3.0.0 6079 2023-01-11T13:45:04Z 2023-01-11T13:45:04Z House HR 2020-03-04 116 [Congressional Record Volume 166, Number 43 (Wednesday, March 4, 2020)][House]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. KIM:H.R. 6079.Congress has the power to enact this legislation pursuantto the following:The constitutional authority of Congress to enact thelegislation is provided by Article I, section 8 of the UnitedStates Constitution[Page H1505]]]> sssb00 Small Business and Entrepreneurship Committee Senate Standing Referred to 2020-09-15T16:35:18Z hssm00 Small Business Committee House Standing Markup by 2020-03-11T20:14:38Z Referred to 2020-03-04T15:00:32Z 2020-09-15 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 2020-09-14 14:33:01 Motion to reconsider laid on the table Agreed to without objection. Floor H38310 2 House floor actions 2020-09-14 14:32:46 On motion to suspend the rules and pass the bill Agreed to by voice vote. (text: CR H4344) Floor H37300 2 House floor actions 2020-09-14 14:32:46 Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by voice vote. Floor 8000 9 Library of Congress 2020-09-14 14:23:10 DEBATE - The House proceeded with forty minutes of debate on H.R. 6079. Floor H8D000 2 House floor actions 2020-09-14 14:23:07 Considered under suspension of the rules. (consideration: CR H4344-4345) Floor H30000 2 House floor actions 2020-09-14 14:22:50 Ms. Velazquez moved to suspend the rules and pass the bill. Floor H30300 2 House floor actions 2020-03-11 hssm00 Small Business Committee 1 House committee actions Ordered to be Reported by Voice Vote. Committee 2020-03-11 hssm00 Small Business Committee 1 House committee actions Committee Consideration and Mark-up Session Held. Committee 2020-03-04 Referred to the House Committee on Small Business. IntroReferral H11100 2 House floor actions hssm00 Small Business Committee 2020-03-04 Introduced in House IntroReferral Intro-H 9 Library of Congress 2020-03-04 Introduced in House IntroReferral 1000 9 Library of Congress K000394 Rep. Kim, Andy [D-NJ-3] Andy Kim D NJ 3 N B001309 Rep. Burchett, Tim [R-TN-2] Tim Burchett R TN 2 2020-03-04 True Commerce Administrative law and regulatory procedures Business records Credit and credit markets Government information and archives Government lending and loan guarantees Interest, dividends, interest rates Small Business Administration Small business Commerce 00 2020-03-04 Introduced in House 2020-07-30T16:57:28Z Microloan Improvement Act of 2020

This bill revises the microloan program through which the Small Business Administration (SBA) provides, through designated intermediaries, certain financial assistance to small businesses.

Specifically, the bill raises the limit on the aggregate amount for loans the SBA makes to an intermediary participating in the microloan program. Further, the bill (1) authorizes an intermediary to offer a line of credit to a small business, (2) increases the average amount for loans from an intermediary to participating small businesses that makes the intermediary eligible for a reduced interest rate on SBA loans, and (3) makes certain intermediaries eligible to receive a 5% technical assistance grant.

The bill also places limits on the repayment term for a microloan, and it prohibits the SBA from imposing any additional limitation on the term for repayment of a microloan.

The SBA must reserve 15% of new loan funds that are made available for disbursement as microloans to designated underutilized states and make the remaining 85% available for any state.

]]> 53 2020-09-14 Passed House 2020-09-22T18:09:45Z Microloan Improvement Act of 2020

This bill revises the microloan program through which the Small Business Administration (SBA) provides, through designated intermediaries, certain financial assistance to small businesses.

Specifically, the bill raises the limit on the aggregate amount for loans the SBA makes to an intermediary participating in the microloan program. Further, the bill (1) authorizes an intermediary to offer a line of credit to a small business, (2) increases the average amount for loans from an intermediary to participating small businesses that makes the intermediary eligible for a reduced interest rate on SBA loans, and (3) makes certain intermediaries eligible to receive a 5% technical assistance grant.

The bill also places limits on the repayment term for a microloan, and it prohibits the SBA from imposing any additional limitation on the term for repayment of a microloan.

The SBA must reserve 15% of new loan funds that are made available for disbursement as microloans to designated underutilized states and make the remaining 85% available for any state.

]]> Microloan Improvement Act of 2020 Display Title Microloan Improvement Act of 2020 Short Title(s) as Passed House Microloan Improvement Act of 2020 H House Engrossed in House EH Official Title as Introduced To amend the Small Business Act to optimize the operations of the microloan program, lower costs for small business concerns and intermediary participants in the program, and for other purposes. Engrossed in House EH Short Titles as Passed House Microloan Improvement Act of 2020 H House Short Title(s) as Introduced Microloan Improvement Act of 2020 Introduced in House IH Referred in Senate 2020-09-15T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-116hr6079rfs/xml/BILLS-116hr6079rfs.xml Engrossed in House 2020-09-14T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-116hr6079eh/xml/BILLS-116hr6079eh.xml Introduced in House 2020-03-04T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-116hr6079ih/xml/BILLS-116hr6079ih.xml 2020-09-15 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.