HR 1113 IH

To amend the Small Business Act to direct the Administrator of the Small Business Administration to establish an office within the Administration to conduct oversight of certain loan programs, and for other purposes.

March 20, 2001

Ms. EDDIE BERNICE JOHNSON of Texas introduced the following bill; which was referred to the Committee on Small Business

To amend the Small Business Act to direct the Administrator of the Small Business Administration to establish an office within the Administration to conduct oversight of certain loan programs, and for other purposes.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

This Act may be cited as the `Small Business Loan Oversight Improvement Act'.

SEC. 2. SMALL BUSINESS LOAN OVERSIGHT OFFICE.

The Small Business Act (15 U.S.C. 637 et seq.) is amended--

(1) by redesignating section 36 as section 37; and

(2) by inserting after section 35 the following new section:

`SEC. 36. SMALL BUSINESS LOAN OVERSIGHT OFFICE.

`(a) IN GENERAL- In accordance with this section, the Administrator of the Small Business Administration shall establish an office within the Administration to conduct oversight of the loan programs authorized by section 7(a) (in this section referred to as the `loan programs').

`(b) DUTIES- The duties of the office established under subsection (a) shall include--

`(1) collection and analysis of data related to loans made under the loan programs;

`(2) identification of any abuse with respect to the loan programs;

`(3) identification of any unnecessary financial risk to the United States arising from the loan programs; and

`(4) collection and analysis of data with respect to the compliance of lenders participating in the loan programs with the Small Business Administration's program policies.

`(c) ANNUAL REPORT- Not later than 2 years after the date of enactment of the Small Business Loan Oversight Improvement Act, and annually thereafter, the Administrator of the Small Business Administration shall transmit to the Committees on Small Business and Government Reform of the House of Representatives, and the Committees on Small Business and Governmental Affairs of the Senate, a report containing--

`(1) data and analysis with respect to loans made under the loan programs during the reporting period;

`(2) any recommendations for improving the loan programs, reducing abuse of the loan programs, or reducing the financial risk to the United States under the loan programs;

`(3) data and analysis with respect to lenders participating in the loan programs; and

`(4) any other information relevant to congressional oversight of the loan programs.'

END