United States 116th Congress Status: Died 1 D cosponsors

HR 6079 — Microloan Improvement Act of 2020

Last action — Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.

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  1. ✓
    Introduced
  2. ✓
    In Committee
  3. Died in session

This bill died with 116th Congress. It reached “In Committee” 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This bill is no longer active — its legislative session has ended, so there is no live prognosis.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

Revises the microloan program through which the Small Business Administration (SBA) provides, through designated intermediaries, certain financial assistance to small businesses. Specifically, the bill raises the limit on the aggregate amount for loans the SBA makes to an intermediary participating in the microloan program. Further, the bill (1) authorizes an intermediary to offer a line of credit to a small business, (2) increases the average amount for loans from an intermediary to participating small businesses that makes the intermediary eligible for a reduced interest rate on SBA loans, and (3) makes certain intermediaries eligible to receive a 5% technical assistance grant. The bill also places limits on the repayment term for a microloan, and it prohibits the SBA from imposing any additional limitation on the term for repayment of a microloan. The SBA must reserve 15% of new loan funds that are made available for disbursement as microloans to designated underutilized states and make the remaining 85% available for any state.

Bill Text

We don't have the full text on file for this bill yet.

Read HR 6079 on the official United States source →

Action History

  1. Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.

  2. Motion to reconsider laid on the table Agreed to without objection.

  3. On motion to suspend the rules and pass the bill Agreed to by voice vote. (text: CR H4344)

  4. DEBATE - The House proceeded with forty minutes of debate on H.R. 6079.

  5. Considered under suspension of the rules. (consideration: CR H4344-4345)

  6. Ms. Velazquez moved to suspend the rules and pass the bill.

  7. Ordered to be Reported by Voice Vote.

  8. Committee Consideration and Mark-up Session Held.

  9. Referred to the House Committee on Small Business.

  10. Introduced in House

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.

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"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

Commerce Administrative law and regulatory procedures Business records Credit and credit markets Government information and archives Government lending and loan guarantees Interest, dividends, interest rates Small business Small Business Administration
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 HR 6079 do?
Revises the microloan program through which the Small Business Administration (SBA) provides, through designated intermediaries, certain financial assistance to small businesses. Specifically, the bill raises the limit on the aggregate amount for loans the SBA makes to an intermediary participating in the microloan program. Further, the bill (1) authorizes an intermediary to offer a line of credit to a small business, (2) increases the average amount for loans from an intermediary to participating small businesses that makes the intermediary eligible for a reduced interest rate on SBA loans, and (3) makes certain intermediaries eligible to receive a 5% technical assistance grant. The bill also places limits on the repayment term for a microloan, and it prohibits the SBA from imposing any additional limitation on the term for repayment of a microloan. The SBA must reserve 15% of new loan funds that are made available for disbursement as microloans to designated underutilized states and make the remaining 85% available for any state.
Who sponsors HR 6079?
HR 6079 is sponsored by Andy Kim (D).
What is the current status of HR 6079?
This bill died with 116th Congress. It reached “In Committee” 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 HR 6079?
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