US Congress House Bill 6078 (Prior Session Legislation)

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Spectrum: Bipartisan Bill
Status: Engrossed on September 15 2020 - 50% progression, died in committee
Action: 2020-09-15 - Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.
Pending: Senate Small Business And Entrepreneurship Committee
Text: Latest bill text (Engrossed) [PDF]

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.

Microloan Transparency and Accountability Act of 2020

Rep. Tim Burchett [R-TN]

Rep. Andy Kim [D-NJ]

Date	Chamber	Action
2020-09-15	Senate	Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.
2020-09-14	House	Motion to reconsider laid on the table Agreed to without objection.
2020-09-14	House	On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H4347)
2020-09-14	House	DEBATE - The House proceeded with forty minutes of debate on H.R. 6078.
2020-09-14	House	Considered under suspension of the rules. (consideration: CR H4347-4348)
2020-09-14	House	Ms. Velazquez moved to suspend the rules and pass the bill, as amended.
2020-03-11	House	Ordered to be Reported by Voice Vote.
2020-03-11	House	Committee Consideration and Mark-up Session Held.
2020-03-04	House	Referred to the House Committee on Small Business.
2020-03-04	House	Introduced in House

Type	Source
Summary	https://www.congress.gov/bill/116th-congress/house-bill/6078/all-info
Text	https://www.congress.gov/116/bills/hr6078/BILLS-116hr6078ih.pdf
Text	https://www.congress.gov/116/bills/hr6078/BILLS-116hr6078eh.pdf