To amend the Small Business Act to codify the Community Advantage Loan Program, and for other purposes.
Analysis under review: This bill has generated analysis that may be too generic or incomplete. Clause-level evidence remains available below.
Summary
What This Bill Does
This bill, To amend the Small Business Act to codify the Community Advantage Loan Program, and for other purposes., changes federal law or congressional policy affecting financial institutions, investors, and borrowers. The main policy domain is Finance, Government Operations, Housing.
Who Benefits and How
financial institutions, investors, and borrowers may benefit from new authority, funding, eligibility, regulatory clarity, or reduced risk created by the bill.
Who Bears the Burden and How
federal implementing agencies, financial institutions, investors, and borrowers may take on implementation duties, reporting obligations, compliance costs, or oversight responsibilities.
Key Provisions
- Section HA5C2560096CF430ABA9BB5465D3D561E: 1. Short title This Act may be cited as the Community Advantage Loan Program Act of 2024.
- Section H27B3D0D2352148FBBBF6B315E7B18D53: 2. Community Advantage Loan Program Section 7(a) of the Small Business Act (15 U.S.C. 636(a)) is amended by adding at the end the following: (38)Community...
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers with clause-level evidence links.
At a Glance
What This Bill Does
This bill, To amend the Small Business Act to codify the Community Advantage Loan Program, and for other purposes., changes federal law or congressional policy affecting financial institutions, investors, and borrowers.
Key Policy Areas
Finance, Government Operations, Housing
Primary Purpose
This bill, To amend the Small Business Act to codify the Community Advantage Loan Program, and for other purposes., changes federal law or congressional policy affecting financial institutions, investors, and borrowers.
Policy Domains
Whole bill
Identified Gains
- financial institutions, investors, and borrowers
Identified Costs
- federal implementing agencies
- financial institutions, investors, and borrowers
Sponsors
Legislative Progress
IntroducedMs. Chu (for herself and Ms. Velázquez) introduced the following …
Impact analysis is available but no clear stakeholder effects identified. View clause-level analysis →
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
- "the_administrator"
- → The Administrator identified in the operative section
- "secretary_of_housing_and_urban_development"
- → Secretary of Housing and Urban Development
Key Definitions
Terms defined in this bill
each of the several States, the District of Columbia, and each territory of the United States. The term small business concern in underserved markets means a small business concern— that is located in— a low- or moderate-income community
We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.
Learn more about our methodology