Reducing Waste in National Parks Act

House Bill

H.R. 3604

119th Congress

Reducing Waste in National Parks Act

In Committee

Introduced:Sep 3, 2025

Primary Sponsor

Byron Donalds

R - FL

Cosponsors

1

Quick Stats

Policy Area

Commerce

Summary

This bill aims to expand access to affordable credit for small businesses by establishing new rules for lending institutions that participate in the Small Business Administration's 7(a) loan program. The bill requires these lenders to undergo independent audits and implement compliance programs to ensure they follow anti-money laundering and other financial regulations.

Latest Action

Referred to the House Committee on Small Business.

Introduced9/3/2025

StatusReferred to the House Committee on Natural Resources.

ChamberHouse

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Vote Prediction

Reducing Waste in National Parks Act

This bill aims to expand access to affordable credit for small businesses by establishing new rules for lending institutions that participate in the Small Business Administration's 7(a) loan program. The bill requires these lenders to undergo independent audit

Community Breakdown

Pass

0%

Fail

0%

0 predictions

This bill aims to expand access to affordable credit for small businesses by establishing new rules for lending institutions that participate in the Small Business Administration's 7(a) loan program. The bill requires these lenders to undergo independent audits and implement compliance programs to ensure they follow anti-money laundering and other financial regulations.

Bill Number: 3604
Introduced: 9/3/2025
Status: Referred to the House Committee on Natural Resources.
Policy Area: Commerce

Data from Congress.gov

AI-generated summary

Fact Sheet

Title: Reducing Waste in National Parks Act
Bill Number: 3604
Sponsor: No sponsor
Status: Referred to the House Committee on Natural Resources.
Introduced: 9/3/2025
Summary: This bill aims to expand access to affordable credit for small businesses by establishing new rules for lending institutions that participate in the Small Business Administration's 7(a) loan program. The bill requires these lenders to undergo independent audits and implement compliance programs to e

Data from Congress.gov

AI Summary

Plain-English explanation of this bill

This bill aims to expand access to affordable credit for small businesses by establishing new rules for lending institutions that participate in the Small Business Administration's 7(a) loan program. The bill requires these lenders to undergo independent audits and implement compliance programs to ensure they follow anti-money laundering and other financial regulations.

Last updated: 12/30/2025

Official Summary

Congressional Research Service summary

Expanding Access to Affordable Credit for Small Businesses Act This bill establishes rules related to the authorization of lending institutions (including banks, small business lending companies, non-federally regulated lenders, and non-depository lending institutions) to make loans under the 7(a) Program of the Small Business Administration (SBA). Under the 7(a) Program, the SBA provides business loans and loan guaranties to small business borrowers unable to obtain financing elsewhere. Specifically, the SBA must ensure that these lending institutions and other entities (1) provide an independent audit that examines adherence to all applicable federal laws and regulations regarding anti-money laundering, counterterrorist financing, sanctions, and financial crimes; and (2) implement a compliance program that is designed to conform with relevant anti-money laundering laws and regulations.

Key Points

Main provisions of the bill

Establishes rules for lenders participating in the SBA's 7(a) loan program, which provides business loans and loan guaranties to small businesses
Requires lending institutions to undergo independent audits to ensure adherence to federal laws on anti-money laundering, counterterrorist financing, sanctions, and financial crimes
Mandates that lenders implement compliance programs designed to conform with relevant anti-money laundering laws and regulations

How This Impacts Americans

Potential effects on citizens and communities

If this bill becomes law, it would impact small businesses that rely on the SBA's 7(a) loan program to access affordable credit. The new audit and compliance requirements for lenders could make the loan application process more rigorous, but may also help ensure the integrity of the program and increase access to funding for legitimate small businesses.

Policy Areas

Primary Policy Area

Commerce

Scope & Jurisdiction

Jurisdiction Level

federal

Congressional Session

119th Congress

Citation Reference

3604, 119th Congress (2025). "Reducing Waste in National Parks Act". Source: Voter's Right Platform. https://votersright.org/bills/118-hr-3604

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