S 526 115th Congress Senate Commerce Congressional oversight Government lending and loan guarantees Government studies and investigations Performance measurement Small business

Microloan Modernization Act of 2018

Introduced: March 2, 2017 Introduced by: Fischer, Deb Republican · Nebraska See on congress.gov

Everywhere this bill has been 13 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Dec 20, 2018

By Senator Risch from Committee on Small Business and Entrepreneurship filed written report. Report No. 115-452.

Jul 19, 2018

Held at the desk.

Jul 19, 2018

Message on Senate action sent to the House.

Jul 19, 2018

Received in the House.

Jul 18, 2018

Passed Senate with an amendment by Voice Vote. (text: CR S5073)

Jul 18, 2018

Passed/agreed to in Senate: Passed Senate with an amendment by Voice Vote.(text: CR S5073)

Jul 18, 2018

The committee substitute as amended agreed to by Unanimous Consent.

Jul 18, 2018

Measure laid before Senate by unanimous consent. (consideration: CR S5072-5073)

Mar 19, 2018

Placed on Senate Legislative Calendar under General Orders. Calendar No. 346.

Mar 19, 2018

Committee on Small Business and Entrepreneurship. Reported by Senator Risch with an amendment in the nature of a substitute. Without written report.

Mar 14, 2018

Committee on Small Business and Entrepreneurship. Ordered to be reported with an amendment in the nature of a substitute favorably.

Mar 2, 2017

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

Mar 2, 2017

Introduced in Senate

Plain-English summary Congressional Research Service

Microloan Modernization Act of 2017

This bill amends the Small Business Act to repeal the "25/75" rule under the Small Business Administration (SBA) Microloan Program (assisting low-income individuals to start and operate a small business) that permits SBA-designated microloan intermediary lenders to expend up to 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.

The total amount of loans outstanding and committed to any particular intermediary (excluding outstanding grants) from the SBA business loan and investment fund shall be increased from $5 million to $6 million for the remaining years of the intermediary's participation in the program.

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.

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 December 20, 2018

By Senator Risch from Committee on Small Business and Entrepreneurship filed written report. Report No. 115-452.

Committees of jurisdiction 1