Section 1 Short title
This Act may be cited as the “SBA Collections Act of 2023”.
SBA Collections Act of 2023
A BILL
To prohibit the Small Business Administration from suspending collections on Paycheck Protection Program loans and economic injury disaster loans related to COVID–19.
Sec. 2 Prohibition on suspending collections on SBA loans related to COVID–19
Definitions— In this section:
Administrator— The term Administrator means the Administrator of the Small Business Administration.
Covered loan— The term covered loan means—
a loan guaranteed under paragraph (36) or (37) of section 7(a) of the Small Business Act (15 U.S.C. 636(a)); and
a loan made under section 7(b)(2) of the Small Business Act (15 U.S.C. 636(b)(2)) related to COVID–19.
Department— The term Department means the Department of the Treasury.
Prohibition of the Administrator—
In general— The Administrator may not discharge, suspend, or end collection action on any claim related to a covered loan.
Referral— The Administrator shall refer to the Department any claim related to a covered loan for which the Administrator could use the authorities provided in section 3711 of title 31, United States Code, to discharge, suspend, or end that claim, but for the prohibition under paragraph (1).
Department of Treasury determination— The Department shall—
retain the authorities provided in section 3711 of title 31, United States Code, or any similar provision of law; and
render a final decision as to discharge, suspend, end, or make collection on a claim referred to the Department under subsection (b)(2).
Briefings and testimony—
Monthly briefings— Not later than 30 days after the date of enactment of this Act, and every 30 days thereafter, the Administrator shall brief the Committee on Small Business and Entrepreneurship of the Senate and the Committee on Small Business of the House of Representatives on the progress of the Administrator in pursuing the collection of claims related to covered loans and transferring claims to the Department of the Treasury for collection in accordance with subchapter II of chapter 37 of title 31, United States Code.
Testimony—
In general— The Administrator shall testify annually before the Committee on Small Business and Entrepreneurship of the Senate and the Committee on Small Business of the House of Representatives on the implementation of collections of claims related to covered loans.
Nondelegation— The Administrator may not delegate the responsibility under subparagraph (A) to any other individual.