3.0.0 3020 2023-01-11T21:19:29Z 2023-01-11T21:19:29Z House H HR 2007-07-12 110 sssb00 Small Business and Entrepreneurship Committee Senate Standing Referred to 2007-09-05T20:25:16Z hssm00 Small Business Committee House Standing Reported by 2007-09-04T18:43:42Z Markup by 2007-07-19T13:19:55Z Referred to 2007-07-12T14:02:00Z H. Rept. 110-313 2007-09-05 sssb00 Small Business and Entrepreneurship Committee Senate Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship. IntroReferral 2007-09-04 19:26:47 Motion to reconsider laid on the table Agreed to without objection. Floor H38310 2 House floor actions 2007-09-04 19:26:45 On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 385 - 5 (Roll no. 848). (text: CR H10029-10030) Floor H37300 2 House floor actions 848 https://clerk.house.gov/evs/2007/roll848.xml House 110 2007-09-04T23:26:45Z 1 2007-09-04 19:26:45 Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 385 - 5 (Roll no. 848).(text: CR H10029-10030) Floor 8000 9 Library of Congress 848 https://clerk.house.gov/evs/2007/roll848.xml House 110 2007-09-04T23:26:45Z 1 2007-09-04 19:15:41 Considered as unfinished business. (consideration: CR H10043-10044) Floor H30000 2 House floor actions 2007-09-04 14:56:21 At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed. Floor H37220 2 House floor actions 2007-09-04 14:46:45 DEBATE - The House proceeded with forty minutes of debate on H.R. 3020. Floor H8D000 2 House floor actions 2007-09-04 14:46:41 Considered under suspension of the rules. (consideration: CR H10029-10032) Floor H30000 2 House floor actions 2007-09-04 14:46:23 Ms. Velazquez moved to suspend the rules and pass the bill, as amended. Floor H30300 2 House floor actions 2007-09-04 Placed on the Union Calendar, Calendar No. 199. Calendars H12410 2 House floor actions U00199 2007-09-04 Reported (Amended) by the Committee on Small Business. H. Rept. 110-313. Committee H12200 2 House floor actions hssm00 Small Business Committee 2007-09-04 Reported (Amended) by the Committee on Small Business. H. Rept. 110-313. Committee 5000 9 Library of Congress hssm00 Small Business Committee 2007-07-19 hssm00 Small Business Committee 1 House committee actions Ordered to be Reported (Amended) by Voice Vote. Committee 2007-07-19 hssm00 Small Business Committee 1 House committee actions Committee Consideration and Mark-up Session Held. Committee 2007-07-12 Referred to the House Committee on Small Business. IntroReferral H11100 2 House floor actions hssm00 Small Business Committee 2007-07-12 Introduced in House IntroReferral Intro-H 9 Library of Congress 2007-07-12 Introduced in House IntroReferral 1000 9 Library of Congress C000266 Rep. Chabot, Steve [R-OH-1] STEVE CHABOT R OH 1 N V000081 Rep. Velazquez, Nydia M. [D-NY-12] NYDIA VELAZQUEZ D NY M. 12 2007-07-12 True C001063 Rep. Cuellar, Henry [D-TX-28] Henry Cuellar D TX 28 2007-07-12 True C001067 Rep. Clarke, Yvette D. [D-NY-11] Yvette Clarke D NY D. 11 2007-07-12 True L000563 Rep. Lipinski, Daniel [D-IL-3] Daniel Lipinski D IL William 3 2007-07-12 True B001259 Rep. Braley, Bruce L. [D-IA-1] Bruce Braley D IA L. 1 2007-07-19 False 2007-07-26T04:00:00Z H.R. 3020, Microloan Amendments and Modernization Act http://www.cbo.gov/publication/19005 <p>Cost estimate for the bill as ordered reported by the House Committee on Small Business on July 19, 2007</p> 2007-07-26T04:00:00Z H.R. 3020, Microloan Amendments and Modernization Act https://www.cbo.gov/publication/19005 Cost estimate for the bill as ordered reported by the House Committee on Small Business on July 19, 2007 Commerce Business records Consumer credit Disabled Economics and Public Finance Entrepreneurs Federally-assisted loans Finance and Financial Sector Government Operations and Politics Government paperwork Interest rates Minorities Native Americans Small business Subsidies Commerce 00 2007-07-12 Introduced in House 2007-09-04T17:20:26Z Microloan Amendments and Modernization Act - Amends provisions of the Small Business Act regarding the Microloan program (a program administered by the Small Business Administration [SBA] to provide small-scale loans to startup, newly established or growing small businesses for working capital or the acquisition of materials, supplies, or equipment) to: (1) require the SBA Administrator to establish a process under which a lender provides to the major credit reporting agencies information about the borrower that is relevant to credit reporting (such as loan payment activity); (2) remove the requirement that Microloan loans be short-term only; (3) revise Microloan intermediary eligibility requirements; (4) increase from $7,500 to $10,000 the limit for loans made to intermediaries that will receive a reduced interest rate; (5) increase from 25% to 35% of grant funds received by Microloan intermediaries the amount that may be used to provide information and technical assistance to small businesses that are prospective borrowers; and (6) include disabled entrepreneurs and small business owners under the Microloan program.

]]> 17 2007-09-04 Reported to House with amendment(s) 2007-11-19T17:49:53Z Microloan Amendments and Modernization Act - Title I: Microloan - (Sec. 101) Amends the Small Business Act with regard to the Microloan program (a program administered by the Small Business Administration [SBA] to provide small-scale loans to startup, newly established, or growing small businesses for working capital or the acquisition of materials, supplies, or equipment) to require the SBA Administrator to establish a process under which a lender provides to the major credit reporting agencies information about the borrower that is relevant to credit reporting (such as loan payment activity).

(Sec. 102) Removes the requirement that Microloan loans be short-term only.

(Sec. 103) Requires Microloan loan intermediaries to have one full-time employee who has at least three years experience making microloans.

(Sec. 104) Increases from $7,500 to $10,000 the limit for loans made to intermediaries that will receive a reduced interest rate.

(Sec. 105) Increases from 25% to 35% of grant funds received by Microloan intermediaries the amount that may be used to provide information and technical assistance to small businesses that are prospective borrowers.

(Sec. 106) Includes disabled entrepreneurs and small business owners under the Microloan program.

Title II: PRIME - Program for Investment in Microentrepreneurs Act or PRIME Act - (Sec. 202) Directs the Administrator to establish a technical assistance and capacity building grant program to provide assistance to microenterprises (small businesses with fewer than five employees and generally lacking access to conventional loans, equity, or other banking services) through grants to qualified microenterprise development organizations. Requires the Administrator to ensure that at least 50% of the grants made are used to benefit very low-income persons, including those residing on Indian reservations. Provides a 50% matching funds requirement, with an exception for applicants with severe constraints on available sources of matching funds. Outlines recordkeeping requirements for organizations receiving grants. Requires such organizations to report annually to the Administrator on its activities, financial condition, and success in meeting performance goals.

(Sec. 203) Repeals provisions of the Riegle Community Development and Regulatory Improvement Act of 1994 which established a Program for Investment in Microentrepreneurs (PRIME).

]]> 36 2007-09-04 Passed House amended 2007-11-19T17:50:03Z (This measure has not been amended since it was reported to the House on September 4, 2007. The summary of that version is repeated here.)

Microloan Amendments and Modernization Act - Title I: Microloan - (Sec. 101) Amends the Small Business Act with regard to the Microloan program (a program administered by the Small Business Administration [SBA] to provide small-scale loans to startup, newly established, or growing small businesses for working capital or the acquisition of materials, supplies, or equipment) to require the SBA Administrator to establish a process under which a lender provides to the major credit reporting agencies information about the borrower that is relevant to credit reporting (such as loan payment activity).

(Sec. 102) Removes the requirement that Microloan loans be short-term only.

(Sec. 103) Requires Microloan loan intermediaries to have one full-time employee who has at least three years experience making microloans.

(Sec. 104) Increases from $7,500 to $10,000 the limit for loans made to intermediaries that will receive a reduced interest rate.

(Sec. 105) Increases from 25% to 35% of grant funds received by Microloan intermediaries the amount that may be used to provide information and technical assistance to small businesses that are prospective borrowers.

(Sec. 106) Includes disabled entrepreneurs and small business owners under the Microloan program.

Title II: PRIME - Program for Investment in Microentrepreneurs Act or PRIME Act - (Sec. 202) Directs the Administrator to establish a technical assistance and capacity building grant program to provide assistance to microenterprises (small businesses with fewer than five employees and generally lacking access to conventional loans, equity, or other banking services) through grants to qualified microenterprise development organizations. Requires the Administrator to ensure that at least 50% of the grants made are used to benefit very low-income persons, including those residing on Indian reservations. Provides a 50% matching funds requirement, with an exception for applicants with severe constraints on available sources of matching funds. Outlines recordkeeping requirements for organizations receiving grants. Requires such organizations to report annually to the Administrator on its activities, financial condition, and success in meeting performance goals.

(Sec. 203) Repeals provisions of the Riegle Community Development and Regulatory Improvement Act of 1994 which established a Program for Investment in Microentrepreneurs (PRIME).

]]> Microloan Amendments and Modernization Act Official Title as Introduced To amend the Small Business Act to improve the Microloan program, and for other purposes. Introduced in House IH Display Title Microloan Amendments and Modernization Act Short Titles as Passed House Microloan Amendments and Modernization Act H House Short Titles as Reported to House for portions of this bill PRIME Act H House Short Titles as Introduced Microloan Amendments and Modernization Act Short Titles as Passed House for portions of this bill Program for Investment in Microentrepreneurs Act H House Short Titles as Passed House for portions of this bill PRIME Act H House Short Titles as Reported to House for portions of this bill Program for Investment in Microentrepreneurs Act H House Short Titles as Reported to House Microloan Amendments and Modernization Act H House Referred in Senate 2007-09-05T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-110hr3020rfs/xml/BILLS-110hr3020rfs.xml Engrossed in House 2007-09-04T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-110hr3020eh/xml/BILLS-110hr3020eh.xml Reported in House 2007-09-04T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-110hr3020rh/xml/BILLS-110hr3020rh.xml Introduced in House 2007-07-12T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-110hr3020ih/xml/BILLS-110hr3020ih.xml 2007-09-05 Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.