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

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  1. Jun 9, 2025Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.Senate
  2. Jun 5, 2025Motion to reconsider laid on the table Agreed to without objection.House floor actions
  3. Jun 5, 2025On 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 recordHouse floor actions
  4. 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
  5. Jun 5, 2025On motion to recommit Failed by the Yeas and Nays: 201 - 212 (Roll no. 154). Roll call recordHouse floor actions
  6. Jun 5, 2025Considered as unfinished business. (consideration: CR H2493-2494)House floor actions
  7. Jun 5, 2025POSTPONED PROCEEDINGS - At the conclusion of debate on H.R. 2987, the Chair put the question on motion to recommit and by voice vote, announced that the noes had prevailed. Ms. Velazquez demanded the yeas and nays and the Chair postponed further proceedings until a time to be announced.House floor actions
  8. Jun 5, 2025The previous question on the motion to recommit was ordered pursuant to clause 2(b) of rule XIX.House floor actions
  9. Jun 5, 2025Ms. Velazquez moved to recommit to the Committee on Small Business. (text: CR H2491)House floor actions
  10. Jun 5, 2025The previous question was ordered pursuant to the rule.House floor actions
  11. Jun 5, 2025DEBATE - The House proceeded with one hour of debate on H.R. 2987.House floor actions
  12. Jun 5, 2025Rule provides for consideration of H.R. 2483, H.R. 2931, H.R. 2966 and H.R. 2987. The resolution provides for consideration of H.R. 2483 under a structured rule and for consideration of H.R. 2931, H.R. 2966, and H.R. 2987 under a closed rule. The resolution provides for one hour of debate and one motion to recommit on each bill.House floor actions
  13. Jun 5, 2025Considered under the provisions of rule H. Res. 458. (consideration: CR H2489-2491)House floor actions
  14. Jun 4, 2025Rule H. Res. 458 passed House.House floor actions
  15. Jun 3, 2025Rules Committee Resolution H. Res. 458 Reported to House. Rule provides for consideration of H.R. 2483, H.R. 2931, H.R. 2966 and H.R. 2987. The resolution provides for consideration of H.R. 2483 under a structured rule and for consideration of H.R. 2931, H.R. 2966, and H.R. 2987 under a closed rule. The resolution provides for one hour of debate and one motion to recommit on each bill.House floor actions
  16. May 21, 2025Placed on the Union Calendar, Calendar No. 79.House floor actions
  17. May 21, 2025Reported (Amended) by the Committee on Small Business. H. Rept. 119-107.House floor actions
  18. May 21, 2025Reported (Amended) by the Committee on Small Business. H. Rept. 119-107.Library of Congress
  19. Apr 30, 2025Ordered to be Reported (Amended) by the Yeas and Nays: 15 - 11.House committee actions
  20. Apr 30, 2025Committee Consideration and Mark-up Session HeldHouse committee actions
  21. Apr 24, 2025Referred to the House Committee on Small Business.House floor actions
  22. Apr 24, 2025Introduced in HouseLibrary of Congress
  23. Apr 24, 2025Introduced in HouseLibrary of Congress

Show key steps only

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