US HB6078 | 2019-2020 | 116th Congress

Status

Spectrum: Bipartisan Bill
Status: Engrossed on September 15 2020 - 50% progression
Action: 2020-09-15 - Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.
Pending: Senate Small Business And Entrepreneurship Committee
Text: Latest bill text (Engrossed) [PDF]

Summary

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 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.

Tracking Information

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Title

Microloan Transparency and Accountability Act of 2020

Sponsors


History

DateChamberAction
2020-09-15SenateReceived in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.
2020-09-14HouseMotion to reconsider laid on the table Agreed to without objection.
2020-09-14HouseOn motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H4347)
2020-09-14HouseDEBATE - The House proceeded with forty minutes of debate on H.R. 6078.
2020-09-14HouseConsidered under suspension of the rules. (consideration: CR H4347-4348)
2020-09-14HouseMs. Velazquez moved to suspend the rules and pass the bill, as amended.
2020-03-11HouseOrdered to be Reported by Voice Vote.
2020-03-11HouseCommittee Consideration and Mark-up Session Held.
2020-03-04HouseReferred to the House Committee on Small Business.
2020-03-04HouseIntroduced in House

Subjects


US Congress State Sources


Bill Comments

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