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H.R. 6348: Small Business ACE Act

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About the bill

Source: Republican Policy Committee

H.R. 6348 would update the Small Business Administration’s (SBA) 504/Certified Development Company Loan Program’s commercial real estate appraisal threshold to match the level set by federal banking regulators.

After more than two decades, federal banking regulators decided to update and modernize the real estate appraisal threshold from $250,000 to $500,000. Due to the 504/CDC Loan Program threshold value being codified in statute, H.R.6348 was introduced to modernize SBA's real estate appraisal threshold.

Sponsor and status

John Curtis

Sponsor. Representative for Utah's 3rd congressional district. Republican.

Read Text »
Last Updated: Sep 26, 2018
Length: 3 pages
Introduced:

Jul 12, 2018

Status:

Passed House (Senate next) on Sep 25, 2018

This bill passed in the House on September 25, 2018 and goes to the Senate next for consideration.

Prognosis:

31% chance of being enacted according to Skopos Labs (details)

See Instead:

S. 3553 (same title)
Ordered Reported — Oct 11, 2018

History

Jul 12, 2018
 
Introduced

Bills and resolutions are referred to committees which debate the bill before possibly sending it on to the whole chamber.

Jul 18, 2018
 
Ordered Reported

A committee has voted to issue a report to the full chamber recommending that the bill be considered further. Only about 1 in 4 bills are reported out of committee.

Sep 12, 2018
 
Reported by House Committee on Small Business

A committee issued a report on the bill, which often provides helpful explanatory background on the issue addressed by the bill and the bill's intentions.

Sep 21, 2018
 
On House Schedule

The House indicated that this bill would be considered in the week ahead.

Sep 25, 2018
 
Passed House (Senate next)

The bill was passed in a vote in the House. It goes to the Senate next. The vote was by voice vote so no record of individual votes was made.

If this bill has further action, the following steps may occur next:
 
Passed Senate

 
Signed by the President

H.R. 6348 is a bill in the United States Congress.

A bill must be passed by both the House and Senate in identical form and then be signed by the President to become law.

How to cite this information.

We recommend the following MLA-formatted citation when using the information you see here in academic work:

“H.R. 6348 — 115th Congress: Small Business ACE Act.” www.GovTrack.us. 2018. December 11, 2018 <https://www.govtrack.us/congress/bills/115/hr6348>

Where is this information from?

GovTrack automatically collects legislative information from a variety of governmental and non-governmental sources. This page is sourced primarily from Congress.gov, the official portal of the United States Congress. Congress.gov is generally updated one day after events occur, and so legislative activity shown here may be one day behind. Data via the congress project.