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[Congressional Bills 115th Congress]
[From the U.S. Government Publishing Office]
[S. 526 Reported in Senate (RS)]

<DOC>

                                                       Calendar No. 346
115th CONGRESS
  2d Session
                                 S. 526

 To amend the Small Business Act to provide for expanded participation 
           in the microloan program, and for other purposes.

_______________________________________________________________________

                   IN THE SENATE OF THE UNITED STATES

                             March 2, 2017

Mrs. Fischer (for herself, Mr. Coons, Mr. Scott, Mrs. Gillibrand, Mrs. 
 Shaheen, Mr. Peters, Mr. Donnelly, and Ms. Duckworth) introduced the 
 following bill; which was read twice and referred to the Committee on 
                  Small Business and Entrepreneurship

                             March 19, 2018

                Reported by Mr. Risch, with an amendment
 [Strike out all after the enacting clause and insert the part printed 
                               in italic]

_______________________________________________________________________

                                 A BILL

 
 To amend the Small Business Act to provide for expanded participation 
           in the microloan program, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

<DELETED>SECTION 1. SHORT TITLE.</DELETED>

<DELETED>    This Act may be cited as the ``Microloan Modernization Act 
of 2017''.</DELETED>

<DELETED>SEC. 2. DEFINITIONS.</DELETED>

<DELETED>    In this Act--</DELETED>
        <DELETED>    (1) the term ``intermediary'' has the meaning 
        given the term in section 7(m)(11) of the Small Business Act 
        (15 U.S.C. 636(m)(11)); and</DELETED>
        <DELETED>    (2) the term ``microloan program'' means the 
        program established under section 7(m) of the Small Business 
        Act (15 U.S.C. 636(m)).</DELETED>

<DELETED>SEC. 3. MICROLOAN INTERMEDIARY LENDING LIMIT 
              INCREASED.</DELETED>

<DELETED>    Section 7(m)(3)(C) of the Small Business Act (15 U.S.C. 
636(m)(3)(C)) is amended by striking ``$5,000,000'' and inserting 
``$6,000,000''.</DELETED>

<DELETED>SEC. 4. ELIMINATION OF 25/75 RULE.</DELETED>

<DELETED>    Section 7(m)(4) of the Small Business Act (15 U.S.C. 
636(m)(4)) is amended--</DELETED>
        <DELETED>    (1) by striking subparagraph (E); and</DELETED>
        <DELETED>    (2) by redesignating subparagraph (F) as 
        subparagraph (E).</DELETED>

<DELETED>SEC. 5. SBA STUDY OF MICROENTERPRISE PARTICIPATION.</DELETED>

<DELETED>    Not later than 1 year after the date of enactment of this 
Act, the Administrator of the Small Business Administration shall 
conduct a study and submit to the Committee on Small Business and 
Entrepreneurship of the Senate and the Committee on Small Business of 
the House of Representatives a report on--</DELETED>
        <DELETED>    (1) the operations (including services provided, 
        structure, size, and area of operation) of a representative 
        sample of--</DELETED>
                <DELETED>    (A) intermediaries that are eligible to 
                participate in the microloan program and that do 
                participate; and</DELETED>
                <DELETED>    (B) intermediaries (including those 
                operated for profit, operated not for profit, and those 
                affiliated with a United States institution of higher 
                learning) that are eligible to participate in the 
                microloan program and that do not 
                participate;</DELETED>
        <DELETED>    (2) the reasons why intermediaries described in 
        paragraph (1)(B) choose not to participate in the microloan 
        program;</DELETED>
        <DELETED>    (3) recommendations on how to encourage increased 
        participation in the microloan program by intermediaries 
        described in paragraph (1)(B); and</DELETED>
        <DELETED>    (4) recommendations on how to decrease the costs 
        associated with participation in the microloan program for 
        eligible intermediaries.</DELETED>

<DELETED>SEC. 6. GAO STUDY ON MICROLOAN INTERMEDIARY 
              PRACTICES.</DELETED>

<DELETED>    Not later than 1 year after the date of enactment of this 
Act, the Comptroller General of the United States shall submit to the 
Committee on Small Business and Entrepreneurship of the Senate and the 
Committee on Small Business of the House of Representatives a report 
evaluating--</DELETED>
        <DELETED>    (1) oversight of the microloan program by the 
        Small Business Administration, including oversight of 
        intermediaries participating in the microloan program; 
        and</DELETED>
        <DELETED>    (2) the specific processes used by the Small 
        Business Administration to ensure--</DELETED>
                <DELETED>    (A) compliance by intermediaries 
                participating in the microloan program; and</DELETED>
                <DELETED>    (B) the overall performance of the 
                microloan program.</DELETED>

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Microloan Modernization Act of 
2018''.

SEC. 2. DEFINITIONS.

    In this Act--
            (1) the term ``intermediary'' has the meaning given the 
        term in section 7(m)(11) of the Small Business Act (15 U.S.C. 
        636(m)(11)); and
            (2) the term ``microloan program'' means the program 
        established under section 7(m) of the Small Business Act (15 
        U.S.C. 636(m)).

SEC. 3. MICROLOAN INTERMEDIARY LENDING LIMIT INCREASED.

    Section 7(m)(3)(C) of the Small Business Act (15 U.S.C. 
636(m)(3)(C)) is amended by striking ``$5,000,000'' and inserting 
``$6,000,000''.

SEC. 4. MICROLOAN TECHNICAL ASSISTANCE.

    Section 7(m)(4)(E) of the Small Business Act (15 U.S.C. 
636(m)(4)(E)) is amended by striking ``25 percent'' each place that 
term appears and inserting ``50 percent''.

SEC. 5. SBA STUDY OF MICROENTERPRISE PARTICIPATION.

    Not later than 1 year after the date of enactment of this Act, the 
Administrator of the Small Business Administration shall conduct a 
study and submit to the Committee on Small Business and 
Entrepreneurship of the Senate and the Committee on Small Business of 
the House of Representatives a report on--
            (1) the operations (including services provided, structure, 
        size, and area of operation) of a representative sample of--
                    (A) intermediaries that are eligible to participate 
                in the microloan program and that do participate; and
                    (B) intermediaries (including those operated for 
                profit, operated not for profit, and those affiliated 
                with a United States institution of higher learning) 
                that are eligible to participate in the microloan 
                program and that do not participate;
            (2) the reasons why intermediaries described in paragraph 
        (1)(B) choose not to participate in the microloan program;
            (3) recommendations on how to encourage increased 
        participation in the microloan program by intermediaries 
        described in paragraph (1)(B); and
            (4) recommendations on how to decrease the costs associated 
        with participation in the microloan program for eligible 
        intermediaries.

SEC. 6. GAO STUDY ON MICROLOAN INTERMEDIARY PRACTICES.

    Not later than 1 year after the date of enactment of this Act, the 
Comptroller General of the United States shall submit to the Committee 
on Small Business and Entrepreneurship of the Senate and the Committee 
on Small Business of the House of Representatives a report evaluating--
            (1) oversight of the microloan program by the Small 
        Business Administration, including oversight of intermediaries 
        participating in the microloan program; and
            (2) the specific processes used by the Small Business 
        Administration to ensure--
                    (A) compliance by intermediaries participating in 
                the microloan program; and
                    (B) the overall performance of the microloan 
                program.
                                                       Calendar No. 346

115th CONGRESS

  2d Session

                                 S. 526

_______________________________________________________________________

                                 A BILL

 To amend the Small Business Act to provide for expanded participation 
           in the microloan program, and for other purposes.

_______________________________________________________________________

                             March 19, 2018

                       Reported with an amendment
```