Microloan Modernization Act of 2017

Bill: 115-hr-2056
Sponsor: full_name: Rep. Murphy, Stephanie N. [D-FL-7]
Introduced: 2017-04-06
Policy area: Commerce
Subjects: Congressional oversight

Government lending and loan guarantees

Government studies and investigations

Performance measurement

Small business
Latest action: action_date: 2017-07-25
text: Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.

Summaries:
action_date: 2017-04-06
action_desc: Introduced in House
text: <p><b>Microloan Modernization Act of 2017</b></p> <p>This bill amends the Small Business Act to repeal the &quot;25/75&quot; 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.</p> <p>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. </p> <p>The SBA shall:</p> <ul> <li>compare the operations of a representative sample of eligible intermediaries that participate in the microloan program and of eligible intermediaries that do not,</li> <li>study the reasons why the latter do not participate,</li> <li>recommend how to encourage increased participation by intermediaries in the microloan program, and </li> <li>recommend how to decrease the associated costs for intermediary participation.</li> </ul> <p>The Government Accountability Office shall evaluate:</p> <ul> <li> SBA oversight of the microloan program, including oversight of participating intermediaries; and</li> <li>the specific processes the SBA uses to ensure program compliance by participating intermediaries and overall microloan program performance.</li></ul>

action_date: 2017-07-12
action_desc: Reported to House with amendment(s)
text: <p><b>Microloan Modernization Act of 2017</b></p> <p>(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.</p> (Sec. 4) SBA-designated microloan intermediary lenders may expend up to 50% (currently, 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. <p>(Sec. 5) The SBA shall:</p> <ul> <li>compare the operations of a representative sample of eligible intermediaries that participate in the microloan program and of eligible intermediaries that do not,</li> <li>study the reasons why the latter do not participate,</li> <li>recommend how to encourage increased participation by intermediaries in the microloan program, and </li> <li>recommend how to decrease the associated costs for intermediary participation.</li> </ul> <p>(Sec. 6) The Government Accountability Office shall evaluate:</p> <ul> <li> SBA oversight of the microloan program, including oversight of participating intermediaries; and</li> <li>the specific processes the SBA uses to ensure program compliance by participating intermediaries and overall microloan program performance.</li></ul>

action_date: 2017-07-24
action_desc: Passed House amended
text: <p>(This measure has not been amended since it was reported to the House on July 12, 2017. The summary of that version is repeated here.)</p> <p><b>Microloan Modernization Act of 2017</b></p> <p>(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.</p> (Sec. 4) SBA-designated microloan intermediary lenders may expend up to 50% (currently, 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. <p>(Sec. 5) The SBA shall:</p> <ul> <li>compare the operations of a representative sample of eligible intermediaries that participate in the microloan program and of eligible intermediaries that do not,</li> <li>study the reasons why the latter do not participate,</li> <li>recommend how to encourage increased participation by intermediaries in the microloan program, and </li> <li>recommend how to decrease the associated costs for intermediary participation.</li> </ul> <p>(Sec. 6) The Government Accountability Office shall evaluate:</p> <ul> <li> SBA oversight of the microloan program, including oversight of participating intermediaries; and</li> <li>the specific processes the SBA uses to ensure program compliance by participating intermediaries and overall microloan program performance.</li></ul>

tv_txt: I 115th CONGRESS 1st Session H. R. 2056 IN THE HOUSE OF REPRESENTATIVES April 6, 2017 Mrs. Murphy of Florida (for herself, Ms. Velázquez , and Mr. Moulton ) introduced the following bill; which was referred to the Committee on Small Business A BILL To amend the Small Business Act to provide for expanded participation in the microloan program, and for other purposes.

1. Short title This Act may be cited as the Microloan Modernization Act of 2017 . 2. Definitions In this Act— (1) the term intermediary has the meaning given that 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) ). 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 . 4. Elimination of 25/75 rule Section 7(m)(4) of the Small Business Act ( 15 U.S.C. 636(m)(4) ) is amended— (1) by striking subparagraph (E); and (2) by redesignating subparagraph (F) as subparagraph (E). 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. 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.

tv_txt: IB 115th CONGRESS 1st Session H. R. 2056 IN THE HOUSE OF REPRESENTATIVES AN ACT To amend the Small Business Act to provide for expanded participation in the microloan program, and for other purposes.

1. Short title This Act may be cited as the Microloan Modernization Act of 2017 . 2. Definitions In this Act— (1) the term intermediary has the meaning given that 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) ). 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 . 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 such term appears and inserting 50 percent . 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 that are eligible to participate in the microloan program and that do not participate; (2) the reasons why eligible 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 eligible 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. 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.

Passed the House of Representatives July 24, 2017. Karen L. Haas, Clerk.

tv_txt: IIB 115th CONGRESS 1st Session H. R. 2056 IN THE SENATE OF THE UNITED STATES July 25, 2017 Received; read twice and referred to the Committee on Small Business and Entrepreneurship AN ACT To amend the Small Business Act to provide for expanded participation in the microloan program, and for other purposes.

1. Short title This Act may be cited as the Microloan Modernization Act of 2017 . 2. Definitions In this Act— (1) the term intermediary has the meaning given that 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) ). 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 . 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 such term appears and inserting 50 percent . 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 that are eligible to participate in the microloan program and that do not participate; (2) the reasons why eligible 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 eligible 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. 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.

Passed the House of Representatives July 24, 2017. Karen L. Haas, Clerk

tv_txt: IB Union Calendar No. 150 115th CONGRESS 1st Session H. R. 2056 [Report No. 115–214] IN THE HOUSE OF REPRESENTATIVES April 6, 2017 Mrs. Murphy of Florida (for herself, Ms. Velázquez , and Mr. Moulton ) introduced the following bill; which was referred to the Committee on Small Business July 12, 2017 Additional sponsors: Mr. Bacon , Ms. Clarke of New York , Mr. Meeks , Mr. Kind , Mr. Harris , Miss González-Colón of Puerto Rico , Mr. Kilmer , Mr. Soto , and Mr. Takano July 12, 2017 Reported with an amendment, committed to the Committee of the Whole House on the State of the Union, and ordered to be printed Strike out all after the enacting clause and insert the part printed in italic For text of introduced bill, see copy of bill as introduced on April 6, 2017 A BILL To amend the Small Business Act to provide for expanded participation in the microloan program, and for other purposes.

1. Short title This Act may be cited as the Microloan Modernization Act of 2017 . 2. Definitions In this Act— (1) the term intermediary has the meaning given that 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) ). 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 . 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 such term appears and inserting 50 percent . 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 that are eligible to participate in the microloan program and that do not participate; (2) the reasons why eligible 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 eligible 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. 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.

July 12, 2017 Reported with an amendment, committed to the Committee of the Whole House on the State of the Union, and ordered to be printed