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Limiting SBA Loan System Funds for 2024

This bill aims to cap spending for the Small Business Administration's (SBA) Loan Modernization and Accounting System in fiscal year 2024. This means the agency will have a maximum of $6.1 million available for this purpose, potentially affecting the pace of technology upgrades and improvements in loan processing for entrepreneurs.
Key points
The bill sets an upper spending limit of $6.1 million for the SBA loan system in 2024.
This could slow down the modernization of the loan processing system for small businesses, impacting the speed and efficiency of processes for entrepreneurs seeking support.
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Expired
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Additional Information
Print number: 118_HR_2143
Sponsor: Rep. Biggs, Andy [R-AZ-5]
Process start date: 2023-03-29
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

To provide for a limitation on availability of funds for Independent Agencies, Small Business Administration, Loan Modernization and Accounting System for fiscal year 2024.

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_2143.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2023-03-29.

What are the main provisions?

Key points include:

  • The bill sets an upper spending limit of $6.1 million for the SBA loan system in 2024.
  • This could slow down the modernization of the loan processing system for small businesses, impacting the speed and efficiency of processes for entrepreneurs seeking support.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Biggs, Andy [R-AZ-5].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Small Business.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-24.

CATEGORIES

Economy Public Investments