HB10352: 504 Program Level Flexibility Act
- 1Introduced (current step)
- 2Passed One Chamber
- 3Passed Both Chambers
- 4Became Law
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Bill information
Summary
To amend the Small Business Investment Act of 1958 to allow the Administrator of the Small Business Administration the authority to increase amount of commitments to qualified State or local development companies, and for other purposes.
Plain-language summary
This bill would give the Small Business Administration (SBA) more flexibility to increase how much money it commits to state and local development companies under the 504 program. The 504 program helps small businesses get loans for real estate and equipment by partnering with the SBA and local development companies. Right now, there are limits on how much the SBA can commit to these companies. This bill would let the SBA administrator raise those limits if they think it's appropriate. The bill was introduced in Congress and is currently awaiting review.
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HB10352: 504 Program Level Flexibility Act