1. Short title This Act may be cited as the 504 Credit Risk Management Improvement Act of 2023 . 2. Enhancements to the Office of Credit Risk Management Section 47 of the Small Business Act ( 15 U.S.C. 657t ) is amended— (1) by striking subsection (b) and inserting the following: (b) Duties The Office— (1) shall be responsible for— (A) supervising— (i) any lender making loans under section 7(a) (in this section referred to as a 7(a) lender ); (ii) any Lending Partner or Intermediary participant of the Administration in a lending program of the Office of Capital Access of the Administration; (iii) any small business lending company or a non-Federally regulated lender without regard to the requirements of section 23; and (iv) any certified development company described under the program established under title V of the Small Business Investment Act of 1958 ( 15 U.S.C. 695 et seq. ) (referred to in this section as a certified development company ), as provided in subsection (k); and (B) conducting file reviews with respect to loan closings under the program established under title V of the Small Business Investment Act of 1958 ( 15 U.S.C. 695 et seq. ), as provided in subsection (j); and (2) may— (A) take formal and informal enforcement actions against a certified development company, as provided in subsection (l); and (B) charge a certified development company a fee, as provided in subsection (m).