“A bill to require interagency coordination to support housing industry business, and for other purposes.”
No CRS summary available for this bill.
This section defines key terms used in the Act, including "housing industry small business" (i.e., a small business concern, as defined in section 3 of the Small Business Act (15 U.S.C. 632), in the housing industry that contributes to housing supply and affordability, such as residential and multifamily homebuilders, developers, general and specialty contractors, property managers and owners, housing startups, and home improvement and repair businesses).
This section states congressional findings that (1) the Administration and the Department share a mutual interest in supporting housing industry small businesses, (2) there is a severe shortage of affordable and quality housing in the United States, (3) the majority of American homebuilders and specialty contractors are small business concerns, and (4) homebuilders, contractors, and other housing industry small businesses play a significant role in increasing housing supply.
This section directs the Small Business Administration (SBA) Administrator, in coordination with the Secretary of Housing and Urban Development, to (1) expand access to capital for housing industry small businesses, including rural and underserved businesses; (2) streamline technical assistance, resources, and counseling services; (3) increase awareness and access to SBA and departmental financial and technical assistance programs; and (4) reduce barriers to starting and growing such businesses. It further requires the Administrator and Secretary, not later than 180 days after enactment, to develop and submit to the appropriate congressional committees—and make publicly available—an interagency plan, developed in partnership with state and local governments, housing industry small businesses, resource partners, and community organizations, that (1) examines gaps in financial and technical assistance; (2) proposes reforms to expand access to SBA loans under sections 7(a) and 7(m) of the Small Business Act (15 U.S.C. 636(a), (m)) and section 502 of the Small Business Investment Act (15 U.S.C. 696), or new loan products; (3) identifies new programming or resources tailored to housing industry small businesses, such as joint trainings; (4) establishes processes for information sharing and best practices; (5) coordinates support among resource partners including small business development centers, women's business centers, veteran business outreach centers, and SCORE chapters; and (6) supports housing-related startups, including via the Small Business Innovation Research and Small Business Technology Transfer programs (15 U.S.C. 638) or new initiatives.