Microloan Transparency and Accountability Act of 2020
Latest action · Sep 15, 2020 Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedMar 4, 2020
- Passed HouseSep 14, 2020
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Microloan Transparency and Accountability Act of 2020
This bill modifies provisions related to the Small Business Administration's (SBA) disbursement of certain financial assistance.
Specifically, the bill establishes a 5% technical assistance grant for certain intermediaries, including intermediaries who make 25% of their loans to rural small businesses. Further, the bill requires the SBA to report certain metrics related to the disbursement of microloans to small businesses, including (1) the number, amount, and percentage of such loans that went into default in the previous year; (2) the extent to which microloans are provided to small businesses in rural areas; and (3) the average size, rate of interest, and amount of fees charged for each microloan.
Cosponsors 1
Members who signed on, in the order they did. All signed on Mar 4, 2020.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-NJ | Andy Kim | Original | Mar 4, 2020 |
Actions 11
Everything that happened, newest first.
- Sep 15, 2020Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.
- Sep 14, 2020Considered under suspension of the rules. (consideration: CR H4347-4348)
- Sep 14, 2020DEBATE - The House proceeded with forty minutes of debate on H.R. 6078.
- Sep 14, 2020Motion to reconsider laid on the table Agreed to without objection.
- Sep 14, 2020Ms. Velazquez moved to suspend the rules and pass the bill, as amended.
Subjects
Assigned by the Library of Congress. Policy area: Commerce.
Text 3
Each version as it was printed, newest first.
- Sep 15, 2020Referred in Senate
- Sep 14, 2020Engrossed in House
- Mar 4, 2020Introduced in House
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov.