S. 3552 · 115th Congress
7(a) Real Estate Appraisal Harmonization Act
- Stage
- Reported from committee
- Sponsor
- James Risch
- Introduced
- 2018-10-05
- Latest action
- 2018-12-19 · By Senator Risch from Committee on Small Business and Entrepreneurship filed written report. Report No. 115-437.
Summary
7(a) Real Estate Appraisal Harmonization Act
This bill amends the Small Business Act to revise the loan amount above which a real estate appraisal is required for a commercial real property securing a small business loan. Specifically, the bill ties the amount to the federal banking regulator appraisal threshold. (Currently, an appraisal is required for a loan of more than $250,000.)