H. R. 5971
IN THE HOUSE OF REPRESENTATIVES
July 28, 2006
Mrs. Kelly (for herself and Mrs. Johnson of Connecticut) introduced the following bill; which was referred to the Committee on Small Business
To establish the Health Information Technology Loan Program within the Small Business Administration.
This Act may be cited as the
HIT for Small Business Health Care
Providers Act of 2006.
Health Information Technology Loan Program
For each of fiscal years 2007 and 2008, the Administrator of the Small Business Administration shall ensure that a portion of the total loan amounts secured by the Administration under the Microloan program and under the 504 loan program, respectively, are secured by guarantees that comply with this section. The portion shall be not less than—
$1,250,000, for the Microloan program; and
$10,000,000, for the 504 loan program.
In this section:
The term Microloan program means the Microloan program carried out under section 7(m) of the Small Business Act.
The term 504 loan program means the program (commonly referred to as the 504 loan program) to provide financing to small business concerns by guarantees of loans under title V of the Small Business Investment Act of 1958 (15 U.S.C. 695 et seq.).
A guarantee complies with this section if—
the purpose of the guarantee is to help a small business acquire capital for the purchase of materials relating to health information technology;
that purchase of materials described in paragraph (1) is made pursuant to a plan that has been certified by the Certification Commission for Healthcare Information Technology; and
the guarantee otherwise complies with the requirements of the loan program, except that the amount of the guarantee, in the case of a guarantee under the 504 loan program, may not exceed $75,000.
The Inspector General of the Administration shall periodically review a representative sample of loans guaranteed under this section to mitigate the risk of fraud and ensure the safety and soundness of the implementation of this section.
Not later than January 31 of each year, the Administrator shall submit to the Committee on Small Business of the House of Representatives and the Committee on Small Business and Entrepreneurship of the Senate a report on the activities carried out under this section during the most recently completed fiscal year. The report shall include information relating to—
the total number of loans guaranteed under this section; and
for each loan guaranteed under this section—
the amount of the loan;
the geographic location, size, and type of small business of the borrower; and
the materials relating to health information technology that were purchased through the loan.
The Administrator shall issue guidelines for the implementation of this Act. The initial guidelines shall be issued not later than 60 days after the date of the enactment of this Act.