,,ii  #aae? ,,congress  #b;d ,session   
,s4 #bbhc  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,janu>y #i1 #bjah,mr4  
,ris* 7= himself & ,mrs4 ,%ahe57        
introduc$ ! foll[+ bill2 :i* 0 read     
twice & ref]r$ to ! ,committee on ,small
 ,bus9ess & ,entrepr5eur%ip  ,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$esignat+ section #dg z section #di2 & 
7#b7 by ins]t+ aft] section #df !       
foll[+3  #dg4 ,(fice ( ,cr$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 p>ticipant 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 ,! ,(fice is head$ by !       
,director ( ! ,(fice ( ,cr$it ,risk     
,managem5t 79 ?is section ref]r$ to z ! 
,director71 :o %all--  7#a7 be a c>e]   
appo9tee 9 a ,s5ior ,executive ,s]vice  
position 7z def9$ 9 section #cacb (     
title #e1 ,unit$ ,/ates ,code72 &  7#b7 
be responsible = ov]sight ( ! l5d]s &   
p>ticipants describ$ 9 subsection 7b71  
includ+ by conduct+ p]iodic reviews ( ! 
compliance & p]=mance ( ^? l5d]s &      
p>ticipants4  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  
review ( a #g7;a7 l5d] t is conduct$ by 
a contractor ( ! ,(fice on ! premises ( 
! #g7;a7 l5d]2 &  7,b7 sup]vise any     
review ( a #g7;a7 l5d] t is n conduct$  
on ! premises ( ! #g7;a7 l5d]4  7#b7    
,review report timel9e ,not)/&+ any o!r 
requirem5ts ( ! ,(fice or !             
,adm9i/rator1 ! ,adm9i/rator %all       
develop & implem5t a review report      
timel9e :i* %all--  7,a7 require !      
,adm9i/rator to-- 7i7 deliv] a writt5   
report ( ! review to ! #g7;a7 l5d] n    
lat] ?an #fj bus9ess days aft] ! date on
 :i* ! review is conduct$2 or  7ii7 if !
 ,adm9i/rator expects to submit ! report
 aft] ! end ( ! #fj-;bus9ess-day p]iod  
describ$ 9 clause 7i71 notify ! #g7;a7  
l5d] 9 writ+ ( ! expect$ submission day 
( ! report & ! reason = ! delay2 &  7,b7
 if a response by ! #g7;a7 l5d] is      
reque/$ 9 a report submitt$ "u          
subp>agraph 7,a71 require ! #g7;a7 l5d] 

to submit a response to ! ,adm9i/rator n
 lat] ?an #de bus9ess days aft] ! date  
on :i* ! #g7;a7 l5d] receives ! report4 
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 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$--  7i7 a        
requirem5t "u section #g7;a71 includ+ a 
requirem5t relat+ to cr$it else:]e1 or  
any regulation implem5t+ su* section2 or
  7ii7 any requirem5t describ$ 9 a ,/&>d
 ,op]at+ ,proc$ures ,manual or ,policy  
,notice relat$ to a program or function 

( ! ,(fice ( ,capital ,access4  7,b7    
,en=cem5t actions  7i7 ,9 g5]al ,any    
en=cem5t action tak5 ) respect to a     
#g7;a7 l5d] by ! ,director "u           
subp>agraph 7,a7-- 7,i7 %all be bas$ on 
! sev]ity or frequ5cy ( ! violation2 &  
7,,ii7 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 p>agraph 7#b7 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 ( ! ,small ,bus9ess     
#g7;a7 ,l5d+ ,ov]sight ,re=m ,act (     
#bjah1 ! ,adm9i/rator %all issue        
regulations1 aft] opportunity = notice &
 comm5t "u section #eec ( title #e1     
,unit$ ,/ates ,code1 to c>ry out        
subsection 7e74  7g7 ,s]vic+ &          
liquidation responsibilities ,dur+ any  
p]iod dur+ :i* a #g7;a7 l5d] is susp5d$ 

f p>ticipat+ "u section #g7;a71 or if a 
#g7;a7 l5d] is 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 an   
annual 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 by doll> & am\nt ( loans = !  
ye> cov]$ by ! report2  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 !   
gross & net numb] ( loans made1 & !     
gross & net doll> am\nt ( loans made2   
7,f7 ! numb] & doll> am\nt ( total      
defaults & total repur*ases1 & !        
p]c5tage & total am\nt ( recov]ies2     
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 ,effective = ! fir/ fiscal 
ye> occurr+ aft] ! date ( enactm5t ( !  
,small ,bus9ess #g7;a7 ,l5d+ ,ov]sight  

,re=m ,act ( #bjah1 & ea* fiscal ye>    
!reaft]1 ! ,director %all provide1 9    
writ+ a budget submission & ju/ification
 = ! submission to ! ,adm9i/rator1 :i*  
%all--  7#a7 include ! sal>ies & exp5ses
 ( ! ,(fice & l5d] ov]sight fees2  7#b7 
be submitt$ at or ab\t ! "t ( ! budget  
submission by ! ,presid5t "u section    
#aaje7;a7 ( title #ca1 ,unit$ ,/ates    
,code2 &  7#c7 be ma9ta9$ 9 an index$ =m
 & made available = public review = a   
p]iod ( n less ?an #e ye>s beg9n+ on !  
date ( submission4  #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/ (   
#aa memb]s appo9t$ by ! ,adm9i/rator1 ( 
:om-- 7#a7 #c memb]s %all be vot+       
memb]s1 ( :om #b %all be c>e] appo9tees 
s]v+ 9 a ,s5ior ,executive ,s]vice      
position 7z def9$ 9 section #cacb (     
title #e1 ,unit$ ,/ates ,code72 &  7#b7 
#h 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$it ,risk     
,managem5t ) respect to any l5d] mak+   
loans "u section #g7;a7 & any p>ticipant
 9 a l5d+ program ( ! ,(fice ( ,capital 
,access ( ! ,adm9i/ration2  7#c7 9 c>ry+
 out p>agraph 7#b7 ) respect to a =mal  
en=cem5t action tak5 "u subsection 7d7  
or 7e7 ( section #bc1 vote to recomm5d !
 action or vote to n recomm5d ! action  
to ! ,adm9i/rator or a designee ( !     
,adm9i/rator2  7#d7 9 c>ry+ out p>agraph
 7#b7 ) respect to any o!r =mal en=cem5t
 action n o!rwise specifi$ 9 subsection 
7d7 or 7e7 ( section #bc1 vote to       
approve1 disapprove1 or modify ! action2
  7#e7 review 9 an advisory capacity any
 l5d] ov]sight1 portfolio risk          
managem5t1 or program integrity matt]s  
br\ght by ! ,director ( ! ,(fice (      
,cr$it ,risk ,managem5t2 &  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 recomm5d a =mal      
en=cem5t action ( ! ,director ( ! ,(fice
 ( ,cr$it ,risk ,managem5t ) respect to 
a l5d]4  4  7b7 ,transf] ( functions    
7#a7 ,(fice ( ,cr$it ,risk ,managem5t   
,all functions ( ! ,(fice ( ,cr$it ,risk
 ,managem5t ( ! ,adm9i/ration1 includ+ !
 p]sonnel1 assets1 & obligations ( !    
,(fice ( ,cr$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

 ( ! ,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  7c7 ,deem+ ( "n  7#a7  
,(fice ( ,cr$it ,risk ,managem5t ,any   
ref]5ce 9 a law1 regulation1 docum5t1   
pap]1 or o!r record ( ! ,unit$ ,/ates to
 ! ,(fice ( ,cr$it ,risk ,managem5t ( ! 
,adm9i/ration %all be deem$ a ref]5ce to
 ! ,(fice ( ,cr$it ,risk ,managem5t ( ! 
,adm9i/ration e/abli%$ "u section #dg ( 
! ,small ,bus9ess ,act1 z add$ by       
subsection 7a74  7#b7 ,l5d] ,ov]sight   
,committee ,any ref]5ce 9 a law1        
regulation1 docum5t1 pap]1 or o!r record
 ( ! ,unit$ ,/ates to ! ,l5d] ,ov]sight 
,committee ( ! ,adm9i/ration %all be    
deem$ a ref]5ce to ! ,l5d] ,ov]sight    
,committee ( ! ,adm9i/ration e/abli%$ "u
 section #dh ( ! ,small ,bus9ess ,act1 z
 add$ by subsection 7a74  7d7 ,te*nical 

& con=m+ am5dm5ts ,! ,small ,bus9ess    
,act 7#ae ,u4,s4,c4 #fca et seq47 is    
am5d$-- 7#a7 9 section #c7r77#b7 7#ae   
,u4,s4,c4 #fcb7r77#b77--  7,a7 9 ?is    
p>agraph head+1 by /rik+ ,,sba2 &  7,b7 
9 ! matt] prec$+ subp>agraph 7,a71 by   
/rik+ ,,sba2 &  7#b7 9 section #ah 7#ae 
,u4,s4,c4 #fdg71 by /rik+ subsection 7b7
 & ins]t+ ! foll[+3  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  #d4 ,def9ition ( cr$it else:]e ,!    
,small ,bus9ess ,act 7#ae ,u4,s4,c4 #fca
 et seq47 is am5d$-- 7#a7 9 section #c  
7#ae ,u4,s4,c4 #fcb71 by /rik+          
subsection 7h7 & 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 small 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$it else:]e4 be=e ,no f9ancial  
assi/ance4  #e4 ,au?ority = adm9i/rator 
to increase am\nt = g5]al bus9ess loans 
,section #bj ( ! ,small ,bus9ess ,act   
7#ae ,u4,s4,c4 #fca note7 is am5d$--    
7#a7 by r$esignat+ subsection 7j7 z     
subsection 7f72 &  7#b7 by add+ at ! end
 ! foll[+3  7g7 ,au?ority ,to increase  
am\nt ( g5]al bus9ess loans  7#a7 ,9    
g5]al ,) respect to fiscal ye> #bjah &  
ea* fiscal ye> !reaft]1 if !            
,adm9i/rator det]m9es t ! am\nt (       
commitm5ts by ! ,adm9i/rator = g5]al    
bus9ess loans au?oriz$ "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 

total 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 #cj 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 ( ! ,adm9i/rator 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 ! 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 ,disclosure ( waiv]s
  7a7 ,9 g5]al ,if ! ,adm9i/rator       
ex]cises /atutory or regulatory au?ority
 to waive a regulation relat$ to a      
program or function ( ! ,(fice (        
,capital ,access ( ! ,adm9i/ration--    
7#a7 ! waiv] %all be 9 writ+ & %all     
specify ! gr\nds = approv+ ! waiv]2 &   
7#b7 ! ,adm9i/rator %all notify ! public
 ( all waiv]s ( regulations approv$ by !
 ,adm9i/ration1 :i* notice %all--  7,a7 
be publi%$ 9 ! ,f$]al ,regi/] n less ?an
 annually2  7,b7 cov] ! p]iod beg9n+ on 
! date aft] ! la/ day cov]$ by ! previ\s
 notice2  7,c7 describe ! nature ( !    
requirem5t t has be5 waiv$ & specify !  
regulation involv$2  7,d7 include a     
brief description ( ! gr\nds = approval 
( ! waiv]2 &  7,e7 /ate h[ m in=mation  
ab\t ! waiv] & a copy ( ! reque/ & !    
approval may be obta9$4  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  7c7 ,,gao /udy on /&>d  
op]at+ proc$ures manual or policy notice
 waiv] process ,n lat] ?an #a ye> aft] !
 date ( enactm5t ( ?is ,act1 !          
,comptroll] ,g5]al ( ! ,unit$ ,/ates    
%all submit to ! ,committee on ,small   
,bus9ess & ,entrepr5eur%ip ( ! ,s5ate & 
! ,committee on ,small ,bus9ess ( !     
,h\se ( ,repres5tatives a report        
evaluat+--  7#a7 ! me?ods & specific    
processes us$ by ! ,adm9i/ration to     
waive requirem5ts 9 ! ,/&>d ,op]at+     
,proc$ures ,manual or ,policy ,notices  
relat+ to loans made "u section #g7;a7 (
 ! ,small ,bus9ess ,act 7#ae ,u4,s4,c4  
#fcf7;a772 &  7#b7 ! numb] ( waiv]s     
describ$ 9 p>agraph 7#a7 grant$ dur+ !  
p]iod ( #e fiscal ye>s prec$+ ! date (  
enactm5t ( ?is ,act4