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HR 2056 115th Congress House Commerce Congressional oversight Government lending and loan guarantees Government studies and investigations Performance measurement Small business

Microloan Modernization Act of 2017

Introduced: April 6, 2017 See on congress.gov
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 Everywhere this bill has been 13 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 25, 2017
Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.
Jul 24, 2017
Motion to reconsider laid on the table Agreed to without objection.
Jul 24, 2017
Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.(text: CR H6180)
Jul 24, 2017
DEBATE - The House proceeded with forty minutes of debate on H.R. 2056.
Jul 24, 2017
Considered under suspension of the rules. (consideration: CR H6179-6181)
Jul 24, 2017
Mr. Chabot moved to suspend the rules and pass the bill, as amended.
Jul 24, 2017
On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H6180)
Jul 12, 2017
Placed on the Union Calendar, Calendar No. 150.
Jul 12, 2017
Reported (Amended) by the Committee on Small Business. H. Rept. 115-214.
Jun 15, 2017
Ordered to be Reported (Amended).
Jun 15, 2017
Committee Consideration and Mark-up Session Held.
Apr 6, 2017
Referred to the House Committee on Small Business.
Apr 6, 2017
Introduced in House
 Plain-English summary Congressional Research Service

(This measure has not been amended since it was reported to the House on July 12, 2017. The summary of that version is repeated here.)

Microloan Modernization Act of 2017

(Sec. 3) This bill amends the Small Business Act, with respect to the Small Business Administration (SBA) Microloan Program (assisting low-income individuals to start and operate a small business), to increase from $5 million to $6 million the total amount of loans outstanding and committed to any particular intermediary (excluding outstanding grants) from the SBA business loan and investment fund for the remaining years of the intermediary's participation in the program.

(Sec. 4) SBA-designated microloan intermediary lenders may expend up to 50% (currently, 25%) of the intensive marketing, management, and technical assistance grant funds they receive from the SBA to provide information and technical assistance to small business concerns that are their prospective borrowers.

(Sec. 5) The SBA shall:

  • compare the operations of a representative sample of eligible intermediaries that participate in the microloan program and of eligible intermediaries that do not,
  • study the reasons why the latter do not participate,
  • recommend how to encourage increased participation by intermediaries in the microloan program, and
  • recommend how to decrease the associated costs for intermediary participation.

(Sec. 6) The Government Accountability Office shall evaluate:

  • SBA oversight of the microloan program, including oversight of participating intermediaries; and
  • the specific processes the SBA uses to ensure program compliance by participating intermediaries and overall microloan program performance.
What's happening now July 25, 2017

Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.

 Committees of jurisdiction 2
 Cosponsors 8
All 8 Democratic 6 Republican 2