United States 115th Congress Status: Passed Senate 1 R cosponsors

S 526 — Microloan Modernization Act of 2018

Last action — By Senator Risch from Committee on Small Business and Entrepreneurship filed written report. Report No. 115-452.

  1. ✓
    Introduced
  2. ✓
    In Committee
  3. 3
    Passed Senate
  4. 4
    Passed House
  5. 5
    To Executive
  6. 6
    Enacted

This bill died with 115th Congress. It reached “Passed Senate” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Summary

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

What changed in the latest version

8 added · 86 removed

Plain-language change summary

The updated version of the bill adds two new sections: SEC. 4, which requires the Small Business Administration (SBA) to conduct a study on microenterprise participation, and SEC. 5, which mandates the Government Accountability Office (GAO) to study microloan intermediary practices. These additions aim to gather information that may inform future policies or actions related to microenterprise and microloan programs.

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Latest
526 Reported in Senate (RS)] <DOC> Calendar No.
526 Engrossed in Senate (ES)] <DOC> 115th CONGRESS 2d Session S.
346 115th CONGRESS 2d Session S.
526 _______________________________________________________________________ AN ACT To amend the Small Business Act to provide for expanded participation in the microloan program, and for other purposes.
526 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, SECTION 1.
_______________________________________________________________________ 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.
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.
Show all 47 changed rows (7 more)
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5.
6.
5.
Calendar No.
Passed the Senate July 18, 2018.
346 115th CONGRESS 2d Session S.
Attest:
526 _______________________________________________________________________ A BILL To amend the Small Business Act to provide for expanded participation in the microloan program, and for other purposes.
Secretary.
_______________________________________________________________________ March 19, 2018 Reported with an amendment
115th CONGRESS 2d Session S.
526 _______________________________________________________________________ AN ACT To amend the Small Business Act to provide for expanded participation in the microloan program, and for other purposes.
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How this bill changes current law

1 change Share ↗

Compared against current U.S. Code AI-generated reading aid — verify against the official bill.

The bill increases the microloan intermediary lending limit from $5,000,000 to $6,000,000.

  • 15 U.S.C. 636(m)(3)(C)

    $5,000,000 → $6,000,000

    It raises the maximum lending limit for intermediaries participating in the microloan program.

Action History

  1. Introduced in Senate

  2. Read twice and referred to the Committee on Small Business and Entrepreneurship.

  3. Committee on Small Business and Entrepreneurship. Ordered to be reported with an amendment in the nature of a substitute favorably.

  4. Committee on Small Business and Entrepreneurship. Reported by Senator Risch with an amendment in the nature of a substitute. Without written report.

  5. Committee on Small Business and Entrepreneurship. Reported by Senator Risch with an amendment in the nature of a substitute. Without written report.

  6. Placed on Senate Legislative Calendar under General Orders. Calendar No. 346.

  7. Measure laid before Senate by unanimous consent. (consideration: CR S5072-5073)

  8. The committee substitute as amended agreed to by Unanimous Consent.

  9. Passed/agreed to in Senate: Passed Senate with an amendment by Voice Vote.(text: CR S5073)

  10. Passed Senate with an amendment by Voice Vote. (text: CR S5073)

  11. Received in the House.

  12. Message on Senate action sent to the House.

  13. Held at the desk.

  14. By Senator Risch from Committee on Small Business and Entrepreneurship filed written report. Report No. 115-452.

  15. By Senator Risch from Committee on Small Business and Entrepreneurship filed written report. Report No. 115-452.

Sponsors

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 546 not signed on

Sponsors (1)

Co-sponsors (0)

None.

Not signed on (546)

546 members have not signed on to this bill.

Show all 546 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

finance labor
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

What does S 526 do?
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.
Who sponsors S 526?
S 526 is sponsored by Fischer, Deb (Republican).
What is the current status of S 526?
This bill died with 115th Congress. It reached “Passed Senate” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track S 526?
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