Rural Microentrepreneur Assistance Act of 2023
Latest action · Sep 26, 2023 Referred to the Subcommittee on Commodity Markets, Digital Assets, and Rural Development.
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.
- IntroducedAug 25, 2023
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Rural Microentrepreneur Assistance Act of 2023
This bill reauthorizes through FY2028 and revises the Rural Microentrepreneur Assistance Program (RMAP). This Department of Agriculture program provides loans to eligible microenterprise development organizations to capitalize revolving loan funds that provide loans to qualified rural microenterprises.
The bill increases the amount a rural microenterprise may borrow to up to $75,000 (from up to $50,000).
The bill also increases the maximum allowable federal cost share to 100% (from 75%). The bill further specifies that a RMAP project loan may not be used to cover more than 50% of any demolition, construction, or related costs of real estate improvements.
Cosponsors 5
Members who signed on, in the order they did. Signatures ran from Aug 25, 2023 to Jun 5, 2024, with 1 there on the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-MN | Angie Craig | Original | Aug 25, 2023 |
| D-NC | Donald G. Davis | Oct 3, 2023 | |
| D-ME | Chellie Pingree | Nov 8, 2023 | |
| D-CO | Yadira Caraveo | Dec 19, 2023 | |
| D-HI | Jill N. Tokuda | Jun 5, 2024 |
Actions 3
Everything that happened, newest first.
- Sep 26, 2023Referred to the Subcommittee on Commodity Markets, Digital Assets, and Rural Development.
- Aug 25, 2023Introduced in House
- Aug 25, 2023Referred to the House Committee on Agriculture.
Related bills 1
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| S 2996 | Rural Microentrepreneur Assistance Act of 2023 | Related bill | Sep 29, 2023 |
Subjects
Assigned by the Library of Congress. Policy area: Agriculture and Food.
Text 1
Each version as it was printed, newest first.
- Aug 25, 2023Introduced 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.