WHAT THE LAW DOINCongress, in plain words

H.R. 2987 · 119th Congress

CEASE Act of 2025

Passed HouseCommerce
IntroducedApr 24, 2025
Passed HouseJun 5, 2025
Passed SenateNot yet
To PresidentNot yet
Became lawNot yet

Where it stands

Passed House. Latest step, Jun 9, 2025: Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship. The House passed it 214–198. In the House, Iowa's representatives split: Randy Feenstra yes, Ashley Hinson yes, Mariannette Miller-Meeks did not vote, Zachary Nunn yes. It would change 1 section of existing law.

How this bill changes the law

Sourced

H.R. 2987 would change 1 section of existing law. Read from the bill text as sent to the Senate (Jun 9, 2025).

15 U.S.C. 650 Supervisory and enforcement authority for small business lending companies

What the words would change: every change, in place (1)

Today's wording of each part of the law, with what would be struck out and added. Each change also gives the bill's own instruction, word for word.

  1. 15 U.S.C. 650added (k)by H.R. 2987 Sec. 2

    (k) Limitation on number of small business lending companies.— The Administrator shall ensure that not more than 16 small business lending companies that are not nonprofit entities are authorized to make loans under section 7 at any time.

    The bill says: Section 23 of the Small Business Act (15 U.S.C. 650) is amended by adding at the end the following:

    Bill text · Current law (15 U.S.C. 650)

From the bill's official text on GovInfo and the U.S. Code, 2024 edition, which may not yet show changes made since.

What it does

Sourced

Capping Excessive Awarding of SBLC Entrants Act or the CEASE Act

This bill limits the number of for-profit small business lending companies that are authorized make 7(a) loans to not more than 16 at any time.

Official summary by the Congressional Research Service (Introduced in House, Apr 24, 2025).

Our plain-language breakdown, with what it means for you and the case for and against, is written once a bill starts to move.

What has happened

Sourced
  1. Jun 5, 2025Passed/agreed to in House: On passage Passed by the Yeas and Nays: 214 - 198 (Roll no. 155). (text of amendment in the nature of a substitute: CR H2489) Roll call recordLibrary of Congress
  2. May 21, 2025Reported (Amended) by the Committee on Small Business. H. Rept. 119-107.Library of Congress
  3. Apr 24, 2025Introduced in HouseLibrary of Congress

Show all 23 recorded actions

Recorded votes

Sourced
  1. Jun 5, 2025 · HousePassed 214–198
    Iowa: Randy Feenstra yes, Ashley Hinson yes, Mariannette Miller-Meeks did not vote, Zachary Nunn yes
    On Passage · needed a majority
    R 211 yes, 0 noD 3 yes, 198 noEach member · Record
1 other recorded vote (procedure and amendments)
  1. Jun 5, 2025 · HouseFailed 201–212
    Iowa: Randy Feenstra no, Ashley Hinson no, Mariannette Miller-Meeks did not vote, Zachary Nunn no
    On Motion to Recommit · needed a majority
    R 0 yes, 212 noD 201 yes, 0 noEach member · Record