrepreneurship of the Senate.

Costa (CA)

#19

Withdrawn Would require the SBA Administrator to give priority for business stabilization loans to small businesses in cities with unemployment rates that are at least 125 percent of the State unemployment rate.

Cuellar (TX)

#30

Would 1) reserve 5 percent of loans to cooperatives in areas of high unemployment rates and high poverty rates, 2) require the Administrator to consider communities that lack basic services or areas of high unemployment rates, and with low medical professionals ratio for Health IT Loan Guarantee, 3) require the Administrator to treat economically distressed areas as areas of disaster for assistance, and 4) require the Administrator to establish outreach centers in communities where the ratio of small business is below the national average.

DeLauro (CT)/Clarke (NY)

#23

Would increase the maximum loan limit of SBA microloans from $35,000 to $50,000.

Flake, Jeff (AZ)

#33

Would prohibit the earmarking of grants made available through the Small Business Early-Stage Investment program.

Flake, Jeff (AZ)

#34

Would prohibit the SBA from making direct loans to private small businesses, as authorized in the Capital Backstop Program (Sec. 111).

Foxx (NC)

#16

Revised Would explicitly sunset all programs contained in the bill at the end of their authorizations or five years, whichever is earlier. The Administrator would maintain the authority to carry out responsibilities regarding all outstanding loans, grants, and other outstanding commitments made before the authorization expiration.

Gingrey (GA)

#17

Would increase from 5 years to 7 years the period to participate in the Small Business Health Information Technology Financing Program.

Israel (NY)

#8

Would increase to $12 million the maximum loan size for the 504 loan program to certified development companies (CDCs) financing projects where the small business reduces energy consumption greater than 20 percent.

Israel (NY)

#9

Would require that debentures issued by certified development companies (CDCs) in the SBA's 504 loan program meet two economic development objectives, including one that achieves energy reduction, sustainable design or renewable energy goals.

Kissell, Larry (NC)

#22

Revised Would amend Section 7(a)(7) of the Small Business Act to allow for repayment of SBA 7(A) loans (granted to small businesses after enactment of this bill) to be deferred for a maximum of 12 months from receipt of final loan disbursement if that small business concern is classified in sector 23 of the North American Industry Classification System.

Kosmas (FL)

#10

Would add “photonics technology” to the list of targeted business sectors qualified to receive grants under the Small Business Early-Stage Investment Program.

Kratovil (MD)

#40

Withdrawn Would increase the loan limit range for 7(a) small business loans currently at $1.5 million to $2 million, to the range of $2 million to $5 million. It would also ensure that no more than 30 percent of the total loan amounts provided go to loans greater than $2 million.

Kratovil (MD)

#41

Would give the SBA Administrator authority under the 7(a) program to guarantee 100 percent of loans made to veteran owned small businesses.

Langevin (RI)

#39

Would direct the SBA Administrator to establish and maintain a renewable energy and energy efficiency information clearinghouse on the SBA website. The clearinghouse would provide information on how small businesses may use more renewable energy and increase the energy efficiency of their business; the economic advantages of using more renewable energy and increasing their energy efficiency; and business and funding opportunities for small businesses in the renewable energy and energy efficiency industry.

Markey, Betsy (CO)

#5

Would permit debt re-financing for a limited period of two years from enactment for loans not backed by the SBA and were incurred for the benefit of the small business.

Massa (NY)

#31

Revised Would create youth entrepreneurship programs in the Small Business Administration to assist the development of new businesses by young people who remain in their local area.

Neugebauer (TX)

#24

Would make permanent full repeal of the estate tax, and it would permanently allow the increased Section 179 expensing allowance at $200,000 and the phase-out threshold at $800,000, indexed to inflation. It would also provide for the full deduction for the health insurance costs of self-employed individuals when determining self-employment tax.

Neugebauer (TX)

#25

Would suspend civil fines for first-time paperwork violations in specific instances under the Paperwork Reduction Act (44 U.S.C. sec. 3506).

Nye (VA), Buchanan (FL)

#6

Would allow the SBA Administrator to make loans to homeowners to be used for the repair or replacement of toxic drywall manufactured in China.

Paulsen (MN)

#1

Revised Would require a study and a report to Congress by the SBA, within one year of enactment, to determine the feasibility of a program to increase investment in the research, development and commercialization of medical technology by small businesses in a similar matter to the renewable energy program currently administered by the SBA.

Peters (MI)

#21

2nd Revised Would increase the maximum amount of stabilization loans in high unemployment areas to $75,000 and delays repayment of stabilization loans in high unemployment areas to 18 months for new loans made after enactment of this act. It would give the SBA administrator ability to designate high unemployment areas as eligible for operating assistance grants under the new market venture capital program.

Pingree (ME)

#27

Withdrawn Would require the SBA Administrator to submit to Congress, within 90 days, a report on the anticipated effects of increasing the maximum size of SBA loans.

Ryan, Tim (OH)

#26

Would allow business incubators to be included in the list of organizations that can give out assistance in disaster relief areas.

Ryan, Tim (OH)

#28

Would require the SBA Administrator to seek to increase the participation of non-profit business incubators that provide space and 'business incubator services' and their portfolio companies in the Small Business Early-Stage Investment program.

Ryan, Tim (OH)

#29

Revised Would require the SBA Administrator to seek to improve investments in counties impacted by automotive-related restructuring through the New Markets Venture Capital Program.

Schock (IL)

#14

Would require the SBA Administrator to pay the claim of a lender who demonstrates it followed the applicable requirements of the National Lender Training Program (Sec. 106), unless the SBA has clear and convincing evidence demonstrating that the lender failed to comply with regulatory requirements.

Schock (IL)

#15

Would require quarterly reports on the SBA Administrators progress towards the expansion of the Renewable Energy Capital Investment Program. It would require the SBA Administrator to establish regulations necessary to carry out the program within 180 days after enactment.

Sessions (TX)

#2

Would replace the current system for Section 179 business asset depreciation by allowing companies to choose the asset depreciation schedule that best suits their individual business.

Sestak (PA)

#4

Would increase the loan limit range for 7(a) small business loans currently at $1.5 million to $2 million, to the range of $2 million to $5 million.

Smith, Adam (WA)

#20

Withdrawn Would include State-licensed, State-certified, or nationally accredited home health care providers as qualified professionals eligible for the Small Business Health Information Technology Financing program.

Velázquez (NY), Graves (MO)

#37

Revised Would make changes to the bill to eliminate and revise provisions that the Congressional Budget Office has determined to carry a direct cost. These changes remove any direct spending from the bill.

Velázquez (NY)

#38

RevisedWould make technical and conforming changes to the bill, including clarifications of legislative intent. It also would incorporate provisions that would enhance investing in veteran-owned businesses in the New Markets Venture Capital program. It would direct the SBA to conduct a study on the efficacy of the Business Stabilization loan program that was established under the American Recovery and Reinvestment Act, a study on the existing loan size limits in the SBA’s 7(a), CDC, and Microloan, and a study on the state of private sector lending for small businesses over the past four years. It contains provisions that would enable franchises with temporary workers to qualify for SBA lending programs and would enhance the ability of small firms to use 7(a) loans to purchase unoccupied manufacturing centers or equipment. The delivery of capital with Business Stabilization loans would also be improved, with provisions that will make more loans in cities with unemployment rates that exceed state rates by 25 percent. The Health IT Financing program would also be expanded with eligibility for home health care providers.

 

 

 

Welch (VT)

#18

Would increase the SBA Express loan program cap from $350,000 to $2,000,000.