H.R. 4508: To provide for an additional temporary extension of programs under the Small Business Act and the Small Business Investment Act of 1958

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H.R. 4508

To provide for an additional temporary extension of programs under the Small Business Act and the Small Business Investment Act of 1958

Sponsor
Rep. Nydia M. Velazquez

Date
January 27, 2010 (111th Congress, 2nd Session)

Staff Contact
Communications

Floor Situation

H.R. 4508 is expected to be considered on Wednesday, January 27, 2010, under a motion to suspend the rules, requiring a two-thirds vote for passage. The legislation was introduced by Rep. Nydia Velazquez (D-NY) on January 26, 2010.

Bill Summary

H.R. 4508 would extend the authorization of the Small Business Administration (SBA) through April 30, 2010.

Background

The current authorization for the Small Business Administration (SBA) is scheduled to expire on January 31, 2010. Congress has recently passed several short-term SBA reauthorizations. The SBA was created in 1953 to aid, counsel, and assist small businesses. The SBA operates various programs and maintains a current business loan portfolio of roughly 220,000 loans worth more than $50 billion, which makes it the largest single financial backer of U.S. businesses.

Cost

There is no Congressional Budget Office (CBO) score available yet for this bill.