Legis Daily

Microloan Modernization Act of 2018

USA115th CongressS-526| Senate 
| Updated: 12/20/2018
Deb Fischer

Deb Fischer

Republican Senator

Nebraska

Cosponsors (7)
Jeanne Shaheen (Democratic)Tammy Duckworth (Democratic)Kirsten E. Gillibrand (Democratic)Christopher A. Coons (Democratic)Joe Donnelly (Democratic)Tim Scott (Republican)Gary C. Peters (Democratic)

Small Business and Entrepreneurship Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
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.

Bill Text Versions

View Text
3 versions available

Suggested Questions

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Timeline
Mar 2, 2017
Introduced in Senate
Mar 2, 2017
Read twice and referred to the Committee on Small Business and Entrepreneurship.
Jul 25, 2017

Latest Companion Bill Action

HR 115-2056
Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.
Mar 14, 2018
Committee on Small Business and Entrepreneurship. Ordered to be reported with an amendment in the nature of a substitute favorably.
Mar 19, 2018
Committee on Small Business and Entrepreneurship. Reported by Senator Risch with an amendment in the nature of a substitute. Without written report.
Mar 19, 2018
Placed on Senate Legislative Calendar under General Orders. Calendar No. 346.
Jul 18, 2018
Passed/agreed to in Senate: Passed Senate with an amendment by Voice Vote.(text: CR S5073)
Jul 18, 2018
Passed Senate with an amendment by Voice Vote. (text: CR S5073)
Jul 18, 2018
The committee substitute as amended agreed to by Unanimous Consent.
Jul 18, 2018
Measure laid before Senate by unanimous consent. (consideration: CR S5072-5073)
Jul 19, 2018
Message on Senate action sent to the House.
Jul 19, 2018
Received in the House.
Jul 19, 2018
Held at the desk.
Dec 20, 2018
By Senator Risch from Committee on Small Business and Entrepreneurship filed written report. Report No. 115-452.
  • March 2, 2017
    Introduced in Senate


  • March 2, 2017
    Read twice and referred to the Committee on Small Business and Entrepreneurship.


  • July 25, 2017

    Latest Companion Bill Action

    HR 115-2056
    Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.


  • March 14, 2018
    Committee on Small Business and Entrepreneurship. Ordered to be reported with an amendment in the nature of a substitute favorably.


  • March 19, 2018
    Committee on Small Business and Entrepreneurship. Reported by Senator Risch with an amendment in the nature of a substitute. Without written report.


  • March 19, 2018
    Placed on Senate Legislative Calendar under General Orders. Calendar No. 346.


  • July 18, 2018
    Passed/agreed to in Senate: Passed Senate with an amendment by Voice Vote.(text: CR S5073)


  • July 18, 2018
    Passed Senate with an amendment by Voice Vote. (text: CR S5073)


  • July 18, 2018
    The committee substitute as amended agreed to by Unanimous Consent.


  • July 18, 2018
    Measure laid before Senate by unanimous consent. (consideration: CR S5072-5073)


  • July 19, 2018
    Message on Senate action sent to the House.


  • July 19, 2018
    Received in the House.


  • July 19, 2018
    Held at the desk.


  • December 20, 2018
    By Senator Risch from Committee on Small Business and Entrepreneurship filed written report. Report No. 115-452.

Commerce

Related Bills

  • HR 115-5515: John S. McCain National Defense Authorization Act for Fiscal Year 2019
  • HR 115-2488: To provide for small business concerns located in Puerto Rico, and for other purposes.
  • HR 115-2056: Microloan Modernization Act of 2017
  • HR 115-5975: To support businesses in Puerto Rico, extend child tax credits for families in Puerto Rico, and for other purposes.
  • S 115-3256: A bill to support businesses in Puerto Rico, extend child tax credits for families in Puerto Rico, and for other purposes.
  • HR 115-2429: To support businesses in Puerto Rico, improve health funding for Puerto Rico, and promote security in Puerto Rico, and for other purposes.
  • S 115-2873: A bill to support businesses in Puerto Rico, extend child tax credits for families in Puerto Rico, and for other purposes.
Congressional oversightGovernment lending and loan guaranteesGovernment studies and investigationsPerformance measurementSmall business

Microloan Modernization Act of 2018

USA115th CongressS-526| Senate 
| Updated: 12/20/2018
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.

Bill Text Versions

View Text
3 versions available

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
Mar 2, 2017
Introduced in Senate
Mar 2, 2017
Read twice and referred to the Committee on Small Business and Entrepreneurship.
Jul 25, 2017

Latest Companion Bill Action

HR 115-2056
Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.
Mar 14, 2018
Committee on Small Business and Entrepreneurship. Ordered to be reported with an amendment in the nature of a substitute favorably.
Mar 19, 2018
Committee on Small Business and Entrepreneurship. Reported by Senator Risch with an amendment in the nature of a substitute. Without written report.
Mar 19, 2018
Placed on Senate Legislative Calendar under General Orders. Calendar No. 346.
Jul 18, 2018
Passed/agreed to in Senate: Passed Senate with an amendment by Voice Vote.(text: CR S5073)
Jul 18, 2018
Passed Senate with an amendment by Voice Vote. (text: CR S5073)
Jul 18, 2018
The committee substitute as amended agreed to by Unanimous Consent.
Jul 18, 2018
Measure laid before Senate by unanimous consent. (consideration: CR S5072-5073)
Jul 19, 2018
Message on Senate action sent to the House.
Jul 19, 2018
Received in the House.
Jul 19, 2018
Held at the desk.
Dec 20, 2018
By Senator Risch from Committee on Small Business and Entrepreneurship filed written report. Report No. 115-452.
  • March 2, 2017
    Introduced in Senate


  • March 2, 2017
    Read twice and referred to the Committee on Small Business and Entrepreneurship.


  • July 25, 2017

    Latest Companion Bill Action

    HR 115-2056
    Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.


  • March 14, 2018
    Committee on Small Business and Entrepreneurship. Ordered to be reported with an amendment in the nature of a substitute favorably.


  • March 19, 2018
    Committee on Small Business and Entrepreneurship. Reported by Senator Risch with an amendment in the nature of a substitute. Without written report.


  • March 19, 2018
    Placed on Senate Legislative Calendar under General Orders. Calendar No. 346.


  • July 18, 2018
    Passed/agreed to in Senate: Passed Senate with an amendment by Voice Vote.(text: CR S5073)


  • July 18, 2018
    Passed Senate with an amendment by Voice Vote. (text: CR S5073)


  • July 18, 2018
    The committee substitute as amended agreed to by Unanimous Consent.


  • July 18, 2018
    Measure laid before Senate by unanimous consent. (consideration: CR S5072-5073)


  • July 19, 2018
    Message on Senate action sent to the House.


  • July 19, 2018
    Received in the House.


  • July 19, 2018
    Held at the desk.


  • December 20, 2018
    By Senator Risch from Committee on Small Business and Entrepreneurship filed written report. Report No. 115-452.
Deb Fischer

Deb Fischer

Republican Senator

Nebraska

Cosponsors (7)
Jeanne Shaheen (Democratic)Tammy Duckworth (Democratic)Kirsten E. Gillibrand (Democratic)Christopher A. Coons (Democratic)Joe Donnelly (Democratic)Tim Scott (Republican)Gary C. Peters (Democratic)

Small Business and Entrepreneurship Committee

Commerce

Related Bills

  • HR 115-5515: John S. McCain National Defense Authorization Act for Fiscal Year 2019
  • HR 115-2488: To provide for small business concerns located in Puerto Rico, and for other purposes.
  • HR 115-2056: Microloan Modernization Act of 2017
  • HR 115-5975: To support businesses in Puerto Rico, extend child tax credits for families in Puerto Rico, and for other purposes.
  • S 115-3256: A bill to support businesses in Puerto Rico, extend child tax credits for families in Puerto Rico, and for other purposes.
  • HR 115-2429: To support businesses in Puerto Rico, improve health funding for Puerto Rico, and promote security in Puerto Rico, and for other purposes.
  • S 115-2873: A bill to support businesses in Puerto Rico, extend child tax credits for families in Puerto Rico, and for other purposes.
  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Congressional oversightGovernment lending and loan guaranteesGovernment studies and investigationsPerformance measurementSmall business