Section 1 Short title
This Act may be cited as the “504 Loan Availability Act”.
504 Loan Availability Act
A BILL
To amend the Small Business Investment Act of 1958 to modify fees and funding for certain small business refinancing loans and loans to qualified State or local development companies, and for other purposes.
Sec. 2 Modifications to fees and funding for certain small business refinancing loans and loans to qualified State or local development companies
Title V of the Small Business Investment Act of 1958 (15 U.S.C. 695 et seq.) is amended—
in section 502(7)(C) (15 U.S.C. 696(7)(C))—
in clause (ii)—
in subclause (I), by adding “and” at the end;
in subclause (II), by striking “; and” and inserting a period; and
by striking subclause (III); and
in clause (v), by striking “a total of $7,500,000,000 of financing” and inserting “the total amount described in section 511 in financing”; and
by adding at the end the following:
“511. Maximum funding level
“The Administrator may provide not more than a total, in the aggregate, of $15,000,000,000 for each fiscal year of financing to guarantee loans under section 503 and loans authorized under section 502(7)(C).”
Sec. 3 Sunset
Effective on October 1, 2026, title V of the Small Business Investment Act of 1958 (15 U.S.C. 695 et seq.) is amended—
in section 502(7)(C) (15 U.S.C. 696(7)(C)), by striking clause (v); and
by striking section 511, as added by section 2 of this Act.