Microloan Modernization Act of 2018
Bill journey · stage 1 of 5
Just introduced
What it doesSummary introduced in senate (Mar 2, 2017)
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 just happenedDec 20, 2018
By Senator Risch from Committee on Small Business and Entrepreneurship filed written report. Report No. 115-452.
Who’s behind it
- Engrossed in SenateJul 18, 2018
- Reported to SenateMar 19, 2018
- Introduced in SenateMar 2, 2017
- Dec 20, 2018Floor
By Senator Risch from Committee on Small Business and Entrepreneurship filed written report. Report No. 115-452.
Small Business and Entrepreneurship Committee - Dec 20, 2018Committee14900
By Senator Risch from Committee on Small Business and Entrepreneurship filed written report. Report No. 115-452.
Small Business and Entrepreneurship Committee - Jul 19, 2018FloorH15000
Held at the desk.
- Jul 19, 2018Floor
Message on Senate action sent to the House.
- Jul 19, 2018FloorH14000
Received in the House.
- Jul 18, 2018Floor
Passed Senate with an amendment by Voice Vote. (text: CR S5073)
- Jul 18, 2018Floor17000
Passed/agreed to in Senate: Passed Senate with an amendment by Voice Vote.(text: CR S5073)
- Jul 18, 2018Floor
The committee substitute as amended agreed to by Unanimous Consent.
- Jul 18, 2018Floor
Measure laid before Senate by unanimous consent. (consideration: CR S5072-5073)
- Mar 19, 2018Calendars
Placed on Senate Legislative Calendar under General Orders. Calendar No. 346.
- Mar 19, 2018Committee
Committee on Small Business and Entrepreneurship. Reported by Senator Risch with an amendment in the nature of a substitute. Without written report.
Small Business and Entrepreneurship Committee - Mar 19, 2018Committee14000
Committee on Small Business and Entrepreneurship. Reported by Senator Risch with an amendment in the nature of a substitute. Without written report.
Small Business and Entrepreneurship Committee - Mar 14, 2018Committee
Committee on Small Business and Entrepreneurship. Ordered to be reported with an amendment in the nature of a substitute favorably.
Small Business and Entrepreneurship Committee - Mar 2, 2017IntroReferral
Read twice and referred to the Committee on Small Business and Entrepreneurship.
Small Business and Entrepreneurship Committee - Mar 2, 2017IntroReferral10000
Introduced in Senate