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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 2017

Introduced: March 2, 2017 Introduced by: Fischer, Deb Republican · Nebraska See on congress.gov
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This bill died when the 115th Congress ended
It never became law before the 115th Congress (2017–2018) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 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
 Amendments to this bill 1

1 agreed to

AmendmentSponsorPurposeStatusLatest action
SAMDT 3,397 Risch, James E. To strike section 4. Agreed to Jul 18, 2018
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 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.

 Related & companion bills 7
  • S 3256 Related bill Puerto Rico Economic Empowerment Act of 2018
  • HR 2429 Related bill Puerto Rico Task Force Economic Empowerment Act of 2017
  • HR 2488 Related bill Puerto Rico Small Business Assistance Act of 2017
  • HR 5975 Related bill Puerto Rico Economic Empowerment Act of 2018
  • HR 5515 Related bill John S. McCain National Defense Authorization Act for Fiscal Year 2019
  • S 2873 Related bill Puerto Rico Economic Empowerment Act of 2018
  • HR 2056 Identical bill Microloan Modernization Act of 2017
 Bill text 3 versions

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 6
All 6 Democratic 5 Republican 1
D
Duckworth, Tammy
Illinois · Mar 19, 2018
 D
Peters, Gary C.
Michigan · Sep 5, 2017
 D
Shaheen, Jeanne
New Hampshire · Mar 6, 2017
 D
Coons, Christopher A.
Delaware · Mar 2, 2017
 D
Gillibrand, Kirsten E.
New York · Mar 2, 2017
 R
Scott, Tim
South Carolina · Mar 2, 2017
Cite this page click to expand
APA
U.S. Congress. (2026). S. 526: Microloan Modernization Act of 2018. 115th Congress. Open America. https://openamerica.io/bill/115-S-526/
MLA
"S. 526: Microloan Modernization Act of 2018." 115th Congress, 2026, Open America, https://openamerica.io/bill/115-S-526/.
Bluebook (legal)
S. 526, 115th Cong. (2026), https://openamerica.io/bill/115-S-526/.
Markdown link
[S. 526: Microloan Modernization Act of 2018](https://openamerica.io/bill/115-S-526/)
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