S. Rept. 115-437 1 (2018-12-19)

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                                                       Calendar No. 632
                  115TH CONGRESS                                    REPORT
                     2d Session JSENATE                         1   115-437





                     7(a) REAL  ESTATE   APPRAISAL   HARMONIZATION ACT


                                 DECEMBER 19, 2018.-Ordered to be printed


                        Mr. RISCH, from the Committee on Small Business and
                              Entrepreneurship, submitted the following

                                         REPORT

                                         [To accompany S. 3552]

                           [Including cost estimate of the Congressional Budget Office]
                    The  Committee  on Small  Business and  Entrepreneurship, to
                  which was referred the bill (S. 3552) to amend the Small Business
                  Act of 1953 to align the real estate appraisal threshold under the
                  section 7(a) program of the Small Business Administration with the
                  threshold used by the Federal banking regulators, and for other
                  purposes, having considered the same, reports favorably thereon
                  without amendment  and recommends  that the bill do pass.
                                         I. INTRODUCTION
                    The  7(a) Real Estate Appraisal Harmonization Act was intro-
                  duced by Chairman James  E. Risch on October 5, 2018.
                    The bill amends the Small Business Act of 1953 to align the ap-
                  praisal threshold amount for the Small Business Administration's
                  7(a) Loan Guaranty  program  to the Federal banking regulators'
                  threshold amount for commercial real estate transactions, or the
                  lesser amount of the three Federal banking regulators' (Federal Re-
                  serve System, Federal Deposit Insurance Corporation and Comp-
                  troller of the Currency) threshold for commercial real estate trans-
                  actions, if there is a discrepancy.
                    The bill was approved unanimously by a roll call vote as part of
                  a six-bill manager's package.
                            II. HISTORY (PURPOSE & NEED FOR LEGISLATION)
                    The Small Business Administration (SBA) administers a number
                  of loan programs to provide access to capital to entrepreneurs and
                     89-010

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