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‘‘(c) SUBGRANTS AUTHORIZED.—
‘‘(1) IN GENERAL.—A qualified organization re-
ceiving assistance under this subtitle may provide
grants using that assistance to qualified small and
emerging microenterprise organizations and pro-
grams, subject to such rules and regulations as the
Administrator determines to be appropriate.
‘‘(2) LIMIT ON ADMINISTRATIVE EXPENSES.—Not
more than 7.5 percent of assistance received by a
qualified organization under this subtitle may be used
for administrative expenses in connection with the
making of subgrants under paragraph (1).
‘‘(d) DIVERSITY.—In making grants under this sub-
title, the Administrator shall ensure that grant recipients
include both large and small microenterprise organizations,
serving urban, rural, and Indian tribal communities and
racially and ethnically diverse populations.
‘‘(e) CONSIDERATION OF INTERMEDIARIES PARTICI-
PATING
IN MICROLOAN PROGRAM.—The Administrator
shall establish and use criteria for selecting applications for
grants under this subtitle from among applications that
meet the requirements under this subtitle for approval for
a grant, which—
‘‘(1) may not exclude from consideration any ap-
plication made by a qualified organization that is a
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participant in the program established under section
7(m) of the Small Business Act (15 U.S.C. 636(m));
and
‘‘(2) shall provide positive consideration to an
application made by a qualified organization that is
a participant in the program established under sec-
tion 7(m) of the Small Business Act (15 U.S.C.
636(m)).
‘‘SEC. 177. MATCHING REQUIREMENTS.
‘‘(a) IN GENERAL.—Financial assistance under this
subtitle shall be matched with funds from sources other than
the Federal Government on the basis of not less than 50
percent of each dollar provided by the Fund.
‘‘(b) SOURCES OF MATCHING FUNDS.—Fees, grants,
gifts, funds from loan sources, and in-kind resources of a
grant recipient from public or private sources may be used
to comply with the matching requirement in subsection (a).
‘‘(c) EXCEPTION.—
‘‘(1) IN GENERAL.—In the case of an applicant
for assistance under this subtitle with severe con-
straints on available sources of matching funds, the
Administrator may reduce or eliminate the matching
requirements of subsection (a).
‘‘(2) LIMITATION.—Not more than 10 percent of
the total funds made available from the Fund in any
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fiscal year to carry out this subtitle may be excepted
from the matching requirements of subsection (a), as
authorized by paragraph (1) of this subsection.
‘‘SEC. 178. APPLICATIONS FOR ASSISTANCE.
‘‘An application for assistance under this subtitle shall
be submitted in such form and in accordance with such pro-
cedures as the Fund shall establish.
‘‘SEC. 179. RECORDKEEPING.
‘‘The requirements of section 115 shall apply to a
qualified organization receiving assistance from the Fund
under this subtitle as if it were a community development
financial institution receiving assistance from the Fund
under subtitle A.
‘‘SEC. 180. REPORT.
‘‘Not later than 1 year after the date that the first
grant is awarded under this subtitle, the Administrator
shall submit to the Committees on Banking and Financial
Services and Small Business of the House of Representa-
tives and the Committees on Banking, Housing, and Urban
Affairs and Small Business of the Senate a report on the
microenterprise technical assistance and capacity building
program under this subtitle, which shall include the Admin-
istrator’s evaluation of the effectiveness of the first year of
operation of the program and the following information:
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‘‘(1) The number and locations of the qualified
organizations funded under the grant program.
‘‘(2) The amount of each grant made to a quali-
fied organization.
‘‘(3) A description of the matching contributions
provided in accordance with section 177 by each
qualified organization receiving a grant.
‘‘(4) The numbers and amounts of subgrants
made by qualified organizations to microenterprise
concerns.
‘‘(5) For each grant made under the program,
the purpose for which the grant funds were used.
‘‘SEC. 181. AUTHORIZATION.
‘‘In addition to funds otherwise authorized to be ap-
propriated to the Fund to carry out this title, there are au-
thorized to be appropriated to the Fund to carry out this
subtitle—
‘‘(1) $15,000,000 for fiscal year 2000;
‘‘(2) $25,000,000 for fiscal year 2001;
‘‘(3) $30,000,000 for fiscal year 2002; and
‘‘(4) $35,000,000 for fiscal year 2003.
‘‘SEC. 182. IMPLEMENTATION.
‘‘(a) REGULATIONS.—The Administrator shall, by reg-
ulation, establish such requirements as may be necessary
to carry out this subtitle. The Administrator of the Fund
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shall submit a copy of any such proposed, preliminary, in-
terim, or final regulation to the Administrator of the Small
Business Administrator for review and comment by such
Administrator, and shall review any comments of such Ad-
ministrator submitted pursuant to such review. No regula-
tion issued to carry out this subtitle may take effect before
the expiration of the 60-day period beginning upon the sub-
mission of such regulation to the Administrator of the
Small Business Administration.
‘‘(b) COORDINATION WITH SMALL BUSINESS ADMINIS-
TRATION.—Not later than 60 days after the date of the en-
actment of this section, the Administrator of the Fund and
the Administrator of the Small Business Administration
shall conduct any necessary consultations and enter into
a memorandum of understanding providing that the pro-
gram under this subtitle and the microloan program under
section 7(m) of the Small Business Act (15 U.S.C. 636(m))
will be carried out in conjunction and coordination with
each other in a manner that advances the purposes of both
such programs. Notwithstanding any other provision of this
subtitle, the Administrator of the Fund may not make any
grant under this subtitle before such memorandum of under-
standing is agreed to.’’.
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SEC. 2. ADMINISTRATIVE EXPENSES.
Section 121(a)(2)(A) of the Riegle Community Devel-
opment and Regulatory Improvement Act of 1994 (12
U.S.C. 4718(a)(2)(A)) is amended—
(1) by striking ‘‘$5,550,000’’ and inserting
‘‘$6,100,000’’; and
(2) in the first sentence, by inserting before the
period ‘‘, including costs and expenses associated with
carrying out subtitle C’’.
SEC. 3. CONFORMING AMENDMENTS.
(a) IN GENERAL.—Section 104(d) of the Riegle Com-
munity Development and Regulatory Improvement Act of
1994 (12 U.S.C. 4703(d)) is amended—
(1) in paragraph (2)—
(A) by striking ‘‘15’’ and inserting ‘‘17’’;
(B) in subparagraph (G)—
(i) by striking ‘‘9’’ and inserting ‘‘11’’;
(ii) by redesignating clauses (iv) and
(v) as clauses (v) and (vi), respectively; and
(iii) by inserting after clause (iii) the
following:
‘‘(iv) 2 individuals who have expertise
in microenterprises and microenterprise de-
velopment;’’; and
(2) in paragraph (4), in the first sentence, by in-
serting before the period ‘‘and subtitle C’’.
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(b) TABLE OF CONTENTS.—The table of contents in
section 1(b) is amended by adding after the item relating
to section 158 the following:
‘‘Subtitle C—Microenterprise Technical Assistance and Capacity Building
Program
‘‘Sec. 171. Short title.
‘‘Sec. 172. Definitions.
‘‘Sec. 173. Establishment of program.
‘‘Sec. 174. Uses of assistance.
‘‘Sec. 175. Qualified organizations.
‘‘Sec. 176. Allocation of assistance; subgrants.
‘‘Sec. 177. Matching requirements.
‘‘Sec. 178. Applications for assistance.
‘‘Sec. 179. Recordkeeping.
‘‘Sec. 180. Report.
‘‘Sec. 181. Authorization.
‘‘Sec. 182. Implementation.’’.