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H.R. 1482: 504 Credit Risk Management Improvement Act of 2021

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H.R. 1482: 504 Credit Risk Management Improvement Act of 2021

117th Congress · introduced 2021-03-02 · Commerce · Latest: Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.

federal

Follow this bill, step by step

  1. Where it came from: introduced 2021-03-02 · official record
  2. Who proposed it: Rep. Bishop, Dan [R-NC-9] · what a sponsor is
  3. What happened next: 1 recorded vote in our records. Latest: House roll call 119 (2021): On Motion to Suspend the Rules and Pass, HR1482 (2021-04-16), Passed. See all
  4. Where it stands now: Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship. Not final yet: this can still change. We check for updates every day.
  5. If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

504 Credit Risk Management Improvement Act of 2021

Plain summary

504 Credit Risk Management Improvement Act of 2021 This bill revises the duties of the Office of Credit Risk Management to include oversight of a certified development company (CDC) that participates in the 504 Loan Program of the Small Business Administration (SBA), and it requires the SBA to issue rules related to certain environmental requirements. The 504 Loan Program provides a small business with SBA financing—through a CDC intermediary—for expansion or modernization. Specifically, the bill requires the office to oversee any CDC that participates in the program and to conduct file reviews with respect to loan closings under the program. Further, the bill authorizes the office to take formal and informal enforcement actions against a CDC for specified violations and to charge each CDC a fee. The SBA must issue rules to clarify the procedures necessary for an eligible CDC to comply with certain environmental requirements.

Congressional Research Service summary (Passed House), quoted unchanged (nonpartisan). Read the source.

What a vote does

A “Yea” vote

If it passes both chambers and is signed, it becomes law.

A “Nay” vote

If it is not passed, current law stays as it is.

PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

504 Credit Risk Management Improvement Act of 2021

Source: Congressional Research Service summary (Passed House)

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Rep. Bishop, Dan [R-NC-9] · 5 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Angie Craig (D-MN), Young Kim (R-CA), Sharice Davids (D-KS), Claudia Tenney (R-NY), Steve Cohen (D-TN)

Recorded votes

Words on this page, explained (2)
Bill
A proposed law. It becomes law only if it passes the legislature and is signed by the president or governor (or a veto is overridden).
Rulemaking
The process agencies use to write regulations that carry out laws passed by Congress or a legislature. Usually an agency publishes a proposed rule, takes public comments, then publishes a final rule.

Plain meanings written from linked sources. All words.

Sources

Record fed-us-cong117-hr1482 · catalog fed-us-congress-bills-cong117 · updated 2026-11-15 by psicol fed-bills-cong117