,,ib  ,union ,cal5d> ,no4 #ejc  #aae?   
,,congress  #b;d ,session  ,h4 ,r4 #dgdc
  ,report ,no4 #aae-fee  ,,9 ,,! ,,h\se 
,,( ,,repres5tatives  ,janu>y #i1 #bjah 
,mr4 ,*abot 7= himself & ,ms4 ,velzquez7
 introduc$ ! foll[+ bill2 :i* 0 ref]r$  
to ! ,committee on ,small ,bus9ess      
,april #bf1 #bjah;,additional sponsors3 
,mr4 ,m>%all1 ,miss ,gonzlez-,coln (    
,pu]to ,rico1 ,mrs4 ,radewag51 ,ms4     
,judy ,*u ( ,cali=nia1 ,mrs4 ,murphy (  
,florida1 ,mr4 ,espaillat1 ,mr4 ,evans1 
,ms4 ,cl>ke ( ,new ,york1 ,mr4 ,norman1 
& ,mr4 ,lawson ( ,florida  ,april #bf1  
#bjah ,report$ ) an am5dm5t1 committ$ to
 ! ,committee ( ! ,:ole ,h\se on ! ,/ate
 ( ! ,union1 & ord]$ to be pr9t$ ,/rike 
out all aft] ! enact+ clause & ins]t !  
"p pr9t$ 9 italic ,= text ( introduc$   
bill1 see copy ( bill z introduc$ on    
,janu>y #i1 #bjah  ,a ,,bill  ,to am5d !
 ,small ,bus9ess ,act to /r5g!n ! ,(fice
 ( ,cr$it ,risk ,managem5t )9 ! ,small  
,bus9ess ,adm9i/ration1 & = o!r         
purposes4  #a4 ,%ort title ,?is ,act may

 be cit$ z ! ,small ,bus9ess #g7;a7     
,l5d+ ,ov]sight ,re=m ,act ( #bjah4  #b4
 ,def9itions ,9 ?is ,act1 ! t]ms        
,adm9i/ration & ,adm9i/rator mean !     
,small ,bus9ess ,adm9i/ration & !       
,adm9i/rator !re(1 respectively4  #c4   
,codification ( ! ,(fice ( ,cr$it ,risk 
,managem5t & ! ,l5d] ,ov]sight          
,committee  7a7 ,9 g5]al ,! ,small      
,bus9ess ,act 7#ae ,u4,s4,c4 #fca et    
seq47 is am5d$-- 7#a7 by r$esignat+     
section #dg z section #di2 &  7#b7 by   
ins]t+ aft] section #df ! foll[+ new    
sections3  #dg4 ,(fice ( ,cr$it ,risk   
,managem5t  7a7 ,e/abli%m5t ,!re is     
e/abli%$ )9 ! ,adm9i/ration ! ,(fice (  
,cr$it ,risk ,managem5t 79 ?is section  
ref]r$ to z ! ,(fice74  7b7 ,duties ,!  
,(fice %all be responsible = sup]vis+-- 
7#a7 any l5d] mak+ loans "u section     
#g7;a7 79 ?is section ref]r$ to z a     
#g7;a7 l5d]72  7#b7 any ,l5d+ ,p>tn] or 
,int]m$i>y p>ticipant ( ! ,adm9i/ration 
9 a l5d+ program ( ! ,(fice ( ,capital  
,access ( ! ,adm9i/ration2 &  7#c7 any  

small bus9ess l5d+ company or a         
non-,f$]ally regulat$ l5d] )\t reg>d to 
! requirem5ts ( section #bc4  7c7       
,director  7#a7 ,9 g5]al ,! ,(fice %all 
be head$ by ! ,director ( ! ,(fice (    
,cr$it ,risk ,managem5t 79 ?is section  
ref]r$ to z ! ,director71 :o %all be a  
c>e] appo9tee 9 ! ,s5ior ,executive     
,s]vice 7z def9$ 9 section #cacb ( title
 #e1 ,unit$ ,/ates ,code74  7#b7 ,duties
 ,! ,director %all be responsible =     
ov]sight ( ! l5d]s & p>ticipants        
describ$ 9 subsection 7b71 includ+ by   
conduct+ p]iodic reviews ( ! compliance 
& p]=mance ( su* l5d]s & p>ticipants4   
7d7 ,sup]vision duties = #g7;a7 l5d]s ,)
 respect to #g7;a7 l5d]s1 an employee ( 
! ,(fice %all-- 7#a7 be pres5t = &      
sup]vise any su* review t is conduct$ by
 a contractor ( ! ,(fice on ! premise ( 
! #g7;a7 l5d]2 &  7#b7 sup]vise any su* 
review t is n conduct$ on ! premise ( ! 
#g7;a7 l5d]4  7e7 ,en=cem5t au?ority    
aga9/ #g7;a7 l5d]s  7#a7 ,in=mal        
en=cem5t au?ority ,! ,director may take 

an in=mal en=cem5t action aga9/ a #g7;a7
 l5d] if ! ,director f9ds t ! #g7;a7    
l5d] has violat$ a /atutory or          
regulatory requirem5t "u section #g7;a7 
or any requirem5t 9 a ,/&>d ,op]at+     
,proc$ures ,manual or ,policy ,notice   
relat$ to a program or function ( !     
,(fice ( ,capital ,access4  7#b7 ,=mal  
en=cem5t au?ority  7,a7 ,9 g5]al ,) !   
approval ( ! ,l5d] ,ov]sight ,committee 
e/abli%$ "u section #dh1 ! ,director may
 take a =mal en=cem5t action aga9/ any  
#g7;a7 l5d] if ! ,director f9ds t !     
#g7;a7 l5d] has violat$--  7i7 a        
/atutory or regulatory requirem5t "u    
section #g7;a71 includ+ a requirem5t    
relat+ to cr$it else:]e2 or  7ii7 any   
requirem5t describ$ 9 a ,/&>d ,op]at+   
,proc$ures ,manual or ,policy ,notice1  
relat$ to a program or function ( !     
,(fice ( ,capital ,access4  7,b7        
,en=cem5t actions ,an en=cem5t action   
impos$ on a #g7;a7 l5d] by ! ,director  
"u subp>agraph 7,a7 %all be bas$ on !   
sev]ity or frequ5cy ( ! violation & may 

include assess+ a civil monet>y p5alty  
aga9/ ! #g7;a7 l5d] 9 an am\nt t is n   
great] ?an #bej1jjj4  7#c7 ,appeal by   
l5d] ,a #g7;a7 l5d] may appeal an       
en=cem5t action impos$ by ! ,director   
describ$ 9 ?is subsection to ! ,(fice ( 
,he>+s & ,appeals e/abli%$ "u section   
#e7;i7 or to an appropriate di/rict c\rt
 ( ! ,unit$ ,/ates4  7f7 ,regulations ,n
 lat] ?an #a ye> aft] ! date ( !        
enactm5t ( ?is section1 ! ,adm9i/rator  
%all issue regulations1 aft] opportunity
 = notice & comm5t1 to c>ry out         
subsection 7e74  7g7 ,s]vic+ &          
liquidation responsibilities ,dur+ any  
p]iod dur+ :i* a #g7;a7 l5d] is susp5d$ 
or o!rwise prohibit$ f mak+ loans "u    
section #g7;a71 ! #g7;a7 l5d] %all rema9
 obligat$ to ma9ta9 all s]vic+ &        
liquidation activities delegat$ to !    
l5d] by ! ,adm9i/rator1 unless o!rwise  
specifi$ by ! ,director4  7h7 ,portfolio
 risk analysis ( #g7;a7 loans  7#a7 ,9  
g5]al ,! ,director %all annually conduct
 a risk analysis ( ! portfolio ( !      

,adm9i/ration ) respect to all loans    
gu>ante$ "u section #g7;a74  7#b7       
,report to ,congress ,on ,decemb] #a1   
#bjah1 & e ,decemb] #a !reaft]1 !       
,director %all submit to ,congress a    
report conta9+ ! results ( ea* portfolio
 risk analysis conduct$ "u p>agraph 7#a7
 dur+ ! fiscal ye> prec$+ ! submission (
 ! report1 :i* %all include--  7,a7 an  
analysis ( ! ov]all program risk ( loans
 gu>ante$ "u section #g7;a72  7,b7 an   
analysis ( ! program risk1 set =?       
sep>ately by indu/ry conc5tration2  7,c7
 )\t id5tify+ individual #g7;a7 l5d]s by
 "n1 a consolidat$ analysis ( ! risk    
creat$ by ! individual #g7;a7 l5d]s     
responsible = n less ?an #a p]c5t ( !   
gross loan approvals set =? sep>ately = 
! ye> cov]$ by ! report by--  7i7 !     
doll> value ( ! loans made by su* #g7;a7
 l5d]s2 &  7ii7 ! numb] ( loans made by 
su* #g7;a7 l5d]s2  7,d7 /eps tak5 by !  
,adm9i/rator to mitigate ! risks        
id5tifi$ 9 subp>agraphs 7,a71 7,b71 &   
7,c72  7,e7 ! numb] ( #g7;a7 l5d]s1 !   

numb] ( loans made1 & ! gross & net     
doll> am\nt ( loans made2  7,f7 ! numb] 
& doll> am\nt ( total losses1 ! numb] & 
doll> am\nt ( total pur*ases1 & !       
p]c5tage & doll> am\nt ( recov]ies at ! 
,adm9i/ration2  7,g7 ! numb] & type (   
en=cem5t actions recomm5d$ by !         
,director2  7,h7 ! numb] & type (       
en=cem5t actions approv$ by ! ,l5d]     
,ov]sight ,committee e/abli%$ "u section
 #dh2  7,i7 ! numb] & type ( en=cem5t   
actions disapprov$ by ! ,l5d] ,ov]sight 
,committee2 &  7,j7 ! numb] & doll>     
am\nt ( civil monet>y p5alties assess$4 
7i7 ,budget submission & ju/ification ,!
 ,director %all annually provide1 9     
writ+1 a fiscal ye> budget submission = 
! ,(fice & a ju/ification = su*         
submission to ! ,adm9i/rator4 ,su*      
submission & ju/ification %all--  7#a7  
include sal>ies & exp5ses ( ! ,(fice & !
 *>ge = ! l5d] ov]sight fees2  7#b7 be  
submitt$ at or ab\t ! "t ( ! budget     
submission by ! ,presid5t "u section    
#aaje7;a7 ( title #ca2 &  7#c7 be       

ma9ta9$ 9 an index$ =m & made available 
= public review = a p]iod ( n less ?an  
#e ye>s beg9n+ on ! date ( submission & 
ju/ification4  #dh4 ,l5d] ,ov]sight     
,committee  7a7 ,e/abli%m5t ,!re is     
e/abli%$ )9 ! ,adm9i/ration ! ,l5d]     
,ov]sight ,committee 79 ?is section     
ref]r$ to z ! ,committee74  7b7         
,memb]%ip ,! ,committee %all consi/ ( at
 lea/ #h memb]s select$ by !            
,adm9i/rator1 ( :i*-- 7#a7 #c memb]s    
%all be vot+ memb]s1 #b ( :om %all be   
c>e] appo9tees 9 ! ,s5ior ,executive    
,s]vice 7z def9$ 9 section #cacb ( title
 #e1 ,unit$ ,/ates ,code72 &  7#b7 !    
rema9+ memb]s %all be nonvot+ memb]s :o 
%all s]ve 9 an advisory capacity on !   
,committee4  7c7 ,duties ,! ,committee  
%all-- 7#a7 review reports on l5d]      
ov]sight activities2  7#b7 review =mal  
en=cem5t action recomm5dations ( !      
,director ( ! ,(fice ( ,cr$it ,risk     
,managem5t ) respect to any l5d] mak+   
loans "u section #g7;a7 & any ,l5d+     
,p>tn] or ,int]m$i>y p>ticipant ( !     

,adm9i/ration 9 a l5d+ program ( !      
,(fice ( ,capital ,access ( !           
,adm9i/ration2  7#c7 9 c>ry+ out        
p>agraph 7#b7 ) respect to =mal en=cem5t
 actions tak5 "u subsection 7d7 or 7e7 (
 section #bc1 vote to recomm5d or n     
recomm5d action to ! ,adm9i/rator or a  
designee ( ! ,adm9i/rator2  7#d7 9 c>ry+
 out p>agraph 7#b7 ) respect to any =mal
 en=cem5t action n specifi$ "u          
subsection 7d7 or 7e7 ( section #bc1    
vote to approve1 disapprove1 or modify !
 action2  7#e7 review1 9 an advisory    
capacity1 any l5d] ov]sight1 portfolio  
risk managem5t1 or program integrity    
matt]s br\ght by ! ,director2 &  7#f7   
take su* o!r actions & p]=m su* o!r     
functions z may be delegat$ to !        
,committee by ! ,adm9i/rator4  7d7      
,meet+s  7#a7 ,9 g5]al ,! ,committee    
%all meet z necess>y1 b n less frequ5tly
 ?an on a qu>t]ly basis4  7#b7 ,reports 
,! ,committee %all submit to !          
,adm9i/rator a report detail+ ea* meet+ 
( ! ,committee1 includ+ if ! ,committee 

does or does n vote to approve a =mal   
en=cem5t action ( ! ,director ( ! ,(fice
 ( ,cr$it ,risk ,managem5t ) respect to 
a l5d]4  4  7b7 ,sup]vision duties =    
#g7;a7 l5d]s ,effective ,janu>y #a1     
#bjai1 subsection 7d7 ( section #dg 7z  
add$ by subsection 7a77 is am5d$ to read
 z foll[s3  7d7 ,sup]vision duties =    
#g7;a7 l5d]s  7#a7 ,reviews ,) respect  
to #g7;a7 l5d]s1 an employee ( ! ,(fice 
%all-- 7,a7 be pres5t = & sup]vise any  
su* review t is conduct$ by a contractor
 ( ! ,(fice on ! premise ( ! #g7;a7     
l5d]2 &  7,b7 sup]vise any su* review t 
is n conduct$ on ! premise ( ! #g7;a7   
l5d]4  7#b7 ,review report timel9e  7,a7
 ,9 g5]al ,not)/&+ any o!r requirem5ts (
 ! ,(fice or ! ,adm9i/rator1 !          
,adm9i/rator %all develop & implem5t a  
review report timel9e :i* %all--  7i7   
require ! ,adm9i/rator to-- 7,i7 deliv] 
a writt5 report ( ! review to ! #g7;a7  
l5d] n lat] ?an #fj bus9ess days aft] ! 
date on :i* ! review is conclud$2 or    
7,,ii7 if ! ,adm9i/rator expects to     

submit ! report aft] ! end ( ! #fj-;day 
p]iod describ$ 9 clause 7i71 notify !   
#g7;a7 l5d] ( ! expect$ date (          
submission ( ! report & ! reason = !    
delay2 &  7ii7 if a response by ! #g7;a7
 l5d] is reque/$ 9 a report submitt$ "u 
subp>agraph 7,a71 require ! #g7;a7 l5d] 
to submit responses to ! ,adm9i/rator n 
lat] ?an #de bus9ess days aft] ! date on
 :i* ! #g7;a7 l5d] receives ! report4   
7,b7 ,ext5sion ,! ,adm9i/rator may ext5d
 ! "t frame describ$ 9 subp>agraph      
7,a77i77,,ii7 ) respect to a #g7;a7 l5d]
 z ! ,adm9i/rator det]m9es necess>y4  4 
7c7 ,transf] ( functions  7#a7 ,(fice ( 
,cr$it ,risk ,managem5t ,all functions (
 ! ,(fice ( ,cr$it ,risk ,managem5t ( ! 
,small ,bus9ess ,adm9i/ration1 includ+ !
 p]sonnel1 assets1 & obligation ( !     
,(fice ( ,cr$it ,risk ,managem5t1 z 9   
exi/5ce on ! day be=e ! date ( !        
enactm5t ( ?is ,act1 %all be transf]r$  
to ! ,(fice ( ,cr$it ,risk ,managem5t   
e/abli%$ "u section #dg ( ! ,small      
,bus9ess ,act1 z add$ by subsection 7a74

  7#b7 ,l5d] ,ov]sight ,committee ,all  
functions ( ! ,l5d] ,ov]sight ,committee
 ( ! ,small ,bus9ess ,adm9i/ration1     
includ+ ! p]sonnel1 assets1 &           
obligations ( ! ,l5d] ,ov]sight         
,committee1 z 9 exi/5ce on ! day be=e ! 
date ( ! enactm5t ( ?is ,act1 %all be   
transf]r$ to ! ,l5d] ,ov]sight          
,committee e/abli%$ "u section #dh ( !  
,small ,bus9ess ,act1 z add$ by         
subsection 7a74  7d7 ,deem+ ( "n  7#a7  
,(fice ( ,cr$it ,risk ,managem5t ,any   
ref]5ce 9 a law1 regulation1 guidance1  
docum5t1 pap]1 or o!r record ( ! ,unit$ 
,/ates to ! ,(fice ( ,cr$it ,risk       
,managem5t ( ! ,small ,bus9ess          
,adm9i/ration %all be deem$ a ref]5ce to
 ! ,(fice ( ,cr$it ,risk ,managem5t1    
e/abli%$ "u section #dg ( ! ,small      
,bus9ess ,act1 z add$ by subsection 7a74
  7#b7 ,l5d] ,ov]sight ,committee ,any  
ref]5ce 9 a law1 regulation1 guidance1  
docum5t1 pap]1 or o!r record ( ! ,unit$ 
,/ates to ! ,l5d] ,ov]sight ,committee (
 ! ,small ,bus9ess ,adm9i/ration %all be

 deem$ a ref]5ce to ! ,l5d] ,ov]sight   
,committee1 e/abli%$ "u section #dh ( ! 
,small ,bus9ess ,act1 z add$ by         
subsection 7a74  7e7 ,te*nical am5dm5t  
,section #c7r77#b7 ( ! ,small ,bus9ess  
,act 7#ae ,u4,s4,c4 #fcb7r77#b77 is     
am5d$ by /rik+ regulat$ ,,sba l5d] ea*  
place x appe>s 9 head+ & text & ins]t+  
regulat$ l5d]4  #d4 ,def9ition ( cr$it  
else:]e  7a7 ,9 g5]al ,! ,small ,bus9ess
 ,act 7#ae ,u4,s4,c4 #fca et seq47 is   
am5d$--  7#a7 by /rik+ section #c7;h7   
7#ae ,u4,s4,c4 #fcb7;h77 & ins]t+ !     
foll[+3  7h7 ,! t]m cr$it else:]e       
means--  7#a7 = ! purposes ( ?is ,act   
7except z us$ 9 section #g7;b771 !      
availability ( cr$it on reasonable t]ms 
& conditions to ! individual loan       
applicant f non-,f$]al1 non-,/ate1 or   
non-local gov]nm5t s\rces1 consid]+     
factors associat$ ) conv5tional l5d+    
practices1 includ+--  7,a7 ! bus9ess    
indu/ry 9 :i* ! loan applicant op]ates2 
7,b7 :e!r ! loan applicant is an        
ent]prise t has be5 9 op]ation = a p]iod

 ( n m ?an #b ye>s2  7,c7 ! adequacy ( !
 collat]al available to secure ! reque/$
 loan2  7,d7 ! loan t]m necess>y to     
reasonably assure ! ability ( ! loan    
applicant to repay ! debt f ! actual or 
project$ ca% fl[ ( ! bus9ess2 &  7,e7   
any o!r factor relat+ to ! p>ticul>     
cr$it application1 z docum5t$ 9 detail  
by ! l5d]1 t _c be ov]come except ?r\gh 
obta9+ a ,f$]al loan gu>antee "u prud5t 
l5d+ /&>ds2 &  7#b7 = ! purposes (      
section #g7;b71 ! availability ( cr$it  
on reasonable t]ms & conditions f       
non-,f$]al s\rces tak+ into consid]ation
 ! prevail+ rates & t]ms 9 ! community 9
 or ne> :]e ! applicant bus9ess conc]n  
transacts bus9ess1 or ! applicant       
home[n] resides1 = simil> purposes &    
p]iods ( "t4  2 &  7#b7 9 section       
#g7;a77#a77;,a77i7 7#ae ,u4,s4,c4       
#fcf7;a77#a77;,a77i771 by ins]t+ ,!     
,adm9i/rator has ! au?ority to direct1 &
 conduct ov]sight =1 ! me?ods by :i*    
l5d]s det]m9e :e!r a borr[] is able to  
obta9 cr$it else:]e4 be=e ,no f9ancial  

assi/ance4  7b7 ,te*nical am5dm5t       
,section #ah7;b7 ( ! ,small ,bus9ess    
,act 7#ae ,u4,s4,c4 #fdg7;b77 is am5d$  
to read z foll[s3  7b7 ,z us$ 9 ?is     
,act1 ! t]m agricultural ent]prises     
means ^? small bus9ess conc]ns engag$ 9 
! production ( food & fib]1 ran*+1 &    
rais+ ( live/ock1 aquaculture1 & all o!r
 f>m+ & agricultural-relat$ indu/ries4  
4  #e4 ,au?ority = ,adm9i/rator to      
increase am\nt = g5]al bus9ess loans    
,section #bj ( ! ,small ,bus9ess ,act   
7#ae ,u4,s4,c4 #fca note7 is am5d$--    
7#a7 by r$esignat+ subsection 7j7 z     
subsection 7f72 &  7#b7 by add+ at ! end
 ! foll[+ new subsection3  7g7 ,au?ority
 ,to increase am\nt ( g5]al bus9ess     
loans  7#a7 ,9 g5]al ,) respect to      
fiscal ye> #bjah & ea* fiscal ye>       
!reaft]1 if ! ,adm9i/rator det]m9es t ! 
am\nt ( commitm5ts by ! ,adm9i/rator =  
g5]al bus9ess loans au?oriz$ "u section 
#g7;a7 = a fiscal ye> c\ld exce$ ! limit
 on ! total am\nt ( commitm5ts !        
,adm9i/rator may make = ^? loans "u ?is 

,act1 an appropriations ,act1 or any o!r
 provision ( law1 ! ,adm9i/rator may    
make commitm5ts = ^? loans = t fiscal   
ye> 9 an aggregate am\nt equal to n m   
?an #aae p]c5t ( t limit4  7#b7         
,approval requir$ be=e ex]cis+ au?ority 
7,a7 ,9 g5]al ,n lat] ?an #ae days be=e 
! date on :i* ! ,adm9i/rator int5ds to  
ex]cise ! au?ority "u p>agraph 7#a71 !  
,adm9i/rator %all submit notice ( int5t 
to ex]cise ! au?ority to--  7i7 !       
,committee on ,small ,bus9ess &         
,entrepr5eur%ip & ! ,subcommittee on    
,f9ancial ,s]vices & ,g5]al ,gov]nm5t ( 
! ,committee on ,appropriations ( !     
,s5ate2 &  7ii7 ! ,committee on ,small  
,bus9ess & ! ,subcommittee on ,f9ancial 
,s]vices & ,g5]al ,gov]nm5t ( !         
,committee on ,appropriations ( ! ,h\se 
( ,repres5tatives4  7,b7 ,approval ,!   
,adm9i/rator may n ex]cise ! au?ority "u
 p>agraph 7#a7 unless su* ex]cise (     
au?ority has be5 approv$1 9 writ+1 by ! 
,committee on ,appropriations & !       
,committee on ,small ,bus9ess &         

,entrepr5eur%ip ( ! ,s5ate & !          
,committee on ,appropriations & !       
,committee on ,small ,bus9ess ( ! ,h\se 
( ,repres5tatives4  7#c7 ,limitation ,! 
,adm9i/rator %all n ex]cise ! au?ority  
"u p>agraph 7#a7 m ?an once dur+ any    
fiscal ye>4  4  #f4 ,e/abli%+ a process 
= waiv]s  7a7 ,9 g5]al ,if !            
,adm9i/rator ex]cises /atutory or       
regulatory au?ority to waive a          
regulation or a requirem5t 9 ! ,/&>d    
,op]at+ ,proc$ures ,manual or ,policy   
,notice relat$ to a program or function 
( ! ,(fice ( ,capital ,access ( !       
,adm9i/ration1 ! waiv] %all be 9 writ+ &
 be ma9ta9$ 9 an index$ =m4  7b7 ,no new
 waiv] au?ority ,no?+ 9 subsection 7a7  
%all be con/ru$ z creat+ new au?ority = 
! ,adm9i/rator to waive regulations ( ! 
,adm9i/ration4  ,april #bf1 #bjah       
,report$ ) an am5dm5t1 committ$ to !    
,committee ( ! ,:ole ,h\se on ! ,/ate ( 
! ,union1 & ord]$ to be pr9t$