Originally published by Financial Regulation News on September 27, 2018
By DAVE KOVALESKI
The U.S. House of Representatives advanced a series of bills this week focused on helping small businesses throughout the country.
Among the recent legislation is the Small Business Access to Capital and Efficiency (ACE) Act (H.R. 6348), introduced by Reps. John Curtis (R-UT) and Dwight Evans (D-PA). The measure seeks to update the Small Business Administration’s 504/Certified Development Company Loan Program’s commercial real estate appraisal threshold. It was proposed to reduce conflicting regulations for small businesses.
Another bill included is the Real Estate Harmonization Act (H.R. 6347), sponsored by Curtis and Evans, would update SBA’s 7(a) Loan Program’s commercial real estate appraisal threshold.
Additionally, the House advanced the Expanding Contracting Opportunities for Small Businesses Act of 2018 (H.R. 6369), introduced by Reps. Roger Marshall (R-KS) and Brad Schneider (D-IL), which would increase the size of sole source contract awards for women-owned, service-disabled veteran-owned, HUBZone, and socially and economically disadvantaged small businesses. It also creates a new eligibility determination process to ensure sole source awards are made to eligible firms.
To even the subcontracting playing field, the House advanced the Incentivizing Fairness in Subcontracting Act (H.R. 6367), introduced by Reps. Al Lawson (D-FL) and Trent Kelly (R-MS), which would allow large prime contractors to take credit for subcontracting to small businesses at lower tiers. It would also establish a new dispute process for small subcontractors to bring nonpayment issues to the agency’s small business advocate.
The Small Business Innovation Protection Act of 2017 (S. 791), introduced by Sens. Gary Peters (D-MI) and James Risch (R-ID), was also approved to expand intellectual property education and training for small businesses. It is the companion bill to H.R. 2655, which passed the House in July.
“I am pleased the House passed these nine common-sense, bipartisan bills to help America’s 30 million small businesses and those they employ. These bills will ensure small businesses’ have access to capital, making it easier for them to thrive and grow. I thank the Committee Members on both sides of the aisle for their hard work and continued bipartisan commitment to putting American entrepreneurs first” House Committee on Small Business Chairman Rep. Steve Chabot (R-OH) said.