Small Business Opportunity Acceleration Act of 2013

Small Business Opportunity Acceleration Act of 2013 - Amends the Small Business Act to eliminate loan guarantee fees for certain small business loans that total $150,000 or less. (Currently, the Small Business Administration [SBA] is required to collect a guarantee fee, which is payable by the participating lender, and may be charged to the borrower, of up to 2% of the deferred participation share of a such a total loan amount that is $150,000 or less.)

[Congressional Bills 113th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2462 Introduced in House (IH)]

113th CONGRESS
  1st Session
                                H. R. 2462

   To amend subsection (a) of section 7 of the Small Business Act to 
  eliminate guarantee fees for loans guaranteed under that subsection 
         where the total loan amount is not more than $150,000.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             June 20, 2013

   Ms. Hahn introduced the following bill; which was referred to the 
                      Committee on Small Business

_______________________________________________________________________

                                 A BILL


 
   To amend subsection (a) of section 7 of the Small Business Act to 
  eliminate guarantee fees for loans guaranteed under that subsection 
         where the total loan amount is not more than $150,000.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Small Business Opportunity 
Acceleration Act of 2013''.

SEC. 2. ELIMINATION OF GUARANTEE FEES FOR LOANS WITH TOTAL LOAN AMOUNTS 
              NOT MORE THAN $150,000.

    Section 7(a)(18)(A) of the Small Business Act is amended--
            (1) in subparagraph (A)--
                    (A) by striking ``With respect'' and inserting 
                ``Except as otherwise provided in this paragraph, with 
                respect''; and
                    (B) by striking clause (i);
            (2) by striking subparagraph (B); and
            (3) by adding at the end the following:
                    ``(C) No guarantee fees for certain loans.--No 
                guarantee fee shall be collected, payable, or charged 
                under this paragraph if the total loan amount is not 
                more than $150,000.''.
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