S. 537 – Reading Mode | Legislate.dev

Calendar No. 169

113th CONGRESS

1st Session

S. 537

[Report No. 113–91]

IN THE SENATE OF THE UNITED STATES

March 12, 2013

Ms. Landrieu introduced the following bill; which was read twice and referred to the Committee on Small Business and Entrepreneurship

September 10, 2013

Reported by Ms. Landrieu, with amendments

Insert the part printed in italic

A BILL

To require the Small Business Administration to make information relating to lenders making covered loans publicly available, and for other purposes.

Short title

This Act may be cited as the Communicating Lender Activity Reports from the Small Business Administration Act or the CLEAR SBA Act.

SBA lender activity index

(a)

In general

Section 4 of the Small Business Act (15 U.S.C. 633) is amended by adding at the end the following:

(g)

SBA lender activity index

(1)

Definition

In this subsection, the term covered loan means a loan made or debenture issued under this Act or the Small Business Investment Act of 1958 (15 U.S.C. 661 et seq.) by a private individual or entity.

(2)

Requirement

Not later than 6 months after the date of enactment of this subsection, the Administrator shall make publicly available on the website of the Administration a user-friendly database of information relating to lenders making covered loans (to be known as the Lender Activity Index).

(3)

Data included

(A)

In general

The database made available under paragraph (2) shall include, for each lender making a covered loan—

(i)

the name of the lender;

(ii)

the number of covered loans made by the lender;

(iii)

the total dollar amount of covered loans made by the lender;

(iv)

a list of each ZIP Code in which a recipient of a covered loan made by the lender is located;

(v)

a list of the industries of the recipients to which the lender made a covered loan;

(vi)

whether the covered loan is for an existing business or a new business;

(vii)

the number and total dollar amount of covered loans made by the lender to—

(I)

small business concerns owned and controlled by women;

(II)

socially and economically disadvantaged small business concerns (as defined in section 8(a)(4)(A)); and

(III)

small business concerns owned and controlled by veterans; and

(viii)

whether the covered loan was made under section 7(a) or under the program to provide financing to small business concerns through guarantees of loans under title V of the Small Business Investment Act of 1958 (15 U.S.C. 695 et seq.).

(B)

Incorporation of data

The Administrator shall—

(i)

include in the database made available under paragraph (2) information relating to covered loans made during fiscal years 2009, 2010, 2011, 2012, and 2013; and

(ii)

incorporate information relating to covered loans on an ongoing basis.

(C)

Period of data availability

The Administrator shall retain information relating to a covered loan in the database made available under paragraph (2) until not earlier than the end of the third fiscal year beginning after the fiscal year during which the covered loan was made.

(4)

No additional burdens on lenders

The Administrator may not require lenders to submit additional information or otherwise increase burdens on lenders in order to comply with this subsection.

(b)

Sense of Congress relating to using existing funds

It is the sense of Congress that no additional funds shall be made available to carry out the amendments made by this Act.

September 10, 2013

Reported with amendments