US SB526 | 2017-2018 | 115th Congress

Status

Spectrum: Slight Partisan Bill (Democrat 6-2)
Status: Engrossed on July 19 2018 - 50% progression
Action: 2018-07-19 - Held at the desk.
Text: Latest bill text (Engrossed) [PDF]

Summary

Microloan Modernization Act of 2018 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.

Tracking Information

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Title

Microloan Modernization Act of 2018

Sponsors


History

DateChamberAction
2018-07-19HouseHeld at the desk.
2018-07-19HouseMessage on Senate action sent to the House.
2018-07-19HouseReceived in the House.
2018-07-18SenatePassed Senate with an amendment by Voice Vote. (text: CR S5073)
2018-07-18SenateThe committee substitute as amended agreed to by Unanimous Consent.
2018-07-18SenateS.Amdt.3397 Amendment SA 3397 agreed to in Senate by Unanimous Consent.
2018-07-18SenateS.Amdt.3397 Amendment SA 3397 proposed by Senator Rounds for Senator Risch. (consideration: CR S5073; text: CR S5073) To strike section 4.
2018-07-18SenateMeasure laid before Senate by unanimous consent. (consideration: CR S5072-5073)
2018-03-19SenatePlaced on Senate Legislative Calendar under General Orders. Calendar No. 346.
2018-03-19SenateCommittee on Small Business and Entrepreneurship. Reported by Senator Risch with an amendment in the nature of a substitute. Without written report.
2018-03-14SenateCommittee on Small Business and Entrepreneurship. Ordered to be reported with an amendment in the nature of a substitute favorably.
2017-03-02SenateRead twice and referred to the Committee on Small Business and Entrepreneurship.

Same As/Similar To

HB2056 (Same As) 2017-07-25 - Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.
HB5515 (Related) 2018-08-13 - Became Public Law No: 115-232.
SB2873 (Related) 2018-05-17 - Read twice and referred to the Committee on Finance.
HR1019 (Similar To) 2018-07-24 - Motion to reconsider laid on the table Agreed to without objection.
SB3256 (Related) 2018-07-24 - Read twice and referred to the Committee on Finance.
HB5975 (Related) 2018-05-25 - Referred to the Committee on Ways and Means, and in addition to the Committees on Small Business, Financial Services, Oversight and Government Reform, and Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
HB2429 (Related) 2017-05-22 - Referred to the Subcommittee on Health.
HB2488 (Related) 2017-05-17 - Referred to the House Committee on Small Business.
SB526 (Related) 2018-07-19 - Held at the desk.

Subjects


US Congress State Sources


Bill Comments

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