3.0.0 2850 2023-01-11T13:32:55Z 2023-01-11T13:32:55Z Senate S 2016-04-26 114 sssb00 Small Business and Entrepreneurship Committee Senate Standing Reported by 2016-05-24T22:11:43Z Markup by 2016-05-11T20:30:00Z Referred to 2016-04-26T14:38:56Z S. Rept. 114-301 2016-07-13 sssb00 Small Business and Entrepreneurship Committee Senate By Senator Vitter from Committee on Small Business and Entrepreneurship filed written report. Report No. 114-301. Floor 2016-07-13 By Senator Vitter from Committee on Small Business and Entrepreneurship filed written report. Report No. 114-301. Committee 14900 9 Library of Congress sssb00 Small Business and Entrepreneurship Committee 2016-05-24 Senate Placed on Senate Legislative Calendar under General Orders. Calendar No. 485. Calendars 2016-05-24 sssb00 Small Business and Entrepreneurship Committee Senate Committee on Small Business and Entrepreneurship. Reported by Senator Vitter with amendments. Without written report. Committee 2016-05-24 Committee on Small Business and Entrepreneurship. Reported by Senator Vitter with amendments. Without written report. Committee 14000 9 Library of Congress sssb00 Small Business and Entrepreneurship Committee 2016-05-11 sssb00 Small Business and Entrepreneurship Committee Senate Committee on Small Business and Entrepreneurship. Ordered to be reported with amendments favorably. Committee 2016-04-26 sssb00 Small Business and Entrepreneurship Committee Senate Read twice and referred to the Committee on Small Business and Entrepreneurship. IntroReferral 2016-04-26 Introduced in Senate IntroReferral 10000 9 Library of Congress F000463 Sen. Fischer, Deb [R-NE] Deb Fischer R NE N A000368 Sen. Ayotte, Kelly [R-NH] Kelly Ayotte R NH 2016-04-26 True P000595 Sen. Peters, Gary C. [D-MI] Gary Peters D MI 2016-04-26 True C001088 Sen. Coons, Christopher A. [D-DE] Christopher Coons D DE A. 2016-04-26 True S001181 Sen. Shaheen, Jeanne [D-NH] Jeanne Shaheen D NH 2016-04-26 True S001184 Sen. Scott, Tim [R-SC] Tim Scott R SC 2016-04-28 False 2016-06-30T12:55:00Z S. 2850, Microloan Program Modernization Act of 2016 https://www.cbo.gov/publication/51747 As reported by the Senate Committee on Small Business and Entrepreneurship on May 24, 2016 Commerce Congressional oversight Government lending and loan guarantees Government studies and investigations Performance measurement Small business Commerce 00 2016-04-26 Introduced in Senate 2016-05-06T20:19:28Z Microloan Program Modernization Act of 2016

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.

]]> 01 2016-05-24 Reported to Senate with amendment(s) 2016-06-01T15:10:11Z Microloan Program Modernization Act of 2016

(Sec. 3) This bill amends the Small Business Act, with respect to the Small Business Administration (SBA) Microloan Program (assisting low-income individuals to start and operate a small business), to increase from $5 million to $6 million the total amount of loans outstanding and committed to any particular intermediary (excluding outstanding grants) from the SBA business loan and investment fund for the remaining years of the intermediary's participation in the program.

(Sec. 4) The Microloan Program "25/75" rule is repealed, which 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.

(Sec. 5) 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.

(Sec. 6) 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.

]]> Microloan Program Modernization Act of 2016 Display Title Microloan Program Modernization Act of 2016 Official Title as Introduced A bill to amend the Small Business Act to provide for expanded participation in the microloan program, and for other purposes. Introduced in Senate IS Short Titles as Introduced Microloan Program Modernization Act of 2016 Reported to Senate 2016-05-24T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-114s2850rs/xml/BILLS-114s2850rs.xml Introduced in Senate 2016-04-26T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-114s2850is/xml/BILLS-114s2850is.xml 2016-07-13 By Senator Vitter from Committee on Small Business and Entrepreneurship filed written report. Report No. 114-301. 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.