15 U.S.C. § 639b: Oversight

Summary

Beginning December 27, 2020, the Administrator must answer data or information requests from the Comptroller General of the United States within 15 days, or within a longer time if the Comptroller General allows. If the Administrator cannot meet that deadline, the Administrator must notify the Committee on Small Business and Entrepreneurship of the Senate and the Committee on Small Business of the House of Representatives before the deadline and give a detailed reason why they cannot comply. No later than 120 days after December 27, 2020, and at least twice each year after that until 2 years after December 27, 2020, the Administrator and the Secretary of the Treasury must testify before those same Senate and House small business committees about how the Act and its changes are being carried out.

Title 15, §639b

Commerce and Trade, Source: USLM XML via OLRC

(a)Compliance with oversight requirements

(1)In general

Except as provided in paragraph (2), on and after December 27, 2020, the Administrator shall comply with any data or information requests or inquiries made by the Comptroller General of the United States not later than 15 days (or such later date as the Comptroller General may specify) after receiving the request or inquiry.

(2)Exception

If the Administrator is unable to comply with a request or inquiry described in paragraph (1) before the applicable date described in that paragraph, the Administrator shall, before such applicable date, submit to the Committee on Small Business and Entrepreneurship of the Senate and the Committee on Small Business of the House of Representatives a notification that includes a detailed justification for the inability of the Administrator to comply with the request or inquiry.

(b)Testimony

Not later than the date that is 120 days after December 27, 2020, and not less than twice each year thereafter until the date that is 2 years after December 27, 2020, the Administrator and the Secretary of the Treasury shall testify before the Committee on Small Business and Entrepreneurship of the Senate and the Committee on Small Business of the House of Representatives regarding implementation of this Act and the amendments made by this Act.

Notes & Related Subsidiaries

Editorial Notes

References in Text

This Act, referred to in subsec. (b), probably means title III of div. N of Pub. L. 116–260, Dec. 27, 2020, 134 Stat. 1993, known as the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act. For complete classification of title III to the Code, see

Short Title

of 2020 Amendment note set out under section 9001 of this title and Tables. Codification Section was enacted as part of the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act, and not as part of the Small Business Act which comprises this chapter.

Statutory Notes and Related Subsidiaries

Effective Date

Section effective on Dec. 27, 2020, and applicable to loans and grants made on or after Dec. 27, 2020, see section 348 of Pub. L. 116–260, set out as an

Effective Date

of 2020 Amendment note under section 636 of this title. Definition of “Administrator” “Administrator” means the Administrator of the Small Business Administration, see section 302 of Pub. L. 116–260, set out as a note under section 9001 of this title.

§639b Oversight

Summary

Title 15, §639b

Notes & Related Subsidiaries

Editorial Notes

References in Text

Short Title

Statutory Notes and Related Subsidiaries

Effective Date

Effective Date

Citations & Metadata