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HR 6078 116th Congress House Commerce Administrative remedies Congressional oversight Government information and archives Government lending and loan guarantees Government studies and investigations Rural conditions and development Small Business Administration

Microloan Transparency and Accountability Act of 2020

Introduced: March 4, 2020 Introduced by: Burchett, Tim Republican · Tennessee See on congress.gov
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 Everywhere this bill has been 11 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Sep 15, 2020
Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.
Sep 14, 2020
Motion to reconsider laid on the table Agreed to without objection.
Sep 14, 2020
On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H4347)
Sep 14, 2020
Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.
Sep 14, 2020
DEBATE - The House proceeded with forty minutes of debate on H.R. 6078.
Sep 14, 2020
Considered under suspension of the rules. (consideration: CR H4347-4348)
Sep 14, 2020
Ms. Velazquez moved to suspend the rules and pass the bill, as amended.
Mar 11, 2020
Committee Consideration and Mark-up Session Held.
Mar 11, 2020
Ordered to be Reported by Voice Vote.
Mar 4, 2020
Introduced in House
Mar 4, 2020
Referred to the House Committee on Small Business.
 Plain-English summary Congressional Research Service

Microloan Transparency and Accountability Act of 2020

This bill modifies provisions related to the Small Business Administration's (SBA) disbursement of certain financial assistance.

Specifically, the bill establishes a 5% technical assistance grant for certain intermediaries, including intermediaries who make 25% of their loans to rural small businesses. Further, the bill requires the SBA to report certain metrics related to the disbursement of microloans to small businesses, including (1) the number, amount, and percentage of such loans that went into default in the previous year; (2) the extent to which microloans are provided to small businesses in rural areas; and (3) the average size, rate of interest, and amount of fees charged for each microloan.

What's happening now September 15, 2020

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

 Committees of jurisdiction 2
 Cosponsors 1
All 1 Democratic 1