HR 1961 · 99th Congress · Commerce

A bill to amend Section 16 of the Small Business Act.

Introduced 1985-04-03· Sponsored by Rep. Mitchell, Parren J. [D-MD-7]· House

Bill Progress

Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Subcommittee Hearings Held.(1985-06-27)

Plain Language Summary

[AI summary unavailable — showing source text] Amends the Small Business Act to increase the fine from $5,000 to $50,000 and the term of imprisonment from two years to five years for individuals who overvalue any security or make false statements to the United States (currently to the Small Business Administration) for the purpose of obtaining a loan, contract, or subcontract under such Act.…

Summarized by Claude AI · Non-partisan · For informational purposes only